Hi all,

Assume I have a balance of £2k on Card A, with an APR of 16%. If I transfer this balance to Card B, with 0% on balance transfers, am I right in thinking that if I pay off the minimum repayment every month then I don't get charged any extra interest?

Forgive the obvious question, but I'm easily confused by the banter about 'paying off balances'. I don't want to pay off the balance, I just don't want to pay any more interest! Have I got it straight?

Yes, you are almost correct. There will be a one-off fee for the transfer (perhaps 2% or 3%) - but this is a "transaction fee" and not "interest".

If you are a day late with the minimum payment any month or if the balance remains after the promotion period ends, you will have interest to pay though.

does the interest get backdated if the balance isnt paid off by the end of the interest free period? thanx in advance

No. They don't give you any reminders but they start adding interest just from the end of the promotion period. It's worth putting the date in your diary though so that you can look for other options around that time if there is still a balance.