Cards listed by combined duration of 0% balance transfer and purchase offer.
| Product Name | Balance Transfer | Purchases | Rewards | Representative APR (Variable) |
Product Reviews |
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|---|---|---|---|---|---|---|---|
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Nationwide Building Society Select Card |
0%
|
0%
|
Cashback |
12.9%
|
Read review |
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Halifax All In One |
0%
|
0%
|
Rewards |
17.9%
|
Read review |
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|
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Barclaycard Platinum with Purchase |
0%
|
0%
|
Music |
18.9%
|
Read review |
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NatWest YourPoints World MasterCard |
0%
|
0%
|
Rewards |
17.9%
|
Read review |
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Royal Bank of Scotland YourPoints World MasterCard |
0%
|
0%
|
Rewards |
17.9%
|
Read review |
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Virgin Credit Card |
0%
|
0%
|
Rewards |
18.9%
|
Read review |
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Sainsbury's Credit Card |
0%
|
0%
|
No rewards |
16.9%
|
Read review |
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Tesco Clubcard Credit Card |
0%
|
0%
|
Clubcard |
16.9%
|
Read review |
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Bank of Scotland All In One |
0%
|
0%
|
Rewards |
17.9%
|
Read review |
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AA Rewards Credit Card |
0%
|
0%
|
Rewards |
16.9%
|
Read review |
|
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Creation Purchase Credit Card |
0%
|
0%
|
Rewards |
17.9%
|
Read review |
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Credit cards can be an easy and convenient way to pay for that impulse purchase or to buy a big ticket item, such as a new washing machine or even a holiday.
But credit cards can also help you manage your finances. Let’s say you have racked up debts on a card that charges a high rate of interest. If you transfer the balance to a cheaper credit deal, you can save money. And if the new card charges 0% interest for an introductory period, then you can borrow the cash for free.
You can compare hundreds of credit card deals at MoneySupermarket. Our free online comparison service is quick and easy to use and will help select the best card for you.
Some credit cards give great rates on purchases; others tempt customers who want to switch a debt from another card. But what if you want a good deal on your spending as well as your balance transfer? A number of cards offer both, usually for an introductory period, so you can apply for just one card for all your needs.
If you can combine low or no interest on balance transfers and purchases, then you only need apply for one card, which can make life simpler.
It can also help you manage your budget as you will only have to make one payment a month. And you won’t be tempted to double your debt by maxing out on two cards!
Savvy cardholders can also use the cards to get free credit. Let’s say you switch a balance of £1,000 to a card that charges 0% for 12 months. If you set up a direct debit to ensure the debt is cleared by the end of the introductory period, then you will pay nothing for the loan.
It works just as well for purchases. If the card offers a 0% deal on purchases for 6 months, you can buy that designer handbag on your next shopping trip. As long as you pay off the debt after six months, the credit is free.
You could even stash the cash in a savings account until it is time to clear the debt, so your money works even harder.
It is important to be aware that the interest rate will shoot up when the introductory period comes to an end. If you still owe money on the card, the debt could therefore be expensive.
Always make a note of the date when the offer period expires – and remember that the offer period for balance transfers might be different from the offer period for purchases. So you need to be organised if you don’t want to get caught out.
You should also look out for balance transfer fees, which generally range from about 2.5% to 3% of the outstanding balance.
If you think you can juggle two cards, you might be able to get a better deal if you take out one card for purchases and a separate card for balance transfers.
Keep up-to-date with the latest credit card news in our thriving community. Everything you need to find the best credit cards including expert articles and videos.
Keep up-to-date with the latest credit card news.
08 February 2012
07 February 2012
02 February 2012
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