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As a way of getting your business many card companies will offer introductory rates on purchases or balance transfers or both for a fixed period or a given date, after which time the card interest will revert back to the Standard rate.
Things to look out for include:
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The introductory expiry date – while this may be obvious you may get a shock when your card statement starts to show interest incurred at the standard rate of interest.
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How the introductory rate is applied to your balance e.g. some card providers will only apply the introductory rate to transferred balances and not new purchases.
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If you make a late payment or go over the credit limit is the introductory period forfeited.
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Many companies will charge a fee for transferring balances e.g. 2% of the balance.
Under the banking code the credit company is required to inform you that an introductory period is about to end 4 to 8 weeks beforehand.