All about Best Balance Transfer Credit Cards

We’ve spoken about the horrendous rates people are paying for their store cards and credits cards before. We’ve been having a look around at the best balance transfer credit cards currently on the market (we’ll keep this list updated as and when). Before we dig too deep, we’ll talk about balance transfer.

What is Balance Transfer?

Basically, it’s where one credit card company pays off your debt on other credit cards or store cards – this then leaves you owing money to the new company but can save you a lot of money. Here’s an example; Bob owes £2000 on a card from ‘Hand over Fist Credit Co.’ at a APR of 18%. Bob takes receives a new credit card from ‘We’re Here To Help Credit Co.’ and then transfers his £2000 debt on this new card. The bonus here is that the new card gives him 0% interest for 18 months. Quids in!

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