The Best Lifetime Balance Transfer Cards

If you don't have the discipline to take advantage of 0% credit card deals, a 'lifetime balance transfer' is your next best option.

In a recent article I commented on how apathetic people must be after the British Bankers' Association reported that three quarters of all credit card balances attract interest with the average interest rate on credit card lending standing at 15.7%. That's a lot of interest people are paying when there's really no need.However, it's all very well me extolling the virtues of interest-free credit card deals if you're not the sort of person who wants to bother with keeping track of when an introductory 0% deal expires. After all, most of these deals last six to nine months and having to find a new 0% credit card so frequently may not be your cup of tea. Lenders offering these deals have also taken to charging transfer fees, usually 2% of the balance in order to recoup their losses from the rate tarts taking advantage.For you the lifetime balance transfer is probably preferable according to the independent comparison website, Moneyfacts, the market for them has become quite competitive recently.These provide a longer-term low fixed rate deal which stays in place until the balance on the card is paid off. Lifetime balance transfer deals are usually fee-free and rates are often lower than even the 'best buy' personal loan rate, so it's worth consumers considering lifetime balance transfers as a hassle-free alternative to using the 0% interest card or consolidation loan options.According to Moneyfacts the best balance transfer rates for life on offer at the moment are:CompanyRateBritish Airways American Express4.9%Intelligent Finance Visa4.95%Airmiles5.8%Morgan Stanley Cashback5.9%Nectar Credit Card5.9%Sainsbury's Bank Visa Card5.94%Don't forget that if you opt for a lifetime balance transfer, it's important not to use the card for further purchases as the low rate will usually only apply to the debt you initially transferred. New purchases will generally attract a higher rate of interest although both Intelligent Finance and Sainsbury's Bank are both offering an introductory 0% rate on new purchases for eight and ten months respectively.You can apply for the Amex and Sainsbury cards right now in ourCredit Card Centre.