Why is it worth making a Balance Transfer?

If you have a large outstanding balance on one or more credit and store cards – you will undoubtedly be able to save money by transferring your balance to another credit card.

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What happens when I apply online?: Many online applications will result in a provisional decision within 20 seconds.
How can I protect myself when buying online?: As long as you have not been negligent, you're always fully protected against fraudulent charges when using the Internet to make purchases.
How is interest calculated?: Interest is calculated on a monthly basis on the outstanding balance if full payment has not been received.
How can I pay off my balance?: There are number of ways you can choose to pay off your credit card balance - either by Direct Debit, by Debit Card over the phone, by bank transfer from your bank or by cheque.
What is the new Chip and Pin system?: The new Chip and PIN initiative is a system being introduced in the UK in 2004 to reduce counterfeit and stolen card fraud.

This is because many credit card companies offer excellent introductory rates on balance transfers in order to get your business. There are many companies which offer this introductory rate for 6 months, and a few that offer 0% on balance transfers for 9 months. This gives you a chance to pay off your balance without worrying about the interest charges, which could potentially be very high.

If you are very organised, you can make the most of this system by opening a new credit card account every 6 months, and transferring your balance on to it. If you cannot pay your balance off in full before the introductory rate ends, this is the next step in avoiding paying interest on your credit card debts.