Borrowing

Getting the most out of balance transfer deals

12 April 2007
Many Credit cards deals now come with an incentive, reward schemes, loyalty bonuses, cash back offers and of course 0% balance transfers.

Balance transfer credit cards can be very attractive, especially if you plan on paying off the balance before the 0% offer finishes, if you want to borrow or make purchases using credit then finding a 0% deal means you can spread the payments without paying high interest rates, in most cases you can spread the payments over 6-12 months. Please check with each lender for specific terms.

If you are unable to clear the balance before the end of the 0% term, simply search for a new zero interest offer and transfer the balance to the new card. It is essential you keep up with your payments as paying late or missing payments can effect your credit rating and may stop you being accepted for credit in the future.
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