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Featured - ISA allowance
What is the 2024/25 ISA allowance?A new tax-year means a refreshed ISA allowance to allocate. Find out more about the 2024/25 ISA allowance...
Savings
ISAs
Mortgages
Buy to let
Specialist mortgages
Featured - Debt and your credit score
How debt impacts your credit scoreA healthy credit score has its benefits, so make sure you manage your debt correctly.
Loans
Featured - travel insurance
Travel insurance 2024Discover the best travel insurance policy for your next trip.
Home & vehicle
Health & travel
Featured - High interest current accounts
Find current accounts offering in-credit interest rates up to 5.00% AER.
Current accounts
Featured - Purchase Cards
Best purchase credit cardsExplore the best cards with a 0% introductory period.
Credit cards
Credit repair
Calculators & guides
Featured - The triple lock explained
Could the value of your state pension rise by more than inflation?
Retirement
Business savings
Business products
Business insurance
How much can I give as a cash gift?
How much can I give as a cash gift?Will your loved one's gift be tax affected?
Categories
Featured guides
Popular news
Latest news - by category
Other money & finance news
Featured Star Ratings categories
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On Friday 15 October contactless payments will increase to £100 from the current limit of £45. Contactless payments have more than tripled in the space of 18 months, with shoppers having a limit of just £30 in March 2020, which increased to £45 in April 2020.
The roll-out of the new £100 limit will begin on 15 October, however it may take some retailers longer to update all their payment terminals. Commenting on the increase, David Postings, chief executive at UK Finance, said: “Contactless payment has proved very popular with consumers and an increasing number of transactions are being made using contactless technology. The increase in the limit to £100 will allow people to pay for higher value transactions like their weekly shop or filling up their car with fuel. The payments industry has worked hard to put in place the infrastructure to enable retailers to update their payments systems so they can start to offer their customers this new higher limit.”
The £100 contactless payment limit comes in just before the Christmas shopping season starts, making it easier for consumers to make in-store purchases quickly. Along with being used on debit cards, contactless payments are also available for those using credit cards, which, if using a 0% purchase credit card, can be a good way to help spread the cost of Christmas.
A 0% purchase credit card provides borrowers an interest-free period in which to repay the balance when making purchases on the card. For example, Barclaycard’s Platinum All-Rounder Visa gives borrowers an interest-free period of 21 months in which to repay the debt on purchases made using the card; this would mean that someone borrowing £1,000 on the card could make monthly repayments of £50 and clear the debt in 20 months, without incurring any interest.
Consumers considering a 0% purchase credit card should, however, keep in mind that once the interest-free period ends interest is then added to the outstanding balance. Borrowers should always be mindful of the money being spent on these credit cards and aim to repay the debt in full before the interest-free period ends.
To compare all the best 0% purchase credit card deals available visit our 0% purchase credit card chart.
When determining whether to accept an application for a credit card, lenders will usually look at the applicant’s credit history so consumers looking to apply for a 0% purchase credit card may want to run a credit check first. Consumers can check their credit score for free online here. For those with a poor credit score, it may be worthwhile reading our tips on improving credit scores.
Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time. Links to third parties on this page are paid for by the third party. You can find out more about the individual products by visiting their site. Moneyfactscompare.co.uk will receive a small payment if you use their services after you click through to their site. All information is subject to change without notice. Please check all terms before making any decisions. This information is intended solely to provide guidance and is not financial advice. Moneyfacts will not be liable for any loss arising from your use or reliance on this information. If you are in any doubt, Moneyfacts recommends you obtain independent financial advice.
From interest-free overdrafts to exclusive discounts and vouchers on rail travel, food and more, student accounts from NatWest, Santander and other major banks are offering a range of perks.
From interest-free overdrafts to exclusive discounts and vouchers on rail travel, food and more, student current accounts can offer a range of perks.
Its Everyday Extra packaged account also includes breakdown cover, travel and mobile phone insurance.
Its Everyday Extra packaged account also includes breakdown cover, travel and mobile phone insurance.
The Financial Conduct Authority is set to extend Consumer Duty rules to closed products and services from the end of this month, but savers shouldn’t be complacent.
The FCA is set to extend Consumer Duty rules to closed products and services from the end of this month, but savers shouldn’t be complacent.
From interest-free overdrafts to exclusive discounts and vouchers on rail travel, food and more, student accounts from NatWest, Santander and other major banks are offering a range of perks.
From interest-free overdrafts to exclusive discounts and vouchers on rail travel, food and more, student current accounts can offer a range of perks.
Its Everyday Extra packaged account also includes breakdown cover, travel and mobile phone insurance.
Its Everyday Extra packaged account also includes breakdown cover, travel and mobile phone insurance.
The Financial Conduct Authority is set to extend Consumer Duty rules to closed products and services from the end of this month, but savers shouldn’t be complacent.
The FCA is set to extend Consumer Duty rules to closed products and services from the end of this month, but savers shouldn’t be complacent.
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Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.