About Pennies to Pounds Business

Put simply, a 0% spending card offers a number of months where no interest is charged on new purchases. This can save you £1,000s compared with the same borrowing on a standard credit card (assuming you pay them off over the same period of time). So done right, there's no cheaper borrowing – though they're not an excuse to overspend. We'd only suggest using a credit card to borrow for a needed, planned, affordable, one-off purchase, for example, replacing a broken fridge. This means borrowing as little as possible and only an amount you can pay back during the 0% period.

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Of course, with the cost of living crisis, it can be tempting to get one to fill gaps in your income. That's a mistake, as the need to repay it will just add to your future costs, and make life more difficult. Though if you are doing it anyway, borrowing at 0% is better than paying interest. Yet it's far, far better to avoid borrowing to fill gaps in your income if you can – do read our Debt help guide for more info.

• Create a budget
• Review budget every quarter
• Adjust budget

Put simply, a 0% spending card offers a number of months where no interest is charged on new purchases. This can save you £1,000s compared with the same borrowing on a standard credit card (assuming you pay them off over the same period of time). So done right, there's no cheaper borrowing – though they're not an excuse to overspend. We'd only suggest using a credit card to borrow for a needed, planned, affordable, one-off purchase, for example, replacing a broken fridge. This means borrowing as little as possible and only an amount you can pay back during the 0% period.

‍

Of course, with the cost of living crisis, it can be tempting to get one to fill gaps in your income. That's a mistake, as the need to repay it will just add to your future costs, and make life more difficult. Though if you are doing it anyway, borrowing at 0% is better than paying interest. Yet it's far, far better to avoid borrowing to fill gaps in your income if you can – do read our Debt help guide for more info.