Have some credit card debt you need to move? Well, it’s not often you get the chance to transfer your credit card debt to a 0% card and get paid for it.
I’m sure many of us are in a similar situation. The Christmas period puts pressure on us all, and we can sometimes find ourselves overspending. Credit cards are often useful but are very short-term solutions. Interest rates are high and if you don’t clear that balance, it becomes harder and harder.
0% cards are often a great way to manage this debt, but these often come with fees. Some of you may remember that a couple of years ago, Halifax offered a credit card that offered 0% balance transfer, no fees and you could even earn money through TopCashback for signing up!
The good news is, American Express is offering a similar deal.
How does this work then?
The card in question? The “0% No fee Platinum 20 month balance transfer card“. Before you apply, make sure you get the right card! American Express has a plethora (I never get to use that word in public) of cards, so make sure you choose the right one.
The card will give you 0% on balance transfers (as long as they are made within the first 60 days) for a total of 20 months. On top of this, you will also receive 0% on purchases made within the first 6 months.
You are charged a fee of 2% for your balance transfer, but this is then refunded.
And I get paid?
Yep. Make a transfer of £2000 within the first 60 days, and receive £20 cashback. However, this offer ends on the 4th February 2019, so you need to be quick.
These cards always come with terms and conditions. Make sure that you keep up with regular payments and do not exceed your credit limit, otherwise, your 0% rate may be cancelled and you’ll lose your cashback.
And if you are just transferring debt, I recommend hiding your card away so you are not tempted to load up more debt!