What is a low or zero interest balance transfer?
Credit card issuers want you to switch your business to their card so they entice you with a great low rate if you transfer your debt to their credit card. Balance transfers can save you hundreds or even thousands of dollars in interest repayments.
A promotional balance transfer rate has a set period – three, or six or 12 months or sometimes longer. A balance transfer deal can help you pay off your card debt. Make sure you understand the print and know what the promotional rate will revert to when the introductory period is over.