The New Year has started out with a few very good credit card offers, especially for those with good to excellent credit histories. A forecast by Santander noted that Brits could transfer more than £2.8 billion in 2011, with the average transfer being just over £1,000. This is down from the peak transfer rate of £2,290 at the end of 2008.

Millions of people have twigged to the benefits of switching to 0% balance transfer cards as a positive step toward managing their finances. But it is important to differentiate between 0% balance transfer cards and 0% purchase cards. Only rarely do you get both in the same card, and when you do, the 0% period may be different for balance transfers and purchases.

In most cases, using a 0% balance transfer card should be limited to balance transfers only, because interest rates on purchases average over 16%, and there is usually a much shorter 0% period for purchases when the card is aimed at people looking to make use of an interest-free balance transfer offer.

The Barclaycard Platinum with Balance Transfer credit card currently has the longest 0% transfer offer at 18 months (subject to a 2.9% admin fee). Plus, if you are transferring £3,000 or more to your new Barclaycard between now and the 28th February 2011, you will receive £20 off the admin fee you pay.

If you want a 0% purchase card, compare credit cards based on purchases.

The Tesco Clubcard Credit Card currently has the longest 0% purchase deal, at 13 months. After that, the representative APR goes to 16.9%. The Barclaycard Platinum Card offers 0% purchases for 12 months, plus reward points, while existing NatWest and RBS current account holders can get 0% purchases for 13 months with the Classic Card.