Although they are relatively easy to obtain, credit cards should never be used for long-term loans as the APR is typically much higher than that charged for a personal loan.

But if you need a way of making a purchase and are able to repay the amount borrowed quickly, then a credit card can be useful. Most cards will not charge you interest if you repay your outstanding balance immediately.

It might be an idea to read our 'Interest Rates' page as the APR and charges of Credit Cards can become confusing.