0% Balance Transfer & Spend Top all-rounder card up to 15 mths 0%

What's an all-rounder card?

Lots of banks offer great intro deals to entice new customers. On cards, these tend to be either good balance transfer credit card deals - where you shift expensive debt to a new card offering a cheap rate - OR an offer of low rates on new spending, for example, 0% interest for a year on all purchases (see Best 0% Credit Cards).

As their name suggests, all-rounder cards shout for custom by offering cheap intro rates on BOTH balance transfers AND purchases.

The intro deals available on these cards aren't ever likely to knock the 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 worth checking out as they won't damage your credit score with unnecessary applications.

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 are they good for?

• If you have a decent credit score, but are worried about too many applications, they could be good for you. These cards give you two uses, but with just one credit check.
• If you don't want the hassle of multiple cards. Many people struggle to juggle their cards, so having an all-rounder will save some of the difficulty, as 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 mainly looking to shift existing debt, don't bother getting one of these. You can get longer deals with pure balance transfer cards. See Best Balance Transfers.
• If you only want the card for new spending, then the all-rounder cards come close. But there are some other spending cards offering similar length 0% offers, which also allow you to build up points which can go towards freebies. See Best 0% Cards for Spending.

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

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

Worried about your credit score? Use our Eligibility Checker to find your chances without marking your credit file.

The all-rounder cards serve a dual purpose, but - if the application is successful - require only one credit check, 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. Make important applications before big upheavals (such as moving house, or if you've got maternity leave or suspected redundancy coming up) - though if you're asked about them on applications, never lie. 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. 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, then used correctly, credit cards are cheaper than loans.

This may be for a football season ticket, as buying one is cheaper than getting individual match tickets. 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 (often 30%).

Done right, it's possible to borrow at no cost.

• Work out how much you need
  
  

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

• Make at LEAST the minimum repayments
  
  

  Set up a direct debit for at least the minimum repayment as soon as you are accepted. Even though it's at 0%, you still need to make repayments. If you miss one, you will lose 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 past the 0%'s end and the rate will rocket. Calculate the monthly repayment needed needed to clear the balance by then eg, for �600 on 12 mths 0%, divide by no. of months - �600 / 12 = �50 - and set your direct debit to pay thatt.

• Diarise the end dates and SWITCH
  
  

  It's vital you make a note of the 0% end date (or use the Tart Alert), then ensure you pay off the debt by then, or switch again at that point (see Best Balance transfers guide) - otherwise, 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 you don't have to remember to shift from card to card, and you 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).

But in a huge number of cases, it was mis-sold. Borrowers didn't realise they were signing up for it, or it was totally unsuitable, 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 make sure 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.

Since 2011, banks have had to put any repayments towards the most expensive debts first. This means 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 you'll need to switch again.