Welcome to our 0% balance transfers page where we have the latest deals from UK credit card providers offering 0% introductory balance transfer credit cards.

Understanding 0% Balance Transfers

The idea of paying no interest on your credit card debt seems almost too good to be true, yet that’s just what 0% balance transfers offer. In the early days of such transfers, people would transfer balances from card to card to take advantage of successive 0% rates. That meant that in theory people could pay no interest on their credit card debt for several years, by which time they would have paid off the debt.

The 0% rates started as a way for credit card companies to win new customers, but the practice of rate tarting soon showed that it was the customers, not the credit card companies, that were winning. There are still 0% balance transfers to be had, but the conditions tend to be very different and it pays to shop around.

One key issue to look at is how long the 0% period lasts. This may only be a couple of months. It’s much rarer now to have a long term 0% rate. Another major issue is whether there’s a balance transfer fee attached. Many credit card companies now charge a balance transfer fee which can wipe out any benefits from getting the 0% balance transfer rate. So, how do you find good 0% balance transfers?

As with most financial products, the secret is to comparison shop. There are several lenders out there, so using some sort of financial comparison service online may be an easy way to do it. You need to look for how long the rate lasts and, more importantly, what the rate will be once the preferential period ends. That is a more accurate reflection of what your credit card debt will really cost you every month. Look to see what fees, if any, will be charged and then you’ll be able to use all these factors to determine whether the overall deal is good.

The secret to using 0% balance transfers effectively is to continue to pay your debt at the level you paid before transferring the balance. This means that while you are paying no interest, you will reduce the debt. The goal is to have less of a debt to pay interest on when the incentive period ends. Used properly, 0% balance transfers can be a great way to reduce debt, as long as card holders don’t use the incentive period as an excuse to get further into debt.

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