0% Balance Transfer Credit Cards
0% balance transfer credit cards are suitable for people who already have an existing balance on another card.
Moving the balance onto a 0% APR balance transfer credit card gives you a limited amount of time during which you will pay no interest on the balance.
The most important thing to remember is that the 0% period is temporary. Unless you pay off your balance in full before the 0% period expires, you will have to start paying a relatively high standard rate of interest. Alternatively you can transfer your balance to another 0% balance card.
Be aware that in order to keep your 0% balance transfer offer ongoing you are usually required to pay the minimum payment each month.
Also worth noting is the fact that most credit card issuers will charge you a fee to transfer your balance onto the new card.
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