Balance Transfer Credit Cards can greatly improve your monthly Credit Card outgoings

Credit Cards that offer balance transfers at a lower rate are a great way of reducing your outgoings. Credit Card companies will offer you a low interest rate if you transfer your current credit card balance to theirs. This can be in the form of a low balance transfer rate for the life of the balance or a 0% introductory rate for a limited period, usually 6 to 9 months.

If you have a lot of store cards then you would be well advised to transfer all these balances onto one of these types of cards. Store cards charge some of the highest interest rates on the market. An interest rate of 30% is not unheard of. You will save a fortune in interest payments by transferring the balance to a credit card with a much lower interest charges. This can be in the region of between 10% and 15 % giving you a 15% saving on interest. Store cards are just an excuse to buy at that store. It’s by no means exclusive as you can buy the same item using your low interest credit card and even not end up paying any interest if you still fall within the 0% introductory period. Make sure your card offers 0% on purchases as well if you are planning on doing this. Not all 0% credit cards will offer this on purchases as well.

Best Buy Balance Transfer Credit Cards:

Egg Credit Card

RBS Credit Card

Virgin Credit Card

Natwest Credit Card

GM Platinum Credit Card