You are at : aph home : credit cards : 0% balance transfers 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.
"Ok" I here you say, "that doesn't sound much", but imagine if you used your cash back credit card for every purchase you made throughout the month i.e. put all shopping on the card for a five person family, fuel, bills and even rent in some cases; the amount put on the card could easily exceed £1000 per month giving you a cash back reward of £20 a month or £240 per year. Sounds better now doesn't it! 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.
Visit www.aph.org.uk and let us find you a zero / 0% balance transfer credit card. | 
