FYI – Another thing to look out for . . . . . a couple of years ago I did a balance transfer of a couple of grand onto a 5 month 0% interest virgin card, and then a few days later accidentally used the same card to buy a tank of petrol.
When my next statement came through it had the 2k at 0% interest plus an additional balance of £50 for the fuel. I sent off a full payment, in good time, for the £50 and a minimum payment for the 2k (which was maybe £25)
The next months statement had an intrest free balance of £1925, a repeated balance of the £50 for fuel and interest on that £50 of a few pounds.
When I phoned to query their “mistake” they informed me that the £50 couldn’t be paid off until the interest free balance was cleared. In other words all payments I made over the next 5 months would go towards the figure that was costing me nothing. This left the £50 for fuel untouchable and earning them interest for the full 5 months – with nothing I could do about it. I paid all the balances in full immediately and never used them again, but imagine if you were desperate and you did an interest free transfer of say 10k, and then had to use the card to but something for 1 or 2k? They’d make a mint on interest on the 1 or 2k and you’d have to clear the 10k first.
Of course it’s all in the small print . . . . .