Apply for balance transfer credit cards

Credit cards in UK offer different benefits and advantages to the owner of the card. As a customer, you have the option to choose what kind of credit card you want and what will its primary usage be. Some people want a credit card with low interest rates while others want a credit card that offers them a good rate or 0% on balance transfers. Balance transfer is a method of moving the debt of one credit card to another. Most people use it to save money because these days most UK credit card companies offer an initial 0% interest period for balance transfers. You can also secure your existing debts through transfer of balance from several cards.

You can apply credit card in the UK specific to balance transfers and once your application is approved, you will get the credit card so that you can transfer all your existing debts from other cards to the new card. When you choose a balance transfer credit card, the chances are that most companies will first look into certain things before they can issue a balance transfer card to you. The important criteria’s include:

• The amount of balance transfer that you want to make or you are looking at
• What is the length of 0% interest period do you want on your balance transfer card
• The current interest rate on your existing card
• How much money are you ready to spend on your credit card every month
• How much money would you be able to pay back on the outstanding of the card

One very important aspect of applying for a balance transfer card or any credit card for that matter is that you should always read what is written in the fine print before signing the document. Sometimes, some card agencies mention in the fine print that the 0% on balance transfers is valid only for 3 months. If you don’t read the fine print then you will never know about this and it will be a complete loss for you.

There are some balance transfer cards, which offer 0% on the life of the balance to be transferred. If you choose such a card then always find out what the minimum monthly spend will be for that card. These cards mention in the fine print that if you don’t meet your minimum monthly spends then you will be charged a normal interest rate. Some of the good balance transfer credit cards that you can apply for are:

Barclaycard Platinum

This card has a great offer of 0% interest for balance transfers within 12 months. Of course you will be charged handless fees of 2.5%

For the first 3 months, the interest will be 0% on purchases

Apart from this, you will get free fraud or theft protection, free protection on purchase delivery, global assistance, great deals on partners like Avis, Domino’s pizza, Emirates, Marriott, blockbuster, CDWow.com, laithwaites, CenterParcs and many more.

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