Apply For A Zero Percent Balance Transfer Card

Top Balance Transfer Cards

At a time when personal debt levels are mounting across the nation and credit card interest rates are higher than ever, it has never been more important to find a suitable balance transfer credit card.

Follow these tips to finding the top balance transfer deals.

If you have credit card debt that you are struggling to repay, and your current card is charging you high interest on what you owe, take a look at these top 3 balance transfer cards.

MBNA Platinum

This Visa credit card is an excellent choice for those with outstanding debt on their credit card.  If a consumer is accepted they can transfer the balance for a 4 percent handling fee.

The card offers a lengthy period of 16 months 0 percent interest free on the balance if made within the first 60 days of account opening.

There is no annual fee, and card purchases are also 0 percent interest free for the first 3 months, after which the APR typical is 16.7 percent p.a.

Barclaycard Platinum

Barclays is offering £20 off the balance transfer fee when consumers move to this Barclaycard Platinum, transferring £3,000 or more by 28th February.

The 0 percent interest on balance transfers is available for up to 17 months, and also offers 0 percent on purchases for 3 months from account opening.

This card gives you the freedom to pay off your debt without interest accumulating, and also to make purchases without being charged.

Following this 17 month 0 percent interest period, the typical APR is 16.9 percent variable.

Virgin

The Virgin credit card offers 0 percent interest on balance transfers for the first 16 months of account opening, and so is another good choice to help consumers pay off their debts.

It also offers 0 percent interest on purchases for the first three months, with a 16.7 percent APR when this period expires.

Compare Credit Cards with MoneyExpert.

0 Balance Transfer Cards May Not Have Zero Percent Risk | Daily ...

A zero balance transfer may be a solution to most people who are deep into debt, but before making any transition, let’s go through the things that you need to know before making the transfer.

The catchy line, “0 percent introductory rate” may make your eyes shine, but what is not prominently advertised is the fee that you’ll be charged with before transferring the balance. The fee may range from 3% to 5% of your balance.

In order for you to properly assess the value of a transfer offer, you need to weigh the fee against any potential savings on interest charges. Take note that you need to be realistic on how fast you are going to pay off your balance.

A 0 percent introductory rate on balance transfers is standard. The importance is looking at the terms you face once that period ends. Check the interest rate that takes effect after the introductory period. Be aware that the interest rate on balance transfers doesn’t always apply to new purchases during the introductory period.

You might also want to consider the impact a balance transfer may have on your credit score. If you have strong credit, the impact of a balance transfer may be usually minimal over time. If you want to apply for bigger loans in the near future, keep in mind that applying for a new card dings your credit score in the short term because it suggests that you’re in need of money.