Card or loan for debt consolidation?

Jess Bown
Credit cards
Credit cards

Sainsbury's Finance estimates that personal loans worth £1.5 billion will be taken out in the first three months of this year by consumers keen to consolidate their debts.

However, while M&S Loans is currently offering interest rates of just 6.0%, you can avoid interest charges altogether for almost two years with a 0% credit card. So which is the best option for you?