Compare 0% 12
Month Credit Cards

Credit cards can be an effective tool to spread the cost of purchases over time, allowing you to take the pressure off big purchases and use for a whole array of other handy features.

Balance transfers provide the means to move a balance accumulated from one credit card, to another. In the past, 0% 12 months on balance transfers was about the longest period any credit card would provide, but there was no fee for moving a balance. This created a new breed of credit card users, know as stoozer. Stoozing is a technique carried out by credit cards users whereby a balance is moved to a credit card for the 0% 12 months interest free period on balance transfers, then moved to another card to use up the new interest free period and so on.

Nowadays almost all credit cards will charge a small fee (usually 2-3%) for transferring a balance to deter users from attempting to cheat the system. This means that, for example, you want to transfer a balance of £1000 across with a fee of 3%, you will be charged £30 for the transaction which will be automatically added onto your balance. This is still better than exceeding your introductory period and paying a typical rate of 15%+ so it is well worth switching if you can't pay the balance in time.