Introductory credit card offers

Introductory offers could mean you pay no interest whatsoever on your credit card purchases or balance transfers for a limited period (for example, six months). This is ideal if you aim to pay off a balance in a short time, rather than plugging away with minimum payments that barely cover the interest. However, you’ll need to stick to any time limits to get the best deal. We’ll tell you everything you need to know on uSwitch.com.

You may be charged a fee for balance transfers, either a percentage of the borrowed amount or a capped figure. A capped amount could be right for you if you’re borrowing more – but you’ll also need to bear in mind how long the interest free period runs and whether you will be able to afford to pay it off in that time.

Your 0% or low rate on balance transfers will either be:

• Until a fixed date for all customers
• Until a certain period after the sign up date (usually three, six or nine months)
• For the life of the balance (i.e. until you pay off its value)

You may want to look out for a deal with 0% or low typical rate on both purchases and balance transfers. This is because other cards will charge you higher than average rate for new purchases while you make payments to your interest free balance transfer, so this is something you’ll need to bear in mind.

Another variety of introductory offer applies if you're looking for a charity affiliated credit card – also known as affinity credit cards. This involves the credit card company paying a fixed amount towards your chosen charity when you sign up, as an incentive to apply.