Introductory Offers

Introductory credit card offers can mean that for a limited period of time (between 3 and 6 months) you might not have to pay any interest charges on balance transfers or purchases. If you are aiming to clear an existing credit card sooner rather than later then this kind of offer is suited to you.

Balance transfers
Some credit card companies that provide introductory offers may charge a fee for balance transfers that is either a percentage of the balance or a standard set fee. If you are transferring a large existing balance then you may do better off with a card that has a set balance transfer fee. It's also worth identifying how long the introductory interest rate lasts for to ensure you can pay off your card before it kicks in.

An introductory interest rate on balance transfers is usually offered:

• up to a fixed date for any customer that applies

• for a period of time after sign up such as 3 months or 180 days.

• for the life of any transferred balance

What will I be charged if I use my card?
If you transfer your balance as part of an introductory offer then be sure to check the standard interest rates on new purchases as these tend to be quite significant and may not be something you can afford, especially if you are paying off your existing balance.