My Macmillan

Credit cards

Credit cards can be a cheap way to borrow for short periods.

However, they can be costly over long periods – watch out for fees as well as interest.

If you don’t pay off your credit card in full every month, you may be paying interest. You could transfer your balance to another card, some of which offer 0% interest deals for a limited period.

If you do this, you’ll need to weigh up the savings against any balance transfer fee.

To find the best credit card deals, look at the tables published in the personal finance pages of newspapers, or use an online price comparison website.