0% Balance Transfers

Credit Card Intro Transfers Intro Purchases Comments Apply
Virgin Credit Card
Virgin Credit Card
16.8% APR
0% PA for 18 months
(2.75% fee)
0% PA for 3 months A long time favourite for applicants seeking a balance transfer card. Comes with great Virgin rewards.

Representative example:16.8% APR representative (variable). Based on a credit limit of �1,200* and a purchase rate of 16.8% p.a. (variable)
Bank of Scotland All In One
Bank of Scotland All In One
15.9% APR
0% PA for 10 months
(3% fee)
0% PA for 10 months A great offer from the Bank of Scotland on both balance transfers and purchases.

Representative example: 15.9% APR representative (variable). Based on a credit limit of �1,200* and a purchase rate of 15.94% p.a. (variable)
Halifax All In One
Halifax All In One
15.9% APR
0% PA for 10 months
(3% fee)
0% PA for 10 months Online account management, choice of card colours and also great introductory offers from the Halifax.

Representative example: 15.9% APR representative (variable). Based on a credit limit of �1,200* and a purchase rate of 15.94% p.a. (variable)

0% balance transfers are a very nifty tool for those with debts piled up across several other credit cards. Even if you’re paying high interest on just the one card, you can save yourself a fair sum by making use of 0% a credit card.

What’s the point, you might think. Surely moving debts from one card to another is avoiding the real issue. Well, maybe so, but there are companies out there offering interest free introductory offers. The key is to take advantage of the introduction period, pay off as much debt as you can manage at the interest-free price, and then skip on to the next provider for another term!

By making full use of 0% balance transfers, it’s realistically possible to pay off your debts without paying a penny in interest. How cool would that be?

The downside, of course, is that this kind of card hopping can be somewhat time consuming and it isn’t exactly the best way to endear yourself to the credit card bigwigs of the world. Not that you should particularly care for their welfare, but still.

If you’re going to try your luck with 0% balance transfers, read up on the small print carefully. Some credit cards are especially picking about customers transferring debts across and will charge a one-off fee for the right. Whether the fee is worth the discounted interest, you’ll have to work out the maths in your head.

Some companies have been known to charge up to 4% of the transferred sum to bring your debts across. On a small scale mountain of debt, this might be manageable. If you’re carrying bills by the bucket load, however, such small percentages can mount up rather quickly.

Don’t be fooled in to believing that there HAS to be a transfer charge though. There are many companies on the market willing to waive this fee in return for your custom. The fact that you’ll be leaving in a few months is lost on them, especially if they’re new and searching to establish their brand.

You’ll find that the more high-profile 0% credit card offers allow you to combine all kinds of debts in to one lump sum. Are you struggling to pay off overdraft and loan charges? Well, it’s feasible that you could have transferred to the same 0% card, and then you can make a huge saving on the interest.

It’s important to stay one step of the game when you’re using this account hopping strategy. If you leave things until the last minute before seeking out a new 0% transfer, you’ll find that it takes a while for them to process the details of your request. Poor planning can thus lead to you paying the premium interest while paperwork is sorted in the background. Needless to say, you should make the effort to stay on top of your debts. And be extra careful if you plan on using the same 0% credit card during an introductory period – it might not allow interest-free repayments on new purchases!

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