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Free Credit Cards

Many interest free credit cards available on todays market cover both 0% purchase durations combined with 0% on balance transfers, enabling you to get the best of both worlds from a single card. This means that you can transfer an existing balance from another credit card over, and use it to pay for new purchases, while paying no interest on your balance for the length of the 0% period.

However, it is important to remember many cards offer longer 0% balance transfer periods than interest free purchases, so if you intend to make use of both features it can get a bit more complicated.

For example, lets say you have a card offering 16 months 0% balance transfers, and 3 months 0% purchases. If you transfer £2000 across to your new card, but don't use it to make purchases, you can make use of the full length of the credit card enjoying 16 months interest free on your balance. Now, if you were to make a £100 purchase with every intention to pay it off before the 0% purchases duration expires, you may find that your payments come off the £2000 you transferred, and your £100 remains unpaid and begins to accumulate interest. This interest will continue to build up until the balance transferred has been paid off, only then can you pay the £100 owed.

If you are planning to use both features, try to pick a card that has similar 0% durations across the two, allowing you to keep your interest at 0%.