Are football credit cards really worth having?
The new football season is about to get into full swing and now is the time many ardent fans might be considering a football credit card.
Most Premier League football clubs and many smaller clubs have credit cards, and if you’re keen to show your allegiance and donate some money to your team at the same time they might seem like a great option.
But are they really all they’re cracked up to be, or will they just leave your finances languishing at the bottom of the league table?
Show your colours: football credit cards can seem like a perfect option for die hard fans, but are they really worth it?
What are football credit cards?
A branded credit card which is affiliated with a football club, usually provided by familiar credit card companies. Most cards will donate a percentage of your spending to the club – towards funding for youth teams for example.
What are the catches?
As with charity credit cards, the amount that credit card companies actually give to your club can be miniscule and if you really want to donate money to your club, it might be a better tactic to get a cashback credit card and give them the money you get back from purchases to your club.
As with any other credit card there are a few important points to remember. The representative APR only has to be offered to 51 per cent of customers, meaning 49 per cent will end up with a higher rate than the one advertised. Be aware that if your credit rating isn’t perfect, you will likely be offered a higher rate.
Remember too that any benefits you get from the card will be wiped out if you fail to pay of your balance in full every month – so only borrow what you can afford.
Are they worth it?
While the majority of cards - particularly those for Premier League clubs - have reasonably competitive offers really these are for die-hard fans. If you are just looking for the best balance transfer card or the best card for 0 per cent purchases you won’t find it amongst these football credit cards.
MBNA, who provide a wide selection of football credit cards told This is Money that ‘for commercial reasons they are unable to comment specifically’ on what percentage of your purchase is donated to your club, but it is likely to be a very small amount.
However, all the football credit cards offered by MBNA offer a fairly competitive 0 per cent interest on balance transfers for 12 months (with a 3 per cent balance transfer fee) and 0 per cent interest on purchases for 3 months.
If you are looking to pay off a balance interest free the market-leading rate is offered by Barclaycard. Their Platinum extended balance transfer card offers 22 months of 0 per cent interest on balance transfers with a 2.9 per cent transfer fee.
Alternatively, if you are considering a football credit card to make a large purchase, you’ll be better off with the Tesco Clubcard Mastercard which offers 0 per cent on purchases for 16 months.
Some cards offer specific football-related incentives, such as interest-free deals on season tickets, which for avid fans can be a real bonus and a good way to spread out the cost. Some clubs will also offer discounts or preferential offers to those with a club credit card which could be worthwhile if you go to games regularly.
Tim Moss, head of credit cards at Moneysupermarket said: ‘The cards themselves don’t offer a great deal financially and nearly every other card on the market offers a better deal. However, if you are an ardent fan they do allow you to donate some money to your club without having to dip your hand in your pocket.’
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