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Purchases and balance transfers credit cards
Purchases & transfers
| Company | Package Name | APR | Balance Transfer Rate & Period | Balance Transfer Notes | Introductory Purchases Rate & Period | Notes | |
|---|---|---|---|---|---|---|---|
Representative Example: 16.8% p.a. (variable) on card purchases. This is equivalent to 16.8% APR representative (variable) based on a credit limit of £1200. Virgin Money, Stansfield House, Chester Business Park, Chester CH4 9QQ | |||||||
Representative Example: 17.5% APR representative (variable). Based on a credit limit of £1,200 and a purchase rate of 17.5% p.a. (variable). Barclaycard, 1 Churchill Place, London E14 5HP | |||||||
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What are Balance Transfer and Purchases Credit Cards?
Balance Transfer credit cards offer a 0% balance transfer from your existing credit card over an initial promotional period. Purchase credit cards will furnish you with 0% on purchases during a similar period.
What are the benefits of these two cards?
These cards allow you to take advantage of two of the most attractive credit card offers available, and obtain a rate of 0% interest on balance transfers for up to 15 months, and 0% on any purchases for up to 12 months.
What else should I know about Purchases & Transfers Credit Cards?
A fee in the region of 2.5% is charged to transfer a balance to a new card. The 2.5% fee relates to 2.5% of the balance being transferred (if you’re transferring a balance of £3000, the fee equate to £75).
Beware of one offer finishing before the other, as any repayments you make are likely to be paying off the cheaper portion of your balance. Therefore, you will be racking up high levels of interest on the other, more expensive part.
If you want to find out more then read our guide to 0% balance transfer credit cards.