Thinking about moving your credit card balance to a 0% deal?

At the moment it looks like there are some great deals out there as card providers fight for your business. Almost as soon as Virgin Money and MBNA announced they had matched Barclaycard's 18 month 0% deal, Barclays came back with a 20 month interest free period.

So a bargain then? Well maybe not, because like with many apparent bargains what the seller gives away in one area they claw back somewhere else. In Barclaycard's case that's the transfer fee which at 3.2% is higher than Virgin Money at 2.89% and MBNA at 2.8%. But even with the fee it's not straightforward because Barclaycard give a 25% discount if you transfer more than one balance.

What's the best deal for you will depend on your circumstances. As ever, it pays to do your research before taking a headline grabbing deal.

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