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Balance Transfer Credit Cards

A 0% balance transfer credit card offers an introductory interest rate of 0% for a set period of time. You can transfer a balance from an existing credit card to the new one and not pay any interest on this balance until the offer expires. Start your comparison below. 

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Best Balance Transfer Credit Cards

Best Balance Transfer Credit Cards

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We found 54 products in total, of which 4 have links to providers.

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  • HSBC Balance Transfer Credit Card Visa
    Total Cost of Borrowing
    £5,273 including fees and interest
    Balance Transfer Rate
    0.00%
    Balance Transfer Period
    0.0% for 27 months
    Transfer Fee
    3.49% (minimum £5.00)
    APR
    24.9%
    Time to Payback
    36 months
    Go To Provider's Site
    Representative Example: Based on a credit limit of £1200.00 charged at 24.9% variable per annum for purchases. Representative 24.9% APR variable.
  • M&S Bank Credit Card Transfer Plus Offer Mastercard
    Total Cost of Borrowing
    £5,301 including fees and interest
    Balance Transfer Rate
    0.00%
    Balance Transfer Period
    0.0% for 26 months
    Transfer Fee
    3.49% (minimum £5.00)
    APR
    24.9%
    Time to Payback
    36 months
    Go To Provider's Site
    Representative Example: Based on a credit limit of £1200.00 charged at 24.9% variable per annum for purchases. Representative 24.9% APR variable.
  • HSBC Purchase Plus Credit Card Visa
    Total Cost of Borrowing
    £5,837 including fees and interest
    Balance Transfer Rate
    0.00%
    Balance Transfer Period
    0.0% for 16 months
    Transfer Fee
    3.49% (minimum £5.00)
    APR
    24.9%
    Time to Payback
    39 months
    Go To Provider's Site
    Representative Example: Based on a credit limit of £1200.00 charged at 24.9% variable per annum for purchases. Representative 24.9% APR variable.
  • M&S Bank Aggregator Credit Card Purchase Plus Offer Mastercard
    Total Cost of Borrowing
    £6,220 including fees and interest
    Balance Transfer Rate
    0.00%
    Balance Transfer Period
    0.0% for 12 months
    Transfer Fee
    3.49% (minimum £5.00)
    APR
    24.9%
    Time to Payback
    42 months
    Go To Provider's Site
    Representative Example: Based on a credit limit of £1200.00 charged at 24.9% variable per annum for purchases. Representative 24.9% APR variable.
  • Barclaycard Platinum 29 Month Balance Transfer Visa
    Total Cost of Borrowing
    £5,226 including fees and interest
    Balance Transfer Rate
    0.00%
    Balance Transfer Period
    0.0% for 29 months
    Transfer Fee
    3.45%
    APR
    24.9%
    Time to Payback
    35 months
    Representative Example: Based on a credit limit of £1200.00 charged at 24.9% variable per annum for purchases. Representative 24.9% APR variable.
  • Virgin Money 27 Month Balance Transfer Credit Card Mastercard
    Total Cost of Borrowing
    £5,259 including fees and interest
    Balance Transfer Rate
    0.00%
    Balance Transfer Period
    0.0% for 27 months
    Transfer Fee
    3.25%
    APR
    24.9%
    Time to Payback
    36 months
    Representative Example: Based on a credit limit of £1200.00 charged at 24.9% variable per annum for purchases. Representative 24.9% APR variable.
  • Santander Everyday Long Term Balance Transfer Credit Card Mastercard
    Total Cost of Borrowing
    £5,267 including fees and interest
    Balance Transfer Rate
    0.00%
    Balance Transfer Period
    0.0% for 26 months
    Transfer Fee
    3.00% (minimum £5.00)
    APR
    23.9%
    Time to Payback
    36 months
    Representative Example: Based on a credit limit of £1200.00 charged at 23.9% variable per annum for purchases. Representative 23.9% APR variable.
  • MBNA Limited Long 0% Balance Transfer Credit Card Mastercard
    Total Cost of Borrowing
    £5,269 including fees and interest
    Balance Transfer Rate
    0.00%
    Balance Transfer Period
    0.0% for 27 months
    Transfer Fee
    3.49%
    APR
    23.9%
    Time to Payback
    36 months
    Representative Example: Based on a credit limit of £1200.00 charged at 23.94% variable per annum for purchases. Representative 23.9% APR variable.
  • The Co-operative Bank Balance Transfer Credit Card Visa
    Total Cost of Borrowing
    £5,305 including fees and interest
    Balance Transfer Rate
    0.00%
    Balance Transfer Period
    0.0% for 24 months
    Transfer Fee
    3.00% (minimum £5.00)
    APR
    20.6%
    Time to Payback
    36 months
    Representative Example: Based on a credit limit of £1200.00 charged at 20.6% variable per annum for purchases. Representative 20.6% APR variable.
  • TSB Platinum Balance Transfer Card Mastercard
    Total Cost of Borrowing
    £5,320 including fees and interest
    Balance Transfer Rate
    0.00%
    Balance Transfer Period
    0.0% for 24 months
    Transfer Fee
    2.95%
    APR
    22.9%
    Time to Payback
    36 months
    Representative Example: Based on a credit limit of £1200.00 charged at 22.95% variable per annum for purchases. Representative 22.9% APR variable.
Note

moneyfactscompare.co.uk is an independent credit broker not a lender. We will receive a payment from credit providers where customers link to them from Moneyfactscompare.co.uk. None of these arrangements affects our independence.

Disclaimer

All credit cards are subject to the applicant’s status. The APR quoted is representative of the interest rate offered to most successful applicants. Depending on your personal circumstances the APR you are offered may be higher, or you may not be offered credit. Fees and rates subject to change without notice. Please check all rates and terms before borrowing.

Provider Links

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Balance transfer credit cards explained

At a glance

  • The great thing about a 0% balance transfer credit card is that (providing you don't make any purchases or withdraw any cash using your card) 100% of your payment goes towards reducing your debt.
  • You will have to pay a balance transfer fee which is normally between 3% - 4%.
  • Make sure that you pay at the very least the minimum payment each month – Ideally you should aim to repay more than this to ensure you clear your debt before the introductory interest free period ends.
  • To make the most efficient use of your 0% balance transfer card avoid making any new purchases or withdrawing any cash on your credit card.

How 0% balance transfer credit cards work

Most credit cards will let you transfer a balance, although this will be subject to the following conditions:

  • Your credit limit.
  • The size of the balance you want to transfer.
  • Who the balance is with (if your balance is on a card that is part of the same banking group, you may not be allowed to transfer it). 

If you want to transfer a balance, you will normally have to pay a fee to the credit card provider you are transferring the balance to. This is usually in the region of 3% to 4% of the amount you transfer, although some fees can be higher while other providers charge absolutely no fee at all.

At the end of the introductory period, your transferred balance will go onto your lender's standard balance transfer rate, which will most likely be around 20 - 25% per year.

Do... Don't...
  • Make sure you pay at least the minimum payment each month on your credit card, otherwise the provider may decide to withdraw the introductory 0% offer and put you on a more expensive interest rate.
  • Try to pay more than the minimum balance – It’s unlikely you’ll clear your debt before the interest-free period ends if you only pay the bare minimum.
  • Make a monthly repayment plan and try to pay more than the minimum payment. Some providers will let you set up a Direct Debit for a set amount or fixed percentage every month or you can set up a standing order, so take advantage of this and get your debt repaid!
  • Make purchases or withdraw cash using the credit card, as this will mean that you're paying interest and not using the card in the cheapest and most efficient way.
  • If you like to spend on your credit card, keep a separate card for purchases. However, even if this has a generous interest-free period of its own, try not to spend too much as you could end up paying off one debt only to find you have run up another!
  • If you have a big purchase in mind, and want to do a balance transfer at the same time, you could go for a combined 0% card for balance transfers and purchases. These tend not to have the longest 0% period for either transfers or spending, but on the plus side you have just the one card to manage.

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How to transfer a credit card balance

In order to transfer a credit card balance, you’ll first of all need to decide how much you’re looking to transfer to the new card, though remember that you’ll be restricted by its credit limit. You’ll want to check your eligibility too – most card providers will let you fill in an eligibility form that will only perform a soft search on your credit report before you complete an application, and therefore won’t dent your score if you’re not eligible – and if you’re confident in being accepted, you can apply for the new card. 
Most lenders will ask you for details of the balance transfer when you’re applying, including the card you’re looking to transfer from and how much you’re looking to transfer (bear in mind that you won’t be able to transfer a balance between two cards from the same banking group, so make sure to check). The lender will then assess your application, taking into account your income, affordability and credit history (this is when a full credit check is performed), and if approved, the transfer will normally be put in motion automatically once the new card is activated. However, it could still take a few days for the funds to clear, so make sure to keep up with any repayments on the old card until you’re confident the transfer has gone through.  

 

Try our new credit card calculators

Calculate what you need to know before applying.

Balance transfer calculator – calculate how much you could save by switching to a 0% balance transfer credit card.

Minimum repayment calculator – calculate how long it will take to clear your balance when only making the minimum repayments.

Repayment calculator – calculate how quickly you could pay off your credit card.

Is having a zero balance on credit cards bad?

Having a zero balance on a credit card isn’t necessarily a bad thing; indeed, it may even work in your favour. Unused cards show lenders that you’re not struggling financially, that you can manage multiple accounts, and also that you’re not using all the credit that’s available to you. You can also be safe in the knowledge that you’ve got a backup available should you need credit in future, such as in the case of an emergency, without needing to reapply.

However, there are some scenarios in which you may want to consider closing unused cards. Lenders don’t like seeing that you’ve got access to too much available credit, so if you’ve got several open but zero-balance cards, they may be less likely to grant you access to alternative forms of finance in the future. Similarly, those who have been working on improving their credit score may like to close repaid accounts, as doing so shows that the trend is going in the right direction.

It’s all about striking the right balance between having enough available credit without having too much, which is particularly important if you’re considering applying for a mortgage or another large finance agreement in the near future.

How much credit card balance should I carry?

Ideally, your credit utilisation should be 30% or less – and in many cases, a maximum of 25% is recommended – to show lenders that you’re comfortably managing your credit commitments. This means your credit card balance shouldn’t be higher than 30% of its credit limit, but make sure to factor in other cards and loan agreements to ensure you’re not using more than 30% of your total available credit. Higher balances can impact your credit score.

How do I check my credit card balance?

Thanks to online banking, many people will be able to check their credit card balance by logging into their account and/or their smartphone app, which can usually give real-time updates about their balance, statements and payment dates. The same applies with telephone banking.

What happens if I have a credit balance on my credit card?

If you’ve overpaid your credit card and have a credit balance – perhaps by receiving a refund, or making an extra payment without realising you were up to date – the card provider owes you money. They’ll usually refund it to the current account associated with your card; this may be automatic or you may have to request it, depending on your provider. Alternatively, you can spend on your card as normal and the purchases will come out of the positive balance.

Can I overpay my credit card to increase the limit?

No, overpaying your credit card doesn’t increase the credit limit. You may have more credit available to you, but it’s tied up in the card, and will have no impact on your credit score or financial footing. The only potential outcomes are that it gets refunded, or you spend on the card to bring the balance back to zero. It’s also worth pointing out that overpaying will technically be against your card’s terms of use, so while it may happen accidentally, it isn’t advisable to purposely overpay. The only way to increase your limit is to make a direct request to your credit card provider.

What happens if I pay more than the minimum on my credit card?

Paying more than the minimum on your credit card can be a very good thing, as it means you’re repaying more of the balance and will therefore pay less interest, and will ideally be debt-free sooner. Only ever repaying the minimum means it will take a lot longer to clear the balance and you’ll be charged more interest, so it’s always advisable to pay more than the minimum if you can.

Use our minimum repayment credit card calculator and see the difference between only paying the minimum balance each moth compared to paying more. 

When should I pay my credit card balance?

This depends on a number of factors, but whether or not you’re benefiting from any interest-free deals will likely be a key consideration. If so, there’s no need to pay off the balance until the interest-free period comes to an end, though you’ll still need to make the minimum repayments and may want to make sure you’ve got the means to repay it when that date arrives (such as by saving money into a separate savings account so you’ve got a lump sum ready) to avoid additional interest charges.

Otherwise, you can clear the full balance at a time that suits you, though remember that the longer it takes to clear, the more you’ll be charged in interest. It’s for this reason that it’s often recommended to repay the balance in full each month, thereby avoiding interest altogether, which is particularly important if you’re using the card to benefit from cashback or similar rewards to ensure that interest doesn’t negate any benefits earned.

Can I use my credit card the same day I pay it off?

This will depend on your individual card and its payment terms, and how long the payment takes to clear. This may only take a few hours if you transfer from a current account, though you’ll want to make sure it’s cleared and credit is available so you don’t go over the limit. Of course, if you already had available balance left before making the payment, you can continue to use the card regardless.

Is credit card churning illegal?

Credit card churning is the process of applying for multiple credit cards to benefit from introductory bonuses, before clearing or closing the cards once the benefits have been earned. It isn’t illegal, though it’s often frowned upon by credit card providers, and some will stipulate that previous beneficiaries of a bonus won’t qualify a second time. You also run the risk of lowering your credit score if you apply for too many cards in quick succession, and may find that you’re refused a new card altogether.

Be careful not to get into further debt

When you take out a new credit card to transfer a balance, the danger is that you put a balance back on your old card and end up with twice the problem.

If you don't want that to happen, you could:

  • Cut up your old card to prevent you from spending on it and close the account with the card provider.
  • Ask your credit card provider to reduce your credit limit.

You must still make the minimum payment!

Unlike some interest-free loans you may get from furniture or electrical retailers, a 0% interest credit card does not mean that you don't make payments for an initial period.

You must pay at least the minimum payment every month: you can set up a Standing Order from your current account to avoid missing it.

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