“A credit builder card could help improve your credit score if you have a limited credit history; a reward card usually offers benefits like cashback or travel points; and a balance transfer card could help you consolidate and pay off existing debt at a lower interest rate,” Webb adds.
A credit builder is a type of card aimed at people who are new to borrowing or have a poor credit history.
Before applying for a credit card, it is worth checking your credit record.
You might also have a better chance of getting approved for a credit card from your bank than a new provider if you have a history of using its services responsibly, so it is worth checking the rates and deals available.
When you apply for a credit card or personal loan, the lender will quote the interest as an APR, which stands for annual percentage rate.
