60 things you might not know about credit cards (as the UK credit card turns 60)

The UK's first credit card turned 60 last week. When Barclaycard launched in 1966, it changed how people in the UK paid for goods and borrowed money.

Today, credit cards are used every day by millions of people. But many of us don’t fully understand how they work, what the terms mean, or what rights and costs are built in.

To mark the occasion, we've rounded up 60 things you might not know about credit cards

1. The UK's first credit card turned 60 last week

Barclaycard launched in 1966. It was the first widely used credit card in the UK and changed how people paid for things without needing cash or a bank loan.

2. A credit card is borrowed money, not your own money

When you use a credit card, you are borrowing from the card provider. You then repay it later, either in full or over time.

3. You can avoid interest completely if you repay on time

If you pay your full balance by the due date, most cards do not charge interest on purchases.

4. The minimum payment is not designed to clear your debt

It is only the smallest amount you must pay to stay up to date. Paying only this can mean your debt lasts much longer.

5. Your credit limit is not money you have

It is the maximum amount you are allowed to borrow, not money you own.

6. Credit cards can cost more if you only make minimum payments

Interest is added to what you still owe, which means the total debt can shrink very slowly.

7. Your card number is not random

It contains information that helps identify the card type and includes security checks.

8. The first number shows the card network

Most Visa cards start with a 4. Mastercard usually starts with 2 or 5.

9. The last number helps detect mistakes

It is part of a formula that checks whether the card number has been entered correctly.

10. Your PIN is not stored on your card

Even if someone steals your card, they cannot read your PIN from it.

11. You can still build credit without carrying debt

Paying your balance in full each month can still help build your credit history.

12. Your credit report is a record of borrowing history

It shows how you have managed loans, credit cards and other borrowing.

13. Checking your own credit report is safe

This is called a ‘soft search’ and does not affect your credit score.

14. There is no single UK credit score

Different credit agencies – Experian, Equifax and TransUnion - calculate scores in different ways.

15. Your bank does not set your credit score

They share information with credit agencies, but they do not control the score itself.

16. Credit cards can sometimes protect your money if things go wrong

Some purchases may be covered under Section 75 of the Consumer Credit Act 1974 if a company fails or goods are not delivered.

17. You don’t always need to pay the full amount to get protection

In some cases, paying just a deposit on your credit card may be enough to qualify for protection under Section 75.

18. Chargeback is not the same as legal protection

It is a card scheme process that may help recover money if something goes wrong. It’s where your provider reverses a transaction and returns your funds. It acts as a safety net if you spot fraudulent activity, are charged the wrong amount, or fail to receive goods you paid for.

19. Credit cards are often used for bigger planned purchases

Many people use them for holidays, appliances or large one-off costs.

20. Cash withdrawals on credit cards usually cost more

Interest often starts immediately and there is usually an extra fee.

21. Your credit card can expire even if nothing is wrong with it

Cards are replaced regularly to improve security and update technology.

22. You don’t always need your physical card to pay

Many people now use phones or smartwatches instead of plastic cards.

23. Online payments often need extra checks

You may be asked to approve a payment in your banking app or enter a code.

24. You can usually freeze your card instantly

Most banking apps let you pause your card if you think you've lost it.

25. Banks may stop a payment if something looks unusual

For example, spending abroad right after UK use may trigger a check.

26. You can change your payment date

Some providers let you move it to match your payday. This can make it less likely that you’ll miss a payment if you run out of money at the end of the month.

27. You can set up automatic repayments

This helps reduce the risk of missing payments.

28. You can reduce your credit limit if you want to

This can help if you prefer to limit how much you can spend.

29. You don’t have to accept a credit limit increase

You can say no if you don’t want to borrow more.

30. Some credit cards offer cashback or rewards

These give money back or points when you spend. Just make sure the card you choose has offers on the things you usually buy, so you’re not forking out money on rewards you don’t use.

31. Rewards only help if you don’t pay interest

If you carry a balance, interest can outweigh any rewards.

32. Some cards have no foreign transaction fees

These can be cheaper for spending abroad.

33. Car hire companies often prefer credit cards

They may need them for security deposits.

34. Contactless payments are still monitored for security

Occasionally you will still be asked for a PIN.

35. Your bank may text you about suspicious spending

This is to check if transactions are really yours.

36. You can add your card to a digital wallet quickly

Some banks let you use it before the physical card arrives in the post.

37. Store cards are a type of credit card

They usually only work in one shop or retail group.

38. Store cards often have higher interest rates

They can be more expensive than standard credit cards.

39. Buy now, pay later is different from credit cards

It has different rules, timeframes and protections.

40. Your statement shows more than just spending

It shows interest, payment dates and how long repayment could take.

41. A balance transfer moves debt to a new card

It lets you shift existing credit card debt to another card.

42. Balance transfers usually have a fee

This is a one-off charge to move the debt.

43. 0% interest offers do not last forever

After the offer ends, interest will usually apply again.

44. Missing a payment can end promotional offers

Some 0% deals are lost if payments are late.

45. You can repay your credit card early at any time

Most cards do not charge early repayment fees.

46. Credit builder cards are for improving credit history

They are often used by people with little or damaged credit history.

47. Being rejected doesn’t mean all lenders will say no

Each lender has different rules. Check each provider’s conditions before you apply to avoid rejection that could affect your credit score.

48. Applying for lots of credit cards can harm your chances

Multiple applications in a short time may worry lenders.

49. Older credit accounts can help your credit history

They show long-term borrowing behaviour.

50. Closing a credit card can sometimes affect your credit record

Especially if it reduces your available credit history.

51. Your credit utilisation matters

This is how much of your available credit you are using.

52. High utilisation can make borrowing look riskier

Even if you repay in full, using most of your limit can matter.

53. Missing payments can affect your credit history

Lenders can see missed or late payments.

54. A refund doesn’t always change your monthly payment

Timing of refunds can affect how they appear on statements.

55. You should always check your statement

It helps spot errors or unfamiliar transactions.

56. You should report unfamiliar transactions quickly

Acting fast helps your provider investigate.

57. Credit cards can help spread the cost of big purchases

They are often used for planned spending over time.

58. They can also help with unexpected costs

Like repairs or emergency expenses.

59. Help is available if repayments become difficult

Lenders can sometimes offer support depending on your situation. If you’re struggling, speak to your provider; they might be able to pause repayments, reduce or freeze interest rates and late fees or set up an affordable repayment plan.

60. Free debt advice is available if you need it

If you’re finding it difficult to keep up with your credit card repayments, or you’re regularly relying on credit to get through the month, it could be a sign that you might benefit from extra support.

We can help you understand your options and find a way forward that works for your circumstances.