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What should I look out for with balance transfer credit cards
Written by lifang   
April 22, 2008 16:14

Read the small print. For example, if there is not a 0% rate for purchases, you will have to pay interest on these at the standard rate.

 If you choose a card that offers 0% for the life of the transferred balance, watch out for a 'minimum monthly spend' clause used by some card issuers. If you fail to meet this minimum level, you'll have to pay the typical interest rate on everything. Any repayments you make will go towards your balance transfer, so you will pay interest on purchases until you have paid the balance transfer in full.