“0% p.a. on balance transfers...”
These deals effectively offer an interest free loan. Free money? Maybe, but not if you end up paying fees.
Of course, if... Read More...
BUT NO INTEREST FREE PURCHASE PERIOD
Remember that the ‘up to 55 day interest free’ period for new purchases, only applies when the balance is paid off in full by the due date, so if you are taking advantage of a balance transfer interest holiday, any new purchases will incur interest from day one – in this case at a rate of 20% per annum.