Balance Transfer and Purchase Credit Cards

If you are looking for some time and space to pay off your existing credit card balance you could well benefit and save money with a balance transfer credit card. Alternatively, if you are planning to buy a big ticket item on credit but don’t want to pay high rates of interest it would be worth considering a 0% purchases credit card.

	Virgin 12/12 0% on both purchases and balance transfers for 12 months	12 months (2.98% admin fee)	12 months
		** Manage your account online **
	Barclaycard Platinum Purchase Register and manage your account online and opt for paperless statements	12 months (2.90% admin fee)	12 months
		** 24 hour Customer Service Assistance **
	Sainsburys Shopper Specifically for Sainsburys shoppers who use a Nectar Card	12 months (3.00% admin fee)	12 months
		** 0% on all purchases for 12 months **

0% Transfer and Purchase Cards

Alternatively, you may want to do both at the same time and this is where a balance transfer and purchases card can really help you.

Balance transfer and purchase cards often come with 0% periods of similar lengths giving you the chance to make the most of an interest free transfer offer while also retaining the ability to use your card for purchases.

The advantage of this type of card is that you don’t need to worry about your purchase offer ending before your balance transfer offer, or vice versa, whereas you would with either a standalone balance transfer card or a purchases card.

Let’s say you transfer a balance and then make purchases using a standalone balance transfer card. This would normally result (under current legislation) in your repayments going towards your transfer balance, which is accumulating interest at 0% for longer, rather than your purchase balance, which will accumulate interest at your typical APR once the shorter purchase 0% period has ended, costing you more in the long run.

However, with a balance transfer and purchases card, both offers are around the same length therefore meaning that you save money on interest.

Product Offers
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