It’s not hard to find a good card - Credit cards - News - Moneyfacts

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It’s not hard to find a good card

It’s not hard to find a good card

Category: Credit cards

Updated: 08/06/2010
First Published: 08/06/2010

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

If you're a credit card borrower looking for a 0% balance transfer credit card to help get your financial house in order, there's now little excuse not to make a change.

Research from Moneyfacts.co.uk has found that the number of 0% balance transfer credit cards offering 0% on balance transfers for at least ten months has increased by 20% over the past 12 months.

While just 60 providers offered such 0% balance transfer credit cards a year ago, there are now 72 lenders all vying for your attention.

Switching to a 0% balance transfer card allows you to pay off your outstanding balance without incurring any more interest.

As long you can pay back the balance transferred in the allotted interest free period, which can often be well over a year, then no interest will be paid.

0% balance transfer cards from well known names, including Virgin Money, BT and the AA, are all currently on offer.

Meanwhile, there's also good news if you're a credit card borrower looking to pay no interest on new purchases for a few months.

According to Moneyfacts.co.uk, the last year has seen a massive 450% increase in the number of credit cards charging no interest on new purchases for at least ten months.

Indeed, some cards, including those available from Virgin Money and Sainsbury's Finance, will let you make a new purchase on your credit card and pay no interest for a year.

While just two credit cards offering 0% for ten months or more on introductory purchases were available a year ago, 11 such credit cards are available today.

So whether you're looking to fund a holiday, a wedding or even buy a new TV to watch the World Cup, there's little reason not to find a credit card deal to suit you.

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Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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