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There’s no doubt about it: plastic is fantastic! Credit cards are swiftly replacing cash and cheques as the nation’s favourite form of currency. You can use them as you would money, for all those humdrum and daily transactions, you can use them online and, not only can you borrow on them, you get rewards for using them with a little common sense. You can use them for small purchases or for those one-off major transactions, they’re protected - making them safer than cash or cheques - and some of them look pretty cool! There are so many different credit card deals available these days that it seems an almost impossible task to work out which is the best one for you. However, choosing a UK credit card company with which you want to do business can be made a lot easier if you stop and think what you want to use your plastic for. Cash-back cards allow you to reclaim a percentage of your expenditure. If you use your card regularly and pay off your balance every month, then you might want to consider the ‘earn as you spend’ advantages behind this type of card, as these small percentages can add up - especially if you are a regular user - and are then given to you either as a cheque or are paid directly into your account. Some cards give you a generous 5% cash-back for an introductory period, dropping to a standard 1% after that time. Reward cards offer a similar deal to cash-back cards but in this case they offer bonuses for using them, rather than cash-back. For instance, a major Hotel chain has developed a credit card that rewards its users with points for hotel stays and travel. These cards are good for those people who fulfil the criteria for cash-back cards, but might have something specific to save for, rather than having cash deposited back to their account. For those consumers who like to ‘play the game’, there are many purchase cards available with extremely desirable introductory offers. If you don’t mind keeping an eye on the market and changing your credit cards every six months or so, then you can really clean up by taking advantage of these offers - but this is a system only to be used by those who manage their finances attentively and efficiently. In addition, it’s worth bearing in mind that lenders have got wise to those who change their credit cards frequently and often impose a transfer fee; they may even refuse your credit card application if you have taken advantage of credit card introductory offers in the past. Unfortunately, being refused credit can have a negative impact on your credit rating, causing potential damage to future applications. Ultimately, choosing a card is a balancing act and one that requires a good deal of consideration and honesty in assessing your spending habits. For most consumers, the APR will have the biggest impact on their choice, with lifestyle choices coming in a second place. While balance transfers seem attractive, they really only delay the inevitable - that you will have to pay back what you have borrowed. Careful consumers ensure that they have a sensible repayment strategy in place before they even think about taking advantage of the incentives.