What is an Interest Free Period?
This term is pretty self explanatory, but in essence you have a period of 0% interest on your credit balance. Most bog standard cards offer this as a matter of course, for periods of 6 months and more on transferred balances. What you really need to keep an eye on is what the interest rate will revert to once outside the 0% period. This can catch you unawares if you forget to pay the balance off, or forget to transfer to another 0% deal elsewhere.
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