0% credit card trans­fer deals

Kentish Express Ashford & District - East Kent Property - - MONEYLIVING -

Could now be a good time to con­sider a 0% bal­ance trans­fer cards?

Th­ese cards en­able peo­ple to cut the cost of bor­row­ing by mov­ing ex­ist­ing card debt on to an­other card which charges at a low rate or no in­ter­est at all for a spec­i­fied pe­riod.

And at the mo­ment, credit card cus­tomers look­ing to shift debt to a new provider are be­ing of­fered in­ter­est-free bal­ance trans­fer terms av­er­ag­ing a record length of 590 days

Ac­cord­ing to fig­ures from Money­facts.co.uk, across the credit card mar­ket, the av­er­age 0% in­ter­est in­tro­duc­tory bal­ance trans­fer term has in­creased from 468 days a year ago, up to the 590 days now.

This av­er­age is the high­est Money­facts has recorded in its data go­ing back to 2006.

This means bal­ance trans­fer cus­tomers can get a 590-day pe­riod when they will not be charged in­ter­est on debt they have trans­ferred onto a new card from else­where.

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.