Click here to close now.


News Feed Item

What You Need to Know About Balance Transfers

LEEDS, UNITED KINGDOM -- (Marketwire) -- 01/03/13 -- Competition is heating up in the world of balance transfers with more and more cards emerging onto the market offering 0% interest deals. Now borrowers can choose from an even wider range of deals, however, it might be worth knowing your exact requirements before committing to a card.(i)

Asda Money has created a balance transfer credit card guide offering information for customers looking to find out more about balance transfer credit cards and what credit card customers may need to know about them.

What are balance transfers?

Balance transfers can be a way of reducing the amount of interest you might pay on cash you have borrowed on a credit card, store card, personal loan or other form of credit. It is a simple process of moving your borrowed money from one place to another in order to reduce the fees you might be paying. Typically, it is for large sums of money in the hundreds or thousands rather than the odd outstanding GBP 50.

What's the difference between providers?

There are a huge number of balance transfer credit cards on the market and it can be overwhelming to decide which one is right for you, should you choose to take one out. There are several things you should consider before taking out a balance transfer credit card. You should look at features such as the introductory rate, how much you are looking to transfer, how long you might take to pay off the amount and the length of introductory promotions such as 0% interest.

A lengthy 0% interest period can be anywhere between 12 and 22 months. A low annual percentage rate after the introductory period can also help consumers.

Compare rates

It is always worth comparing balance transfer cards to ensure that you get the best deal.

The Asda Money balance transfer calculator, available on the Asda Money website, can help you work out how much money you could save over the course of 12 months.(i) It will show you how much you can save if you transfer your existing credit balance over to an Asda Money credit card.

Notes to editors

(i)Source: Financial Times, Rise in 0 per cent balance transfer deals

(i) Source: Asda Money

About Asda Money Credit Card

--  1 % cashback on Asda shopping 
--  1% cashback at Asda filling stations 
--  0.5% cashback at all other shops 
--  0% balance transfers for 12 months(i) 

Representative example:

Standard Purchases: 14.9% p.a. variable.                                    
Representative APR: 14.9% variable.                                         
Total amount of credit:GBP 1200.                                            
This is for illustrative purposes only and actual total amount of credit may

(i)Balance Transfer Terms and Conditions: Balance Transfer fee of 2.9% (minimum fee GBP 3 per transaction) will be charged in respect of each Balance Transfer. Subject to account status. Account Terms and Conditions apply. You can Balance Transfer up to 80% of the available credit limit within the first 90 days of account opening. Balance Transfers from existing storecard accounts and loans issued by Creation Financial Services Ltd or Creation Consumer Finance Ltd and credit card accounts issued by Sygma Bank UK are not permitted. Minimum value for Balance Transfer is GBP 50. At the end of the promotional period you will be charged the Standard Rates of Interest in accordance to your Account.

Asda Money is a trading name of Asda Financial Services Limited. Asda Financial Services Limited uses a selection of companies to provide its products and services. Please refer to for details of our product partners and the relevant terms and conditions for each of our products and services.

Subject to status. Applicants must be aged 18 or over and UK resident (including Isle of Man and Channel Islands). The Asda Money Credit Card is issued by Sygma Bank UK, a Creation Group company, Chadwick House, Blenheim Court, Solihull B91 2AA.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Two weeks ago (November 3-5), I attended the Cloud Expo Silicon Valley as a speaker, where I presented on the security and privacy due diligence requirements for cloud solutions. Cloud security is a topical issue for every CIO, CISO, and technology buyer. Decision-makers are always looking for insights on how to mitigate the security risks of implementing and using cloud solutions. Based on the presentation topics covered at the conference, as well as the general discussions heard between sessi...
Continuous processes around the development and deployment of applications are both impacted by -- and a benefit to -- the Internet of Things trend. To help better understand the relationship between DevOps and a plethora of new end-devices and data please welcome Gary Gruver, consultant, author and a former IT executive who has led many large-scale IT transformation projects, and John Jeremiah, Technology Evangelist at Hewlett Packard Enterprise (HPE), on Twitter at @j_jeremiah. The discussion...
Too often with compelling new technologies market participants become overly enamored with that attractiveness of the technology and neglect underlying business drivers. This tendency, what some call the “newest shiny object syndrome” is understandable given that virtually all of us are heavily engaged in technology. But it is also mistaken. Without concrete business cases driving its deployment, IoT, like many other technologies before it, will fade into obscurity.
With all the incredible momentum behind the Internet of Things (IoT) industry, it is easy to forget that not a single CEO wakes up and wonders if “my IoT is broken.” What they wonder is if they are making the right decisions to do all they can to increase revenue, decrease costs, and improve customer experience – effectively the same challenges they have always had in growing their business. The exciting thing about the IoT industry is now these decisions can be better, faster, and smarter. Now ...
In his General Session at DevOps Summit, Asaf Yigal, Co-Founder & VP of Product at, explored the value of Kibana 4 for log analysis and provided a hands-on tutorial on how to set up Kibana 4 and get the most out of Apache log files. He examined three use cases: IT operations, business intelligence, and security and compliance. Asaf Yigal is co-founder and VP of Product at log analytics software company In the past, he was co-founder of social-trading platform Currensee, which...
The Internet of Things is clearly many things: data collection and analytics, wearables, Smart Grids and Smart Cities, the Industrial Internet, and more. Cool platforms like Arduino, Raspberry Pi, Intel's Galileo and Edison, and a diverse world of sensors are making the IoT a great toy box for developers in all these areas. In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists discussed what things are the most important, which will have the most profound...
Discussions of cloud computing have evolved in recent years from a focus on specific types of cloud, to a world of hybrid cloud, and to a world dominated by the APIs that make today's multi-cloud environments and hybrid clouds possible. In this Power Panel at 17th Cloud Expo, moderated by Conference Chair Roger Strukhoff, panelists addressed the importance of customers being able to use the specific technologies they need, through environments and ecosystems that expose their APIs to make true ...
In today's enterprise, digital transformation represents organizational change even more so than technology change, as customer preferences and behavior drive end-to-end transformation across lines of business as well as IT. To capitalize on the ubiquitous disruption driving this transformation, companies must be able to innovate at an increasingly rapid pace. Traditional approaches for driving innovation are now woefully inadequate for keeping up with the breadth of disruption and change facin...
The cloud. Like a comic book superhero, there seems to be no problem it can’t fix or cost it can’t slash. Yet making the transition is not always easy and production environments are still largely on premise. Taking some practical and sensible steps to reduce risk can also help provide a basis for a successful cloud transition. A plethora of surveys from the likes of IDG and Gartner show that more than 70 percent of enterprises have deployed at least one or more cloud application or workload. Y...
PubNub has announced the release of BLOCKS, a set of customizable microservices that give developers a simple way to add code and deploy features for realtime apps.PubNub BLOCKS executes business logic directly on the data streaming through PubNub’s network without splitting it off to an intermediary server controlled by the customer. This revolutionary approach streamlines app development, reduces endpoint-to-endpoint latency, and allows apps to better leverage the enormous scalability of PubNu...
Microservices are a very exciting architectural approach that many organizations are looking to as a way to accelerate innovation. Microservices promise to allow teams to move away from monolithic "ball of mud" systems, but the reality is that, in the vast majority of organizations, different projects and technologies will continue to be developed at different speeds. How to handle the dependencies between these disparate systems with different iteration cycles? Consider the "canoncial problem"...
Growth hacking is common for startups to make unheard-of progress in building their business. Career Hacks can help Geek Girls and those who support them (yes, that's you too, Dad!) to excel in this typically male-dominated world. Get ready to learn the facts: Is there a bias against women in the tech / developer communities? Why are women 50% of the workforce, but hold only 24% of the STEM or IT positions? Some beginnings of what to do about it! In her Day 2 Keynote at 17th Cloud Expo, San...
Apps and devices shouldn't stop working when there's limited or no network connectivity. Learn how to bring data stored in a cloud database to the edge of the network (and back again) whenever an Internet connection is available. In his session at 17th Cloud Expo, Ben Perlmutter, a Sales Engineer with IBM Cloudant, demonstrated techniques for replicating cloud databases with devices in order to build offline-first mobile or Internet of Things (IoT) apps that can provide a better, faster user e...
Container technology is shaping the future of DevOps and it’s also changing the way organizations think about application development. With the rise of mobile applications in the enterprise, businesses are abandoning year-long development cycles and embracing technologies that enable rapid development and continuous deployment of apps. In his session at DevOps Summit, Kurt Collins, Developer Evangelist at, examined how Docker has evolved into a highly effective tool for application del...
I recently attended and was a speaker at the 4th International Internet of @ThingsExpo at the Santa Clara Convention Center. I also had the opportunity to attend this event last year and I wrote a blog from that show talking about how the “Enterprise Impact of IoT” was a key theme of last year’s show. I was curious to see if the same theme would still resonate 365 days later and what, if any, changes I would see in the content presented.