Credit Card Logo    
 

Credit Card deals on balance transfers

Directories
Credit Card Directory
Compare Credit Cards
Credit Card Debt Management
Business Credit Cards
Information
What's a credit card
Credit Card Debt
Getting a good deal on your credit cards
Balance Transfers
Credit Ratings
 

Balance Transfers on Credit Cards

 
 
 
 
 
 

In order to attract customers with balances on their cards many credit card companies are offering special interest rates when customers transfer a balance from another credit card to theirs. Some companies are even offering 0% interest on transfers and if you use these deals carefully you can save hundreds of pounds. E.g. If you are paying £50 a month in interest and you get 6 months free credit it is worth approx £300.

What to watch out for

However, you need to be careful if you are planning to use this card as your main card to make purchases on. Some credit cards, and you need to check with them what their policy is, will always pay off any balance transfers before purchases. This means that when you make a payment you are clearing the interest free bit first. The problem with this is that if you are not paying the whole balance you will not then be clearing all of your purchases. As such you will be charged interest.

How to get the best out of these deals

Transfer as much of the balance as you can to the card. Do not use the card for making purchases (i.e. just keep it for the balance transfer) until the end of the interest free period. Make the minimum payment each month and then repay the balance in full (or transfer it) making sure that you give it plenty of time to arrive before the end of the free interest period.

Some of the companies offering these deals are included in our directory.

 

   
           
           
   
 
 
© 2006 4theUK Ltd - Insurance providers shown on this site are authorised and regulated by the Financial Services Authority. Nothing on this site is advice. Articles are put together using journalistic research. 4theUK do not provide advice on any products and you should always satisfy yourself of the suitability /relevence of any products shown on our sites.