Credit cards Updated:
Rail fares across the UK are set to rise by at least 4.1% in January after inflation figures were revealed yesterday.
The Government regulates annual increases in rail fares, including those for season tickets, anytime single tickets around major cities, and off-peak inter-city return tickets, by linking them to the Retail Prices Index (RPI) figure for July.
This means that because RPI was 3.1% last month, from next year those fares regulated by the Government will rise by at least 4.1% (RPI + 1.00%).
But for some rail passengers fares could rise considerably more since the Government allows train companies to vary regulated fares by up to 5% above the average 4.1% rise on condition that fares that increase by more than the average must be balanced by others that rise by less or fall.
If you're a frequent train passenger facing a hefty bill for your season rail ticket next year, you could use a credit card that offers 0% interest on purchases for a set length of time. Currently, the top 5 0% purchase credit cards all offer deals that are longer than 12 months, which means you'll have a whole year to pay off your season rail ticket.
As with any form of credit, you must make sure you can afford to meet the monthly repayments. Before committing to a purchase card, set up a spending limit and a repayment plan to ensure you can remain in control of your card. Also, the 0% aspect only applies to purchases, so always avoid using these cards to withdraw cash from an ATM.
Penny says… "Sitting proudly at the top of the purchase card market is this deal from Tesco Bank. "Additional incentives include earning Tesco Clubcard points for spending as well as no fees for customer's using Tesco's travel money service."
Halifax Purchase Credit Card MasterCard
Penny says… "Taking silver position is this card from Halifax offering 0% on purchases for 17 months. "This deal also offers 0% on balance transfers for 6 months."
MBNA Limited Fluid Purchase Credit Card Visa
Penny says… "In third spot is MBNA offering a competitive 0% on purchases for 16 months. "Customers wishing to transfer balances will also benefit from the generous offer of 0% for 14 months."
NatWest Platinum BT & Purchase Credit Card MasterCard
Penny says… "Falling just outside the top three is this attractive card from NatWest. "This deal also offers 0% on balance transfers for a cracking 15 months."
M&S Bank MasterCard
Penny says… "In a similar vein to the Tesco Bank Clubcard Credit Card, this deal from M&S Bank offers customers the incentive of receiving points for spending. "A competitive 12-month balance transfer period is also offered with this card."
Information & Rates correct as at: 14/08/2013
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Disclaimer: 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.
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