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Oxfam
Oxfam is a development, relief, and campaigning organisation that works with others to find lasting solutions to hunger, poverty and suffering around the world.
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Unicef - for every child
UNICEF is the driving force that helps build a wor...
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- Credit Card News
- Most Popular News
Credit card fraudsters target Amazon
Credit card fraudsters have begun targeting online shopping giant Amazon in a bid to steal personal information.
Debt counselling service to receive donation from bank
A Christian bank is to make a sizable donation to a Christian debt counselling service in light of predictions that call volumes will increase this year.
Homeowners advised to pay builders with credit card
Thisismoney.co.uk reports that home improvements made to properties over the next few months should be paid for with credit cards if possible.
Flintshire council tenants using credit cards to pay rent
According to the Evening Leader reports new research from the Liberal Democrats suggesting that many of Flintshires council tenants are using credit cards to pay their rent.
Economic downturn to convince more to pay off their credit cards
According to MoneyExpert.com, an executive with Equifax believes that many Britons will react to the economic downturn by trying to pay off their credit cards in full.
Credit Card Balance Transfers
Balance Transfers are one of the most potent weapons in a credit card companies arsenal to entice you to sign up to their card. In recent years, with historically low interest rates and fierce competition between credit card companies for your balance transfer many companies now offer balance transfer rates of 0% for up to 9 months.
So what exactly is a credit card balance transfer. Quite simply it is transferring an existing balance from one credit card to another. In the process swapping from a high interest rate to a low one. If you have a credit card with an outstanding balance and you are not on the introductory rate then you need to transfer that balance to another card with a low balance transfer rate now! It could literally save you hundreds of pounds a year in interest charges.
There are 2 types of balance transfer offer. Most last for a fixed period of time, say 5 - 9 months after which they revert to the standard interest rate on the card. these are fantastic value as most offer 0% balance transfers for the introductory period. it is important to remember that after the introductory period the rate will be at the higher, standard rate normally around 15% APR. The best idea is to keep switching the balance between different credit card companies and use the special balance transfer rates to pay no interest until you pay off the debt.
However, this does involve considerable commitment on your part to make sure you change the card every 6 months or so, otherwise you will end paying a high rate of interest - exactly what the credit card companies want!
Another option, if you don't think you can commit to changing cards regularly is to go for a long term balance transfer rate. these don't last for a few months but apply until the balance is paid off on the card. These are typically around 3-5% APR and will save you money if you feel switching cards is not right for you. You need to be aware however, that any payments you make come off the balance transfer funds first so any spending on the card may be charged at full interest.
See our guide to the best balance transfer credit cards for more details or see the options below.
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Virgin Credit Card
The Virgin credit card allows you to choose the features and benefits that you really need. So you can get 0% on balance transfers for 15 months, a standard rate of just 16.6% APR, and earn rewards on everything you buy with the card. You get to choose your own funky Virgin card design to make the card that little bit more individual. You can apply and manage your account online too making this one of the most flexible cards around.
Virgin Credit Card Review
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Capital One Platinum Credit Card
The Capital One Platinum credit card offers some market leading interest rates in a very attractive package. You get a fixed rate of 8.5% APR on balances transferred and purchases until 2012. So if you find that swapping cards for 0% deals is too much work this could be a great value deal and one of the lowest interest rate cards around.
Capital One Platinum Credit Card Review