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It has a rapid growth in the availability of zero percent rates in the credit card industry. These were the combination of very low national rates, and the injection of fierce competition from American lenders such as Capital One. The UK credit card industry today is considered one of the most demanding and competitive ! credit markets, recognized in the world.

One of the most popular innovations in recent years has been the introduction of thetransfer the balance to zero percent. This has revolutionized the finances for many indebted people. How it works if you have a very high interest rates are one of you from credit card balances are, then you can transfer them to a new credit card. In exchange for your business in this way, the new credit card provider will give you one percent interest on the sum for a period of usually transferred is zero, six to nine months.

While you are takingAdvantage of this offering zero percent, is highly recommended because you can literally save hundreds on interest rates there are precautions that you should take if you want to avoid some costly mistakes. The first thing is to realize that there are different types of zero percent. What are you most likely to come into contact with is zero percent on balance transfers and zero percent on purchases. You sh! ould not mess up.

If you zero percent on balanceThen passes, does not mean that you have zero percent on purchases, so that all purchases you make during your zero percent will not take it at zero percent but at your normal rate. This can be very important when we see the situation as an example.

Suppose you have five pounds on a credit card 15%. If you transfer them to a card that you can find the 0% balance transfers for nine months, hundreds of interest you save. However, provided that the new cardalso has a standard rate of 15%. Well, if your five thousand safe for him to 0%, but if you hundreds of pounds worth of purchases. And then you pay back a hundred pounds, which is one hundred you pay back the money to be applied at the first hundred of the five thousand balance transfers. This will leave you with 4900, to zero percent balance transfer to the left, and 100 as a purchase that attracts the standard 15%! .

This way you can quickly see howZero percent balance transfer is a 15% purchases balance.

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