How to do a 0% balance transfer

Published by Cathy Adams on 31 December 2010.
Last updated on 08 May 2017

The best interest-free periods on balance transfer cards have been as high as 26 months. First of all, check our best buys for the best 0% balance transfer credit cards on the market

Transfers are subject to a balance transfer fee typically up to 3% of the debt moved. Thereafter, the balance remains interest-free for the duration of the offer, but you'll still have to meet the minimum repayments each month.

While 0% balance transfers are a fantastic way of clearing nagging debts, it's important to play by the rules to ensure you don't get stung. 

Once the 0% offer has expired the interest rate will rise to a typical 17-19% meaning it's important to clear the balance in time. If you can't afford to do this make sure you transfer the balance to another 0% card.

It's also important to check the rate of interest you pay on new purchases. Many cards also offer 0% on new purchases but these offers are usually short-lived typically lasting around three months.

Always check the terms and conditions of the card before purchasing.

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