I'm considering applying for another credit card with my existing bank. (It's a Platinum Credit Card if any one is interested).
The site states: 0% on balance transfers for 16 months
What does this actually mean in layman's terms?
Also, what would be the benefit of having this on my card? Is there any? Currently I only have one other credit card on a student account, but have various options to upgrade and was considering this.
Much obliged for further information.