Balance Transfer Credit Cards - 0% Up to 29 months | moneyfacts.co.uk
credit card icon

Balance Transfer Credit Cards

How 0% balance transfer credit cards work

Although you can transfer a balance to most credit cards, those that offer an introductory 0% interest period can save you the most money. These cards do still tend to charge a balance transfer fee when you move debt across, but they don't charge interest on the transferred balance for a set introductory period.

Advertisement

Balance Transfer Credit Cards

Balance Transfer Credit Cards

We are searching our databases for your products...

  • Virgin Money 28 Month Balance Transfer Credit Card Mastercard
    Total Cost of Borrowing
    £5,195 including fees and interest
    Balance Transfer Rate
    0.00%
    Balance Transfer Period
    0.0% for 28 months
    Transfer Fee
    2.70%
    APR
    21.9%
    Time to Payback
    35 months
    Go To Provider's Site
    Representative Example: Based on a credit limit of £1200.00 charged at 21.9% variable per annum for purchases. Representative 21.9% APR variable.
  • Virgin Money 24 Month Balance Transfer Credit Card Mastercard
    Total Cost of Borrowing
    £5,209 including fees and interest
    Balance Transfer Rate
    0.00%
    Balance Transfer Period
    0.0% for 24 months
    Transfer Fee
    1.25%
    APR
    21.9%
    Time to Payback
    35 months
    Go To Provider's Site
    Representative Example: Based on a credit limit of £1200.00 charged at 21.9% variable per annum for purchases. Representative 21.9% APR variable.
  • NatWest Balance Transfer Credit Card Mastercard
    Total Cost of Borrowing
    £5,340 including fees and interest
    Balance Transfer Rate
    0.00%
    Balance Transfer Period
    0.0% for 18 months
    Transfer Fee
    0.00%
    APR
    19.9%
    Time to Payback
    36 months
    Go To Provider's Site
    Representative Example: Based on a credit limit of £1200.00 charged at 19.9% variable per annum for purchases. Representative 19.9% APR variable.
  • Royal Bank of Scotland Balance Transfer Credit Card Mastercard
    Total Cost of Borrowing
    £5,340 including fees and interest
    Balance Transfer Rate
    0.00%
    Balance Transfer Period
    0.0% for 18 months
    Transfer Fee
    0.00%
    APR
    19.9%
    Time to Payback
    36 months
    Go To Provider's Site
    Representative Example: Based on a credit limit of £1200.00 charged at 19.9% variable per annum for purchases. Representative 19.9% APR variable.
  • Virgin Money 20 Month All Round Credit Card Mastercard
    Total Cost of Borrowing
    £5,470 including fees and interest
    Balance Transfer Rate
    0.00%
    Balance Transfer Period
    0.0% for 20 months
    Transfer Fee
    2.90%
    APR
    21.9%
    Time to Payback
    37 months
    Go To Provider's Site
    Representative Example: Based on a credit limit of £1200.00 charged at 21.9% variable per annum for purchases. Representative 21.9% APR variable.
  • Barclaycard Platinum 18 Month 0% Purchase and Balance Transfer Visa
    Total Cost of Borrowing
    £5,576 including fees and interest
    Balance Transfer Rate
    0.00%
    Balance Transfer Period
    0.0% for 18 months
    Transfer Fee
    2.90%
    APR
    21.9%
    Time to Payback
    38 months
    Go To Provider's Site
    Representative Example: Based on a credit limit of £1200.00 charged at 21.9% variable per annum for purchases. Representative 21.9% APR variable.
  • MBNA Limited Low Fee 0% Balance Transfer Mastercard
    Total Cost of Borrowing
    £5,160 including fees and interest
    Balance Transfer Rate
    0.00%
    Balance Transfer Period
    0.0% for 25 months
    Transfer Fee
    1.00%
    APR
    20.9%
    Time to Payback
    35 months
    Representative Example: Based on a credit limit of £1200.00 charged at 20.93% variable per annum for purchases. Representative 20.9% APR variable.
  • first direct Credit Card Visa
    Total Cost of Borrowing
    £5,182 including fees and interest
    Balance Transfer Rate
    0.00%
    Balance Transfer Period
    0.0% for 27 months
    Transfer Fee
    2.29% (minimum £5.00)
    APR
    18.9%
    Time to Payback
    35 months
    Representative Example: Based on a credit limit of £1200.00 charged at 18.9% variable per annum for purchases. Representative 18.9% APR variable.
  • Sainsbury's Bank Balance Transfer Credit Card Mastercard
    Total Cost of Borrowing
    £5,195 including fees and interest
    Balance Transfer Rate
    0.00%
    Balance Transfer Period
    0.0% for 29 months
    Transfer Fee
    3.00% (minimum £3.00)
    APR
    21.9%
    Time to Payback
    35 months
    Representative Example: Based on a credit limit of £1200.00 charged at 21.95% variable per annum for purchases. Representative 21.9% APR variable.
  • MBNA Limited Long 0% Balance Transfer Mastercard
    Total Cost of Borrowing
    £5,198 including fees and interest
    Balance Transfer Rate
    0.00%
    Balance Transfer Period
    0.0% for 28 months
    Transfer Fee
    2.79%
    APR
    20.9%
    Time to Payback
    35 months
    Representative Example: Based on a credit limit of £1200.00 charged at 20.93% variable per annum for purchases. Representative 20.9% APR variable.
Note

Moneyfacts.co.uk Limited is an independent credit broker not a lender. We will receive a payment from credit providers where customers link to them from Moneyfacts.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.

Quick Links

Quick links are where we have an arrangement with a provider so you can move directly from our site to theirs to view more information and apply for a product. We also use quick links where we have an arrangement with a preferred broker to move you directly to their site. Depending on the arrangement we may receive a modest commission either when you press a 'Go to Provider' or 'Speak to a Broker' button, when you call an advertised number or when you complete an application.

A guide to 0% balance transfer credit cards

Michelle Monck

Michelle Monck

Consumer Finance Expert

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 2% - 3%.
  • 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.

A 0% balance transfer credit card can save you a quite a bit in interest if you currently have balances on expensive credit cards and store cards.

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 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 2% to 3% 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 19% 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.

Moneyfacts tip

Moneyfacts tip Michelle Monck

Are you credit invisible or have you hit a road bump with your credit? Credit builder cards can help you to rebuild your profile, all you need to do is keep making repayments on time.

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 Direct Debit to avoid missing it.

What next?

Compare the best credit cards

Get our weekly newsletter

Weekend Moneyfacts is available free by email to all Moneyfacts.co.uk users.

Please send me Weekend Moneyfacts, Savers Friend and selected third-party offers.

How Moneyfacts works

  • drawing of money scales

    BALANCED. Moneyfacts.co.uk is entirely independent and authorised by the Financial Conduct Authority for mortgage, credit and insurance products.

  • blue outline of free tag

    FREE. There is no cost to you. Our service is entirely free and you don't need to share any personal data to access our comparison tables.

  • drawing of pound sign and arrow

    TRANSPARENT. We only receive payment from product providers and intermediaries for quick/direct links and adverts through to their websites.

  • blue outline of binoculars

    COMPREHENSIVE. We research the whole market and scour the small print so you can find the best products for your needs.

Credit card guides

Related credit card guides
guides icon
How to improve your credit score

Our guide sets out 11 steps to boosting your credit score and tell you what to do and what to avoid to increase your credit scrore.

Our guide sets out 11 steps to boosting your credit score and tell you what to do and what to avoid to increase your credit scrore.

Read More
guides icon
How to reclaim unfair credit card charges

If you have accumulated substantial extra debt because of unfair credit card charges, then you may be able to claim some of this back from your card provider of the time.

If you have accumulated substantial extra debt because of unfair credit card charges, then you may be able to claim some of this back from your card provider of the time.

Read More
guides icon
How to get help with persistent debt and increased credit card payments

Credit card borrowers in persistent debt could start to have their cards suspended after October 1 2020. Find out the rules now and what to do if you are in persistent debt on your credit card.

Credit card borrowers in persistent debt could start to have their cards suspended after October 1 2020. Find out the rules now and what to do if you are in per

Read More
guides icon
How does credit card interest work?

Figuring out how credit card interest works can be a complex and difficult task - This Moneyfacts guide gives you an idea of the basics

Figuring out how credit card interest works can be a complex and difficult task - This Moneyfacts guide gives you an idea of the basics

Read More

Ask us anything?

Cookies

Moneyfacts.co.uk will, like most other websites, place cookies onto your device. This includes tracking cookies.

I accept. Read our Cookie Policy