0% credit cards
0% credit cards offer to take on new spending, or an existing credit card balance, and not charge interest on this money for a set period.
Designed to encourage credit card users to switch lenders, 0% credit card deals can prove great value - but consumers need to be aware of when their 0% period ends as interest rates often jump up afterwards.
Additionally, banks are increasingly charging consumers a fee to conduct a 0% balance transfer (normally no more than £50) after people – branded "rate tarts" - began switching cards every six months and never paying interest.
Consumers should also be aware that many card issuers allow interest to build up on new spending on the card, while any money paid in goes towards clearing the interest-free balances first.