Our Current Top Card

MBNA Limited
- Platinum Credit Card (41 Mths) -

  • 0% for 20 Months on Money Transfers
  • 0% Interest for 41 Months on Balance Transfers Made Within 60 Days
  • 3.45% Transfer Fee

0% Balance Transfer Fee
Credit Cards

Compare 0% balance transfer cards with Money Expert and delay paying interest on your current credit card debt.

Compare the best 0% Balance Transfer Credit Cards

Halifax

Balance Transfers
41 Months
0% interest on
Balance Transfers

Fee
3.18%
Transfer Fee

Representative APR.
18.9% APR
Representative
variable

Balance Transfer offer - exclusively available online only. 0% for up to 41 months from account opening on balance transfers made in the first 90 days. Minimum £100 balance transfer. 3.18% effective fee applies on each balance transfer made in the first 90 days. An initial 3.50% fee applies; within 90 days we'll then reduce it to 3.18% by a refund. The refund applies for balance transfers in the first 90 days from when we open your account, after which a 3% fee applies for each balance transfer. 0% for 6 months from account opening on purchases.

nuba

Balance Transfers
41 Months
0% interest on
Balance Transfers

Fee
3.29%
Transfer Fee

Representative APR.
18.9% APR
Representative
variable

MBNA Limited

Balance Transfers
41 Months
0% interest on
Balance Transfers

Fee
3.45%
Transfer Fee

Representative APR.
18.9% APR
Representative
variable

0% interest for up to 41 months on balance transfers. 3.45% fee for the first 60 days (20.9% APR and 5% fee thereafter)

0% interest for up to 20 months on money transfers, 4% fee for the first 60 days (22.9% APR and 5% fee thereafter)
You cannot transfer a balance from another MBNA card.

Eligibility for this card depends on your circumstances and the results of MBNA's eligibility check. The product, APR and promotional offer you could get may differ from the example. Must be aged 18 or over, hold a UK bank account and must have been a permanent UK resident for at least 3 years. You must have a good credit rating and credit is subject to status.

nuba

Balance Transfers
41 Months
0% interest on
Balance Transfers

Fee
3.49%
Transfer Fee

Representative APR.
18.9% APR
Representative
variable

0% interest for up to 41 months on balance transfers. 3.49% fee for the first 60 days (20.9% APR and 5% fee thereafter)

0% interest for up to 20 months on money transfers, 4% fee for the first 60 days (22.9% APR and 5% fee thereafter)
£20 Amazon voucher when you make balance or money transfers totalling at least £1000 within the first 60 days

Eligibility for this card depends on your circumstances and the results of the eligibility check. The product, APR and promotional offer you could get may differ from the example. Must be aged 18 or over, hold a UK bank account and must have been a permanent UK resident for at least 3 years. You must have a good credit rating and credit is subject to status. You cannot transfer a balance from another MBNA card.

Virgin Money

Balance Transfers
41 Months
0% interest on
Balance Transfers

Fee
3.19%
Transfer Fee

Representative APR.
20.9% APR
Representative
variable

Lloyds Bank

Balance Transfers
40 Months
0% interest on
Balance Transfers

Fee
1.94%
Transfer Fee

Representative APR.
18.9% APR
Representative
variable

0% for up to 40 months from account opening on balance transfers within the first 90 days. Minimum £100 balance transfer. At least 51% of customers will get 0% on balance transfers for the first 40 months and a representative rate of 18.9% APR (variable). 1.94% effective fee applies on each balance transfer made in the first 90 days. An initial 3% fee applies; then reduced to 1.94% by a refund. The refund applies for balance transfers in the first 90 days from when we open your account, after which a 3% fee applies for each balance transfer. 0% for the first 6 months on purchases.

Bank of Scotland

Balance Transfers
40 Months
0% interest on
Balance Transfers

Fee
1.94%
Transfer Fee

Representative APR.
18.9% APR
Representative
variable

0% for up to 40 months from account opening on balance transfers within the first 90 days. Minimum £100 balance transfer. At least 51% of customers will get 0% on balance transfers for the first 40 months and a representative rate of 18.9% APR (variable). 1.94% effective fee applies on each balance transfer made in the first 90 days. An initial 3% fee applies; then reduced to 1.94% by a refund. The refund applies for balance transfers in the first 90 days from when we open your account, after which a 3% fee applies for each balance transfer. 0% for the first 6 months on purchases.

MBNA Limited

Balance Transfers
40 Months
0% interest on
Balance Transfers

Fee
2.35%
Transfer Fee

Representative APR.
18.9% APR
Representative
variable

Santander

Balance Transfers
40 Months
0% interest on
Balance Transfers

Fee
1%
Transfer Fee

Representative APR.
21.7% APR
Representative
variable

Barclaycard

Balance Transfers
37 Months
0% interest on
Balance Transfers

Fee
2.45%
Transfer Fee

Representative APR.
18.9% APR
Representative
variable

0% interest on balance transfers for 37 months from account opening (2.45% handling fee applies). A fee of 3.5% will be applied, then reduced to 2.45% by a refund (terms and conditions apply). 0% interest on purchases for 6 months from account opening.

Post Office Money

Balance Transfers
Up to 37 Months
0% interest on
Balance Transfers

Fee
2.49%
Transfer Fee

Representative APR.
18.9% APR
Representative
variable

Post Office Credit Cards are provided by Bank of Ireland UK. Post Office Limited is a credit broker and not a lender. 0% on balance transfers for up to 37 months.2.49% fee applies and balance transfers must be made within 3 months of account opening. No cash fee to buy travel money at the Post Office. 0% on purchases for the first 3 months. No annual fee. 

AA

Balance Transfers
37 Months
0% interest on
Balance Transfers

Fee
2.5%
Transfer Fee

Representative APR.
19.9% APR
Representative
variable

Virgin Money

Balance Transfers
36 Months
0% interest on
Balance Transfers

Fee
2.39%
Transfer Fee

Representative APR.
20.9% APR
Representative
variable

Sainsburys Bank

Balance Transfers
35 Months
0% interest on
Balance Transfers

Fee
1.5%
Transfer Fee

Representative APR.
18.9% APR
Representative
variable

Virgin Money

Balance Transfers
34 Months
0% interest on
Balance Transfers

Fee
1.49%
Transfer Fee

Representative APR.
19.9% APR
Representative
variable

Sainsburys Bank

Balance Transfers
33 Months
0% interest on
Balance Transfers

Fee
0.64%
Transfer Fee

Representative APR.
18.9% APR
Representative
variable

Halifax

Balance Transfers
32 Months
0% interest on
Balance Transfers

Fee
0.7%
Transfer Fee

Representative APR.
18.9% APR
Representative
variable

Lloyds Bank

Balance Transfers
32 Months
0% interest on
Balance Transfers

Fee
0.8%
Transfer Fee

Representative APR.
18.9% APR
Representative
variable

0% interest on balance transfers. Get up to 32 months 0% interest on balance transfers made within 90 days of opening your account. 0.80% balance transfer fee. An initial 3% fee applies; which is reduced to 0.80% by a refund. The refund applies for balance transfers in the first 90 days from when we open your account, after which a 3% fee applies. 0% interest on purchases. For 6 months after opening your account, get 0% on purchases made.

Bank of Scotland

Balance Transfers
32 Months
0% interest on
Balance Transfers

Fee
0.8%
Transfer Fee

Representative APR.
18.9% APR
Representative
variable

A great credit card for balance transfers, plus a low balance transfer fee – available exclusively online. 0% for up to 32 months from account opening on balance transfers within the first 90 days. Minimum £100 balance transfer. At least 51% of customers will get 0% on balance transfers for the first 32 months and a representative rate of 18.9% APR (variable). Others will get 0% for 32 or 26 months and a rate of 21.9% APR (variable), or 25.9% APR (variable). 1.39% effective fee applies on each balance transfer made in the first 90 days. An initial 3% fee applies; we'll then refund 1.61% within 90 days, so the effective fee is 1.39%. The refund applies for balance transfers in the first 90 days from when we open your account, after which a 3% fee applies for each balance transfer. 0% for 12 months from account opening on purchases.

Barclaycard

Balance Transfers
32 Months
0% interest on
Balance Transfers

Fee
0.63%
Transfer Fee

Representative APR.
18.9% APR
Representative
variable

0% interest on balance transfers for 32 months from account opening (0.63% fee applies). A fee of 3.5% will be applied, then reduced to 0.63% by a refund (terms and conditions apply). 0% interest on purchases for 6 months from account opening.

MBNA Limited

Balance Transfers
32 Months
0% interest on
Balance Transfers

Fee
1.14%
Transfer Fee

Representative APR.
18.9% APR
Representative
variable

Virgin Money

Balance Transfers
32 Months
0% interest on
Balance Transfers

Fee
1.69%
Transfer Fee

Representative APR.
19.9% APR
Representative
variable

Virgin Money

Balance Transfers
30 Months
0% interest on
Balance Transfers

Fee
2.5%
Transfer Fee

Representative APR.
18.9% APR
Representative
variable

Virgin Money

Balance Transfers
30 Months
0% interest on
Balance Transfers

Fee
0.59%
Transfer Fee

Representative APR.
19.9% APR
Representative
variable

TSB

Balance Transfers
28 Months
0% interest on
Balance Transfers

Fee
0.5%
Transfer Fee

Representative APR.
18.9% APR
Representative
variable

 0% interest for up to 28 months on balance transfers within the first 90 days (0.50% Balance Transfer Fee applies). £100 minimum balance transfer. Subject to status and lending criteria. 0% on purchases for the first 3 months.

nuba

Balance Transfers
26 Months
0% interest on
Balance Transfers

Fee
2.95%
Transfer Fee

Representative APR.
18.9% APR
Representative
variable

Halifax

Balance Transfers
26 Months
0% interest on
Balance Transfers

Fee
2.95%
Transfer Fee

Representative APR.
18.9% APR
Representative
variable

0% for up to the first 21 months from account opening on balance transfers within the first 90 days. Minimum £100 balance transfer. At least 51% of customers will get 0% on balance transfers for the first 21 months and a representative rate of 18.9% APR (variable). Others will get 0% for 18 or 15 months and a rate of 21.9% APR (variable), or 25.9% APR (variable). 2.5% fee applies on each balance transfer made in the first 90 days. 3% fee applies for each balance transfer made after the first 90 days. 0% for up to 21 months from account opening on purchases. At least 51% of customers will get 0% on purchases for the first 21 months and a representative rate of 18.9% APR (variable). Others will get 0% for 18 or 15 months and a rate of 21.9% APR (variable), or 25.9% APR (variable).

AA

Balance Transfers
26 Months
0% interest on
Balance Transfers

Fee
2.98%
Transfer Fee

Representative APR.
18.9% APR
Representative
variable

0% for 20 months on balance transfers made in the first 3 months. A 2.98% fee applies to balance transfers. 0% on all purchases for 26 months from the date your account is opened. To qualify, a transaction must be made within the first 3 months, otherwise the promotional period will be reduced to 20 months. Contactless Payments. Instant Decision. No Annual Fee. Additional card security when you shop online with MasterCard® SecureCode™.
AA Credit Cards are provided by Bank of Ireland UK. AA Financial Services Limited is a credit broker and not a lender.

Barclaycard

Balance Transfers
25 Months
0% interest on
Balance Transfers

Fee
1.99%
Transfer Fee

Representative APR.
18.9% APR
Representative
variable

0% interest on purchases for 25 months and 0% interest for 25 months on balance transfers (1.99% transfer fee applies). A fee of 3% will be applied, then reduced to 1.99% by a refund (terms and conditions apply).

M&S Bank

Balance Transfers
25 Months
0% interest on
Balance Transfers

Fee
2.9%
Transfer Fee

Representative APR.
18.9% APR
Representative
variable

Halifax

Balance Transfers
25 Months
0% interest on
Balance Transfers

Fee
0%
Transfer Fee

Representative APR.
18.9% APR
Representative
variable

0% for up to 25 months from account opening on balance transfers made in the first 90 days. Minimum £100 balance transfer. At least 51% of customers will get 0% on balance transfers for the first 25 months and a representative rate of 18.9% APR (variable). 0% fee applies on each balance transfer made in the first 90 days. 3% fee applies on each balance transfer made after the first 90 days. 0% for 6 months from account opening on purchases.

Bank of Ireland (NI)

Balance Transfers
24 Months
0% interest on
Balance Transfers

Fee
2.49%
Transfer Fee

Representative APR.
17.9% APR
Representative
variable

The Co-operative Bank

Balance Transfers
24 Months
0% interest on
Balance Transfers

Fee
1%
Transfer Fee

Representative APR.
18% APR
Representative
variable

Lloyds Bank

Balance Transfers
24 Months
0% interest on
Balance Transfers

Fee
2.5%
Transfer Fee

Representative APR.
18.9% APR
Representative
variable

0% interest on balance transfers. Get 21 months 0% interest on balance transfers made within 90 days of opening your account. 2.5% balance transfer fee. You’ll also pay only a 2.5% fee on balances transferred during these 90 days, instead of the standard 3% fee. 0% interest on purchases. For 21 months after opening your account, get 0% on purchases.

Bank of Scotland

Balance Transfers
24 Months
0% interest on
Balance Transfers

Fee
2.5%
Transfer Fee

Representative APR.
18.9% APR
Representative
variable

0% for up to the first 21 months from account opening on balance transfers made in the first 90 days. Minimum £100 balance transfer. At least 51% of customers will get 0% on balance transfers for the first 21 months and a representative rate of 18.9% APR (variable). Others will get 0% for 18 or 15 months and a rate of either 21.9% APR (variable), or 25.9% APR (variable). 2.5% fee applies on each balance transfer made in the first 90 days. 3% fee applies on each balance transfer made after the first 90 days. 0% for 21 months from account opening on purchases. At least 51% of customers will get 0% on purchases for the first 21 months and a representative rate of 18.9% APR (variable). Others will get 0% for 18 or 15 months and a rate of either 21.9% APR (variable) or 25.9% APR (variable).

Barclaycard

Balance Transfers
24 Months
0% interest on
Balance Transfers

Fee
0%
Transfer Fee

Representative APR.
18.9% APR
Representative
variable

0% for 24 months on balance transfers (0.00% fee applies). A fee of 3.5% will be applied, then reduced to 0.00% by a refund. 0% interest on purchases for 6 months

Lloyds Bank

Balance Transfers
24 Months
0% interest on
Balance Transfers

Fee
3%
Transfer Fee

Representative APR.
23.7% APR
Representative
variable

With two cards and one account, shopping has never been so rewarding. Choice rewards – Collect Choice points every time you shop, and redeem them for shopping vouchers at Amazon, Boots, Debenhams and other retailers, for cashback, travel rewards through Avios, and more. Double Choice points – Apply now and collect double points for the first 6 months when using your Lloyds Bank Choice Rewards American Express® card, up to a maximum spend of £2,500 per month. Rewards Terms and Conditions apply. 0% interest on purchases – For 24 months after opening your account, get 0% interest on purchases made when you stay within your credit limit and make your monthly payments on time. 0% interest on balance transfers – For 24 months after opening your account, get 0% interest on balance transfers made in the first 90 days (a minimum transfer of £100 and a 3% balance transfer fee applies).

Post Office Money

Balance Transfers
22 Months
0% interest on
Balance Transfers

Fee
0%
Transfer Fee

Representative APR.
17.8% APR
Representative
variable

Post Office Credit Cards are provided by Bank of Ireland UK. Post Office Limited is a credit broker and not a lender. No balance transfer fee and 0% on balance transfers for 22 months with our Post Office Money Platinum Credit Card.
Balance transfers must be made within three months of account opening. No fees on purchases overseas. No cash fee to buy travel money at the Post Office. 0% on all purchases for the first 3 months.

TSB

Balance Transfers
20 Months
0% interest on
Balance Transfers

Fee
2.95%
Transfer Fee

Representative APR.
18.9% APR
Representative
variable

0% interest for the first 20 months on balance transfers within the first 90 days (2.95% Balance Transfer Fee applies). A Balance Transfer Fee of 2.95% applies. 0% on purchases for 20 months. Minimum £100 balance transfer. 1% cashback on purchases if you also hold the TSB Classic Plus current account. Maximum cashback £5 per month until 30 Sep 2017 (terms and conditions apply).

Lloyds Bank

Balance Transfers
20 Months
0% interest on
Balance Transfers

Fee
0%
Transfer Fee

Representative APR.
18.9% APR
Representative
variable

0% interest on balance transfers. Get up to 20 months' 0% interest on balance transfers made within 90 days of opening your account. 0% interest on purchases. For 6 months after opening your account, get 0% interest on purchases made. No balance transfer fee. You'll also pay no fees on balances transferred within 90 days of account opening, instead of the standard 3% fee.

Bank of Scotland

Balance Transfers
20 Months
0% interest on
Balance Transfers

Fee
0%
Transfer Fee

Representative APR.
18.9% APR
Representative
variable

0% for up to 20 months from account opening on balance transfers within the first 90 days. Minimum £100 balance transfer. 0% fee on balance transfers within the first 90 days. 3% fee applies on each balance transfer made after the first 90 days. 0% for 6 months from account opening on purchases.

Virgin Money

Balance Transfers
20 Months
0% interest on
Balance Transfers

Fee
2.99%
Transfer Fee

Representative APR.
19.9% APR
Representative
variable

Barclaycard

Balance Transfers
18 Months
0% interest on
Balance Transfers

Fee
2.99%
Transfer Fee

Representative APR.
24.9% APR
Representative
variable

0% interest on balance transfers for 18 months from account opening (2.99% handling fee applies). 0% interest on purchases for 3 months from account opening.

Bank of Scotland

Balance Transfers
18 Months
0% interest on
Balance Transfers

Fee
3%
Transfer Fee

Representative APR.
27.9% APR
Representative
variable

0% for 18 months from account opening on balance transfers made within the first 90 days. £100 minimum balance transfer. 3% balance transfer fee applies. 0% for 9 months from account opening on purchases.

Post Office Money

Balance Transfers
16 Months
0% interest on
Balance Transfers

Fee
2.98%
Transfer Fee

Representative APR.
18.9% APR
Representative
variable

Post Office Credit Cards are provided by Bank of Ireland UK. Post Office Limited is a credit broker and not a lender. For everyday purchases and balance transfers. 0% on purchases for the first 27 months. To qualify, a transaction must be made within the first 3 months, otherwise the promotional period will be reduced to 16 months. 0% on balance transfers for 16 months. Balance transfers must be made within the first 3 months. 2.98% fee on balance transfers. No annual fee. 

Santander

Balance Transfers
15 Months
0% interest on
Balance Transfers

Fee
0%
Transfer Fee

Representative APR.
18.9% APR
Representative
variable

0% for 15 months on balance transfers and purchases from the date of account opening. No balance transfer fee during the introductory period. No annual fee. Apple pay - Pay with your iPhone, iPad or Apple Watch.

Hilton HHonors

Balance Transfers
15 Months
0% interest on
Balance Transfers

Fee
2.99%
Transfer Fee

Representative APR.
18.9% APR
Representative
variable

Earn a free night e-certificate, for one weekend night at many participating hotels in the Hilton Worldwide portfolio, when you spend £750 in the first 90 days (terms and conditions apply). ​Enjoy HHonors Silver status for as long as you are a card member. Earn an upgrade to HHonors Gold status any time your total spending reaches £10,000 in a calendar year. Earn 3 HHonors Bonus Points for every £1 you spend at hotels and resorts within the Hilton Worldwide portfolio. Earn 2 HHonors Bonus Points for every £1 you spend on everyday purchases. Plus, earn 2,500 HHonors Bonus Points for each of your first 4 stays at a hotel or resort within the Hilton Worldwide portfolio. Stays must be within the first 12 months of opening your account and be paid for using your Hilton HHonors Platinum Visa Card. 0% on balance transfers for 15 months from account opening (2.99% fee applies).

Nationwide Building Society

Balance Transfers
12 Months
0% interest on
Balance Transfers

Fee
0%
Transfer Fee

Representative APR.
15.9% APR
Representative
variable

0% on balance transfers for 12 months. Balance transfers must be completed within 3 months of account opening. No balance transfer fee. 0% on purchases for 12 months. 0.5% unlimited cashback on all sterling purchases. Fraud Protection Guarantee. Simply Rewards. Unlimited commission-free purchases abroad

Nationwide Building Society

Balance Transfers
12 Months
0% interest on
Balance Transfers

Fee
0%
Transfer Fee

Representative APR.
17.9% APR
Representative
variable

0% on balance transfers for 12 months. Balance Transfers must be completed within 3 months of account opening. No balance transfer fee. 0% on purchases for 12 months. Earn commission-free purchases abroad. A great range of savings on big brands with our Simply Rewards Scheme. Simply use your Nationwide debit or credit card to take advantage of the offers. Fraud guarantee gives you 24/7 account monitoring and the latest card protection technology. Manage your account online.

Creation Financial Services

Balance Transfers
12 Months
0% interest on
Balance Transfers

Fee
5%
Transfer Fee

Representative APR.
18.9% APR
Representative
variable

Barclaycard

Balance Transfers
12 Months
0% interest on
Balance Transfers

Fee
0.15%
Transfer Fee

Representative APR.
21.9% APR
Representative
variable

Rewards range from the high street, online favourites, places to eat and drink, to top entertainment and days out. Earn points wherever you shop, with double Freedom points on your UK supermarket, petrol station and all Transport for London (TfL) spend. Free ongoing access to your Experian Credit Score. 0% interest on balance transfers for the first 12 months (0.15% fee applies). 0% interest on purchases for 12 months from account opening.

Miles & More

Balance Transfers
12 Months
0% interest on
Balance Transfers

Fee
3%
Transfer Fee

Representative APR.
22.9% APR
Representative
variable

Bank of Ireland (NI)

Balance Transfers
9 Months
0% interest on
Balance Transfers

Fee
2.98%
Transfer Fee

Representative APR.
17.9% APR
Representative
variable

Amnesty International

Balance Transfers
6 Months
0% interest on
Balance Transfers

Fee
3%
Transfer Fee

Representative APR.
18.9% APR
Representative
variable

Virgin Atlantic

Balance Transfers
6 Months
0% interest on
Balance Transfers

Fee
3%
Transfer Fee

Representative APR.
22.9% APR
Representative
variable

Capital One

Balance Transfers
6 Months
0% interest on
Balance Transfers

Fee
3%
Transfer Fee

Representative APR.
34.9% APR
Representative
variable

Tesco Bank

Balance Transfers
6 Months
0% interest on
Balance Transfers

Fee
0.99%
Transfer Fee

Representative APR.
56.5% APR
Representative
variable

Virgin Atlantic

Balance Transfers
6 Months
0% interest on
Balance Transfers

Fee
3%
Transfer Fee

Representative APR.
57.4% APR
Representative
variable

TSB

Balance Transfers
3 Months
0% interest on
Balance Transfers

Fee
0%
Transfer Fee

Representative APR.
7.9% APR
Representative
variable

0% interest on purchases for the first 3 months. 0% p.a. interest for the first 3 months on balance transfers within the first 90 days (0.00% fee applies). 3% balance transfer fee applies after 90 days. Interest will be charged from day of transaction. Subject to status and Lending Criteria. 1% cashback on purchases if you also hold the TSB Classic Plus current account. Maximum cashback £5 per month until 30 Sep 2017 (terms and conditions apply).

Santander

Balance Transfers
1 Months
0% interest on
Balance Transfers

Fee
3%
Transfer Fee

Representative APR.
18.9% APR
Representative
variable

0% Balance Transfer Credit Cards

How do 0% Balance Transfer cards work?

0% balance transfer cards give you the opportunity to move your credit card debt that you currently have onto a new credit card which has 0% interest for an introductory period as long as 12 months. For example if you had built up £800 of debt on one credit card which had an interest rate of 15% and racked up £200 worth of debt on another card with an interest rate of 18%, it would be to your advantage to move the full £1000 worth of debt onto a 0% balance transfer credit card so that you could avoid paying interest on your debt for the 12 month introductory period.

There Is a Small Fee For Balance Transfer Cards

Although initially there will be no interest payments on your debt, balance transfer credit cards will often have a small fee that you will have to pay in order to transfer the balance of your other credit cards over. This fee will be in the region of two to three percent of the amount which you transfer over. For example if you were to transfer over £1000 of credit you would likely pay roughly £20 to £30 as a fee for making the transfer. This however should not dissuade you for using a balance transfer credit card, as you will more than likely make this amount back and more by not having to pay interest on your debt for the first 12 months or so.

Be Aware of The Interest on Purchases

Balance transfer credit cards will have 0% on the credit which you owe for up to 12 months, however they may not have 0% on purchases for the same amount of time. For this reason it is advisable that you make sure to be aware of interest on the purchases if you are planning on using your new card for spending. Balance transfer cards are generally not intended to be used for things like shopping, so often the interest on purchases will only be 0% for up to three months. If you feel that you are going to need a credit card which has the benefits of 0% interest on purchase, then you will likely be interested in getting a 0% purchase credit card for your purchases and then using a 0% balance transfer credit card purely for holding your current debt until it is paid off.

Making Monthly Payments On Your Card

It’s important to pay off the debt on your balance transfer card within the 12 month introductory period before the interest increases from 0%. This way you will not have to pay any interest on your debt and will therefore make a significant saving. You should avoid falling into the trap of feeling safe in the knowledge that for the near future you will not be paying any interest, as this is only temporary. A good thing to do is to cut up your old credit card to take away the temptation to use it and rack up more debt; also it is advisable to set up a direct debit from your bank account to pay off the debt on your transfer credit card to make sure that you do not forget to cover your monthly payments.

The Disadvantages Of a 0% Balance Transfer Credit Card

The disadvantages of using a balance transfer credit card are that there will be a transfer fee, and that the 0% interest on the credit you owe will only last for 12 months. This means that if you want to make a significant saving it is preferable that you to pay off your credit within the 12 month period before the interest payments begin. Therefore for those who are not able to cover their debt in that span of time, transfer cards are much less of an advantage for them. You should also watch out for penalty charges which you may have to pay in the event that you miss a payment or go over your credit limit. This can make using a balance transfer card risky if you don’t feel that you can be reliable with your payments and your spending habits.