0% interest credit cards

There are hundreds of credit card providers offering new customers 0% APR credit cards for new purchases and / or balance transfers, usually over a limited promotional period of six to 12 months in order to generate new business.

If used in the right way zero per cent credit cards can work as a form of free credit but you need to be organised and disciplined in order to get the benefits from them or you could end up paying more than you need to in interest payments.

If you are paying interest on a current account overdraft, or wish to make a major purchase, such as a new car, a 0% credit card could act as a short term interest free loan and help you manage and spread your repayments over a period of months.

It is vital that you pay off the debt before the interest-free period ends so that you avoid paying any interest on the debt and remember to switch to a better deal if you can when the interest-free period runs out.

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