0% Balance Transfer Credit Cards - Apply Online What is a 0% Balance Transfer Credit Card? If you have already loaded one credit card to the max or simply come to the end of the initial low rate or 0% period, a 0% Balance Transfer option to a new credit card company can become a very attractive financial proposition. Free zero rated balance transfers can also be useful if you have more than one credit card , are making payments on all of them and simply want to consolidate your debts, pay no interest for a fixed amount of time and only make one payment per month.

However you must make sure you make all the repayments on time in order to avoid paying the high interest rates when your purchase exceeds the agreed free period. It's a good idea to setup a direct debit every month to pay your whole credit card bill off to gain the maximum cash back without any problems.

Always read the smallprint and check you are not being charged a fee for using this 0% balance transfer credit card. Some credit card companies will charge a small percentage of the amount transferred to the card (soemtimes as much as 4%). If this was the case with a £5,000 transfer you would be charged a hefty fee of £200.