Low APR vs 0% Cards

This will depend very much on your own personal circumstances, and in particular on how much you feel you can reduce the amount you owe in the next 6 to 12 months.

Fixed Low Rate Balance Transfer Credit Cards
Currently, we know of one credit card issuer offering this kind of deal - the Capital One Platinum card. This is the best credit card for fixed, long-term balance transfers with a rate of just 3.9% and saw off the competition of the old "0% for life" Barclaycard Classic, which charged 6.9% for the same offer, but now offers a 9 month 0%offer on balance transfers and purchases. For more information on fixed low APR credit cards, take a look at "Low APR for life - what to look for."

0% Balance Transfer Credit Cards
The market is flooded with 0% balance transfer offers, many of which can be viewed in our credit card review section. As a general rule, you can expect an interest-free period of up to six months - this is what we are using for this comparison - although a few credit card companies such as Egg and Barclaycard offer longer periods.

What you need to consider when deciding which credit card is best.
The key question that you should be asking yourself when comparing these offers is "how much will I be able to repay over the next six months?"

If you think you will be able to find ways of repaying at least 50%, the 0% introductory offers are probably going to be the best type of credit card to opt for. Even if you are not able to repay the balance in full after six months, you will have benefited from 0% interest over the initial six months when the size of your debt was bigger.

We have calculated that, on average, by just making the minimum payment and an additional payment equivalent to the amount of interest you save each month, you can reduce your credit card balance by 27% in six months.

You may find that through effective budgeting, or because you are expecting an increased income, that you are able to make additional payments on top of this.