Credit card balance transfer

Credit card balance transfers are when you transfer one outstanding balance on your credit card to another credit card. This is often done to take advantage of some special introductory rates or deals.

Some credit card companies offer 0% balance transfers as a way of attracting more business in an ever increasing competitive market. These deals are very welcome to people who struggle to pay off their balance every month.

There can often be a "sting in the tail" do not be surprised when after the introductory period ( usually 6 months ) that there is a sudden increase in your interest rate.

Your credit card provider is legally required to inform you of any rate increases well before they occur, please be aware.