0% Balance Transfer & Spend Top All-Rounder card up to 17 mths 0%

Most credit cards offer either a good deal on balance transfers OR purchases, but some do a bit of both. You can currently get up to 17 months 0% on spending and transfers.

The individual offers aren't table-topping, but together mean you can get a strong deal while only applying for one card, so you don't damage your credit score with unnecessary applications.

What's an all rounder card?

Lots of banks offer great intro deals to entice new customers; on credit cards these tend to be either good balance transfer deals (where you shift expensive debt to a new card offering a cheap rate) or an offer of low rates on new spending e.g. 0% interest for a year on all purchases.

As their name suggests, the 'All-Rounder' cards shout for custom by offering cheap intro rates on both balance transfers AND purchases.

The intro deals available on the top '0% balance transfers (BTs) and spending' cards aren't ever likely to knock the other, more-specialised cards off their top spots individually, but if you want to both move debts from an existing expensive card and also need to use a card to spend on, these are an option worth checking out.

When to use it?

These cards aren't for everyone, so make sure you fit the criteria, as it's possible another card could be better.

Who's it good for?

• If you have a decent credit score, but are worried about too many applications they could be good for you. As these cards give you two uses, but with just one credit check.
• If you dont want the hassle of multiple cards. Many people struggle to juggle their cards, so having an all-rounder will save some of the difficulty, you won't have to worry about whether or not it's the right card to spend on.

Who shouldn't get it?

• If you're predominately looking to shift existing debt don't bother getting one of these, as you can currently get longer deals with pure balance transfer cards, see the Best Balance transfers guide.
• If you only want the card for new spending, then the all-rounder cards come close, however there are some other spending cards that offer similar length 0% offers, but also allow you to build up points which can go towards freebies, read more in the Best 0% Cards for Spending article.

What's the advantage of getting balance transfers & spending together?

Lots of credit searches - the notes left on your file when you apply for credit eg. cards, loans, mortgages, car insurance, even phone contracts - in a short space of time hurt your credit rating, possibly impairing your ability to get new products.

The all-rounder cards serve a dual purpose, but require only one credit check - if the application is successful - protecting your credit rating. This allows you to space out applications more effectively, so your file isn't smashed hard and fast with multiple searches.

There's more you can do to manage and boost your credit rating eg. make important applications before big upheavals (such as moving house, or if you've got maternity leave or suspected redundancy coming up) - though never lie on applications, if asked. Full details and loads more tips in the full credit rating guide.

Also, if you've previously had a card from a provider, it's unlikely you'll get another one from the same company for a while. If this applies, go for the best card that you haven't had recently.

Ensure your borrowing stays free

Debt is like fire, used well it's a great tool, used badly you'll get burned. Unless you're financially disciplined and doing it tactically for stoozing it's always worth borrowing as little as you need, and where possible using savings instead of borrowing.

The worst thing to do with a credit card is to use it to fill the gaps your income doesn't meet each month, that will see borrowings constantly grow and can leave you in a debt spiral (see the stop spending guide for more).

Quick steps to keep the cost down

However if you need to borrow for a defined purchase, credit cards used correctly are cheaper than loans.

This may be for a football season ticket, as buying it is cheaper than getting each one individually; you may need a new sofa as the old one's kaput; or it might be to pay for a year's car insurance as the insurer's interest rate for paying by the month is huge.

Done right it is possible to borrow at no cost.

• Work out how much you need.
  
  

  Don't borrow more than you need, do a Budget Planner to ensure you can meet the repayments, use the card as a bespoke tool to do a specific job and stay disciplined.

• Make at LEAST the minimum repayments.
  
  

  Ensure you set up a direct debit for at least the minimum repayments as soon as you are accepted, even though you are paying 0% you still need to make repayments. If you miss one you will loose your 0% deal, so the rate will jump and you'll get a £12 charge.

• Clear the card within the 0% period.
  
  

  Go even one month beyond the promotional period and the rate rockets, so calculate the amount needed to clear the balance by then. E.g. To borrow £600 on a year's 0% card, divide the spend by the number of months (£600 / 12) to get the monthly repayment, in this case £50 and set up a direct debit to do that.

• Diarise the end dates
  
  

  It is vital that you diarise the 0% end dates (or use the Tart Alert) to ensure you pay off the debts in time, or be ready to switch to a new balance transfer deal (read the tarting explanation and the Best Balance transfers guide). If you forget to switch when the deal ends, the interest cost will swiftly outweigh the card's benefit.

Best buys: Top 0% transfer & purchase cards

All these deals require you to pay a one-off fee when you do the debt transfer, the trade-off is you get it interest-free for a long time.

Cheapest long term low rate deals

Here the aim is to get a card where the low rate is for the long term, not just an introductory offer. While not 0%, it does mean that you don't have to remember to shift from card to card, and know you've got a deal for the long term.

Think before adding the 'insurance'

Payment protection insurance is commonly sold with credit cards - the idea is it'll make some payments for you, usually for a year, if you are unable to (eg, if you lose your job).

There have been a myriad of cases where it has been missold eg, borrowers didn't realise they were signing up for it, or it was totally unsuitable for them, and some big lenders have been fined.

The protection isn't always bad, though policies sold with cards are often overpriced (you pay a monthly amount depending on the size of your balance). If you want it, compare the lender's cover with standalone providers such as Paymentcare or Best Insurance.

Always be vigilant to check you aren't getting more than you bargained for when you fill in the application, then check your statement each month to check you aren't inadvertently paying for extras if you didn't ask for them.

Beware of varying length deals

Credit cards allow us to do a number of different things such as spend, shift balances or withdraw cash. From the start of 2011 the rules on where your credit card repayments are allocated changed.

Banks must now put any repayments towards the most expensive debts first. This means that spending on a balance transfer card isn't as bad as it used to be, but can still cost you if you're not careful.

With all-rounder cards you don't have to worry as much as they're designed for both functions. Though if you have an intro deal it's important to keep an eye on what the rates will change to and if needs be switch to a new deal then.