What types of 0% credit cards are available?
0% balance transfer could be useful if you already have a credit card and are being charged a high interest rate on the outstanding balance. You can transfer the balance from one card to another and pay 0% interest over the term.
With this type of card, you’ll typically be charged a fee (normally 2-3%) on the amount you transfer. However, this is much less than the interest rate you might be charged on an existing card, which can be anywhere from 15-20%.
0% purchase card These cards offer you 0% on your spending for a set period of time. These zero rate credit cards can be a real help if you need to pay for an expensive purchase – but when the interest-free period ends, you’ll be charged interest on what you owe on your card.