Best 0% Credit Card Offers
Why would you want any other type of credit card than a 0% credit card right? Well in most cases that is certainly true. If you can be disciplined with your finances, it can be the cheapest way to borrow money for up to a few years at a time.
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Best 0% Poor Credit, Credit Card Deals
There are some key bits of information to bear in mind when choosing the right card for you. Firstly 0% isn't really 0%. Generally, all of the different credit card providers charge a fee to customers which is separate to the 0% interest that they charge on the money you borrow. Now don't panic the fee normally is a one-off low percentage fee.
The fees are usually anywhere between 1% and 3% on the credit cards that charge a one time upfront fee and can vary on the different types of cards. So there might be a specific fee to arrange a 'balance transfer' to pay off another credit card, or a different fee to carry out a 'money transfer', which is a transfer of money straight into your bank account.
Balance transfer fees are normally cheaper, so if you just want to pay off another credit card that is charging you full interest this one is for you. However, maybe you need the money to go into your bank account because you want to pay off an expensive non credit card debt. For instance, high interest charging borrowing like an overdraft, catalogue bill or high rate store cards, or because you want to use the 0% credit card as a type of loan to buy something, then money transfer is most likely going to be the option to choose.
It's common that the offers tend to be available up to a 3 year period, so if you want to make sure you have the balance all paid off using the 0% offer, generally divide the amount you borrow including the fee by the number of months the 0% is available, then set up your monthly payment for that amount. That way at the end of the 0% interest period the amount you borrowed will all be paid off. Only having cost you the upfront fee. Don't opt just to pay the minimum payment, otherwise, at the end of the 0% term, you will still have money owing and potentially have to pay the 'normal' rate the company charges, or to avoid that high rate, do another 0% credit card transfer to a new lender.
So say you borrow £5,000 as an example on a 0% card over 3 years with a total 3% fee, the entire cost would be just £150. Which to borrow that amount for 3 years is really cheap when compared to even a cheap personal loan. That's just £50 a year.
Remember you must stick to the lender's terms and conditions to keep the 0% deal, including things like not missing any payments or going over your credit limit.
Below we are going to show you some of the best 0% credit card deals that are available right now, so you can choose the best credit card offer that's right for you. Most credit card lenders have an 'eligibility check' you can do which won't harm your credit score, to see how likely to be approved you are before you apply.
Best 0% Balance Transfer Credit Cards
Barclaycard have a few different options to choose from. They are generally all for people with good credit and earning over £20k per year. The rate after the 0% period ends is currently 19.9% on all 3 of the cards shown below. Representative 19.9 APR (variable).
This one is the longest offer at 31 months. So remember if you want to repay all you owe by the end of the interest free period divide what you borrow including the fee by 31 months, to work out your monthly payment.
This o% credit card has a cheaper fee but last for slightly less time at 29 months. If you know you can pay it back easily within that time the cheaper fee might be more attractive to you.
Now cards that charge 0% interest and no fee, are pretty rare these days. So if you know you can repay the amount you need within the 2 years, this option is great as it won't cost you anything at all.
Great offer here from the Post Office, 32 months is currently one of the longest 0% low fee offers out there right now. Rate after the 0% period ends is currently 19.9%. Representative 19.9 APR (variable).
Another good offer here, although below they have a 0% credit card available with no fee for a shorter period. Rate after the 0% period ends is currently 19.9%. Representative 19.9 APR (variable).
Available for 4 months less but with no fee at all to borrow the money, They may offer you 23 or 20 months dependent on your credit history. Rate after the 0% period ends is currently 20.9%. Representative 20.9 APR (variable).
Not quite as good as the others but lets face it a rate of 2.69% for 30 months is still very cheap. Only need to earn over £5k per year. Rate after the 0% period ends is currently 18.9%. Representative 18.9 APR (variable).
Available for 8 months less but with no fee at all to borrow the money, They may offer you 18 or 12 months dependent on your credit history. Rate after the 0% period ends is currently 19.9%. Representative 19.9 APR (variable).