Great for: consolidating and paying down credit debt
If you should be currently interest that is paying credit debt, you can change it into an interest-free loan by moving it onto credit cards providing 0% on transfers of balance.
Exactly how much am I able to borrow? Comparable to a 0% brand brand new purchase card, a 0% stability transfer bank card will typically suggest exactly exactly just what its maximum borrowing limit is before you use.
The borrowing limit being offered will depend mainly on the credit score, therefore do not immediately assume you’ll receive the maximum amount.
The length of time could be the money interest-free? Once again, this depends upon which card you decide on, however with these cards it is important you concentrate on the cost along with the 0% window to choose what exactly is perfect for you.
While TSB supplies the longest balance transfer duration all the way to 29 months (during the time of writing), it charges a hefty charge of 2.95%.