Advice for newbie please

2Good2BTrue_3

Can someone please confirm the following for me please?

If I transfer the balance of my credit card to Citibank taking up their Life of Balance Offer I pay a fee for the tranfer and thereafter no interest, never?

I can then make regular payments on the balance until its finally paid off?

I can put the Citibank card away and never use it, without any penalty?

I can also open another account with another provider to use for spending only.

Isn't that too good to be true?

Many thanks.

Phantom_Flan_Flinger

You haven't stated which card you have, though none of the cards offer 0% Life of Balance that I could see.

The best I found was the Platinum card with no balance transfer fee, but 5.8% interest per annum on the life of the balance, so you will pay interest.

The Citi Platinum MasterCard With iTunes Rewards has a lower interest rate but there's a fee attached to the transfer.

The 0% balance transfer offer cards are only for 12 months.

Their card offers are here.