Ruth Jackson rounds up the best deals available now on credit cards, including the best balance-transfer deals, the best 0% purchase deals and the best life-of-balance cards.
The best 0% balance transfer deals
Barclaycard is offering the longest 0% interest rate for balance transfers on its Platinum card. It offers 0% on balance transfers for 20 months with a 3.2% balance transfer fee. That's a good deal, but the fee is quite high.
If you think you can repay your debt in 18 months, then you are better off going for eitherNatWest or Royal Bank of Scotland's Platinum card, both of which offer a deal of 0% on balance transfers for 18 months with a 2.8% transfer fee.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
With both cards, make sure you either clear your debt within the 0% period, or switch cards when the interest-free period is set to end - as the interest rates rise to 17.5%APR and 16.6%APR respectively.
The best 0% purchase deals
If you are looking for a credit card offering 0% interest on purchases, try Marks & Spencer. The Marks & Spencer credit card offers 0% interest on purchases for 15 months, then the rate rises to 15.9%.
The best life of balance cards
Barclaycard has the best life of balance card. It offers a rate of 7.9%APR on its Barclaycard Platinum Simplicity card. And there is no balance transfer fee. This rate applies to both purchases and balance transfers, so this is also the best low-rate credit card on offer.
Updated: 2 June 2011
-
Barclays warns of significant rise in social media investment scamsInvestment scam victims are losing an average £14k, with 61% of those falling for one over social media. Here's how to spot one and keep your money safe
-
Over a thousand savings accounts now offer inflation-busting rates – how long will they stick around?The rate of UK inflation slowed again in March, boosting the opportunity for savers to earn real returns on cash in the bank. But you will need to act fast to secure the best deals.
