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Top 5 balance transfer credit cards for Christmas

Top 5 balance transfer credit cards for Christmas

Category: Credit cards

Updated: 29/10/2013
First Published: 29/10/2013

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

With Christmas rapidly approaching a lot of consumers are looking for ways to cut the cost of their festive spending. Well, why not use balance transfer credit cards to spread the cost?

Balance transfer cards can be a great way to pay off Christmas debt without needing to rack up huge amounts of interest in the process, and if managed efficiently they can be a great way to spread the cost of Christmas.

Purchases made on another credit card can be transferred over to the new one, and with some offering 0% on balance transfers for two years or more consumers will be able to pay off their festive spend in small monthly amounts without accruing any more debt.

As with any credit card, balance transfer cards need to be managed effectively. In this case customers need to ensure the full amount can be paid off by the end of the interest-free period, and with purchases being subject to a separate interest rate they should try to avoid using these cards for further spending.

Cardholders should also be aware that failing to meet minimum repayments will mean interest rates will be applied, effectively cancelling out the benefits, so they need to be confident that they can keep up with regular repayments.

Here are the current top 5 balance transfer credit cards:


Representative purchase APR (variable)
Card details


Barclaycard Platinum
30 Month Balance Transfer Visa

18.9% APR
  • Introductory 0% on balance transfers for 30 months from date of issue
  • Introductory balance transfer fee of 2.90%
  • Introductory 0% on purchases for 6 months
  • Contactless payments of up to £20
  • Customers must be aged 21 or over with a minimum income of £20K

Penny saysPenny says…
"Taking the top spot in the balance transfer sector is the Platinum 30 Month Balance Transfer Visa from Barclaycard, offering a market-leading 0% on balances for the first 30 months – the longest introductory balance transfer period currently available.

"Cardholders can also benefit from 6 months 0% interest on purchases to add to the appeal."


Representative purchase APR (variable)
Card details

Barclaycard Platinum
28 Month Balance Transfer Visa
18.9% APR
  • Introductory 0% on balance transfers for the first 28 months
  • Introductory balance transfer fee of 2.49%
  • Introductory purchase rate of 0% for first 6 months
  • Contactless payments up to £20
  • Minimum age and income restrictions apply

Penny saysPenny says…
"Sitting comfortably in second place is the Platinum 28 Month Balance Transfer Visa, again from Barclaycard, this time offering an introductory 0% interest-free period of 28 months.

"Customers can benefit from a reduced balance transfer fee of 2.49%, with the added benefit of 0% on purchases for the first 6 months."


Representative purchase APR (variable)
Card details



Tesco Bank
Clubcard Credit Card for BT MasterCard

18.9% APR
  • Introductory 0% on balance transfers for 28 months from date of issue
  • Introductory balance transfer fee of 2.90%
  • Introductory 0% on purchases for first 3 months
  • Earn Clubcard points on your purchases

Penny saysPenny says…
"Achieving a top three spot is this card from Tesco Bank, offering an impressive 0% balance transfer rate for the first 28 months as well as a 0% purchase rate for three months.

"Cardholders can also earn Clubcard points on their purchases, racking up 5 points per £4 spent at Tesco and 1 point for every £4 spent elsewhere."


Representative purchase APR (variable)
Card details

NatWest Platinum
BT Credit Card MasterCard
18.9% APR
  • Introductory 0% on balance transfers for the first 28 months
  • Introductory balance transfer fee of 2.99%
  • Introductory purchase rate of 0% for first 6 months
  • No annual fee

Penny saysPenny says…
"In fourth spot is NatWest's Platinum BT Credit Card MasterCard, again offering an introductory 0% on balance transfers for 28 months.

"The 0% purchase rate for 6 months is also highly competitive, with the slightly higher balance transfer fee of 2.99% meaning it just misses making the top three."

Representative purchase APR (variable)
Card details

Barclaycard Freedom
Rewards 27 Month BT Visa
18.9% APR
  • Introductory 0% on balance transfers for 27 months from date of issue
  • Introductory balance transfer fee of 2.49%
  • Introductory 0% purchase rate for first 6 months
  • Earn rewards on your future spending
  • Minimum age and income restrictions apply

Penny saysPenny says…
"Barclaycard has done it again with a third balance transfer credit card making the top five, this time its Freedom Rewards 27 Month Visa offering an impressive 0% on balance transfers for 27 months.

"Cardholders can also benefit from a low balance transfer fee and 0% on purchases for the first 6 months, while the opportunity to earn Freedom Rewards points (which can be redeemed at selected partners) adds to the incentives."


Information & Rates correct as at: 28/10/2013

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Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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