A 0% credit card or interest free card is also known as an introductory balance transfer card. The 0% rate applies to any balance transferred onto the card within a fixed period of time from when you open the card account. The 0% rate is fixed and at present many cards offer you 12 or 13 months of zero percent credit. After this time the rate reverts to a typical Apr often slightly higher than the rate charged on new purchases with you credit card. 0% cards also have charges for moving a balance onto them. The handling charge, as it is known is often between 2.5 and 3% with a minimum amount being applicable. The fact is even with these charges in place your 0% period far out weighs bank loan rates and charges or most other deals you can find due to the amount you are owing.

In this day and age many people spend on a 0% purchase card, then move the debt over to an introductory balance transfer card and take full advantage of a good period of zero percent rates with low charges leaving them with more money available to reduce their debt before the 0% period ends. Some of the 0% cards on this page also offer rewards or reward points. Factor these in and further savings or benefits can be gained making you credit card a very useful thing to have.