Are 0% Balance Transfer Offers On Credit Cards Worth Taking Up?

If you have a debt on a card with an ordinary interest rate, probably about 12-18% APR, then moving that debt to a credit card that's offering 0% on balance transfer is well worth doing.

The main thing to do is make sure you can pay the minimum amount off each month as some balance transfer offers will revert to the ordinary interest rate if you miss a payment. They probably will not alert you to this either. Its also very important to keep track of the date when the 0% offer ends, as most are for six months, perhaps nine months. You then need to transfer the balance to another card with the same or a similar offer.

There are some cards that now offer a low rate for the life of the balance, although it probably won't be 0%. This may be worth considering as you do not have to worry so much about the end of the period.

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