Credit Card balance transfer best buys was the subject matter for moneysavingexpert Martin Lewis and his Minute Money Challenge on yesterday’s It Pays To Watch. In the current financial climate it is becoming increasingly difficult to get approved for a credit card and people also have to be on the lookout for the best deals around. This lowdown on the best credit card balance transfers is courtesy of Martin Lewis.
If you can clear your debts quickly, the Abbey Zero credit card lets you balance transfer to it at 0% for 6 months. The crucial benefit of the Abbey Zero credit card is that there is no fee.
If you need longer to pay off your debts, or if you are a dedicated ‘card tart’, ie someone who disloyally continually shifts 0% debts around from card to card, then the Barclaycard One Pulse credit card may be right for you. The Barclaycard One Pulse credit card offers 0% interest for 14 months, however there is a 2.5% transfer fee for this credit card.
Alternatively, Virgin have a credit card called the Virgin Card (by MBNA) which offers 0% interest for 15 months, but there is a 2.98% transfer fee, slightly higher than the Barclays One Pulse card.
Other longer 0% interest deals (all with fees) can be found from Halifax, Capital One and Tesco credit cards.
It Pays to Watch money saving expert Martin Lewis said that most people should actually forget the 0% interest credit card deals and lock in cheap interest rates for the long term. A good card for this is the Barclaycard Platinum credit card, which offers a rate of 6.5% interest for life, and the good news is that the Barclaycard Platinum card is free of fees. You need to earn over £10,000 a year to apply for a Barclaycard Platinum credit card.
Alternatively, and the final item featured on It Pays to Watch with Martin Lewis, the Citibank Platinum iTunes Mastercard offers a lower interest rate of just 4.9%, however this card comes with a 3% transfer fee.
If you are struggling with your debts, you may want to consider a number of solutions offered by 123 Debt Solutions. To take the first step on the road to becoming debt free, visit 123 Debt Solutions by clicking here
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