With more transfer credit cards out in the world the fascination has turned to the 0% balance transfer credit cards and how this could benefit us. If you have a few credit cards with money owed that you are paying a standard interest rate on it may be worth taking out a 0% balance transfer credit card.

By taking out this sort of credit card and moving the outstanding balances on your other cards to it you could save money, every payment you make during the interest free period goes towards the balance outstanding.

If you are considering a 0% balance transfer card beware of  any fees your chosen lender may apply when you make the transfer. Certain lenders charge up to 3% of the amount transferred.

When you decide on a credit card lender like any financial commitment it is important you have read and understood the terms and conditions.