0% balance transfer

dolly4
dolly4 Community Member Posts: 23 Connected
in Money and bills

Hi can anyone help with how and if there a good thing 0% balance transfer on a credit card, I always pay more the my minimum payment but with the APR rate of 29.8 it's going to take till 2028 to pay it off I only owe £1,700 thank you for any help given

Comments

  • OverlyAnxious
    OverlyAnxious Community Member Posts: 6,028 Championing

    Hi,

    0% balance transfer is a good thing because you will save on the interest as you said.

    Often they are only 0% for up to 3 years, but it sounds like will have paid it off much sooner than that anyway.

    It's not usually possible to balance transfer within the same banking group, so you will have to open an account with a different banking group. This can be done online easily.

    Martin Lewis has a good comparison page for all credit cards, just select 0% from the dropdown list.

    Credit Card Eligibility Calculator

  • dolly4
    dolly4 Community Member Posts: 23 Connected

    Thank you.

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