Content begins 

0% Balance Transfer Credit Cards

Compare 0% Credit Cards

Balance Transfer credit cards typically offer 0% on any balance transfers, whilst charging a handling fee. The free 0% balance transfer period varies from card to card. Find a balance transfer credit card deal that suits your needs from leading UK banks and financial providers and apply online.

£25 Cash Back

Get an amazing £25 Cash Back when you successfully apply for one of our featured credit cards.

Get more from your money.

FAQs | Claim Cash Back | Terms & Conditions

I would like to...

Expert Choice Credit Cards
Balance Transfers Purchases
Credit Card Rate Duration Fee Rate Duration Representative APR Apply
Barclaycard
0.0% 31 Months 2.99% 0.0% 6 Months 18.9%Variable
More Info£25 Cash Back
0% interest on balance transfers for 31 months from account opening (2.99% handling fee applies). A fee of 3.5% will be applied, then reduced to 2.99% by a refund (terms and conditions apply). 0% interest on purchases for 6 months from account opening. Plus an additional £20 fee refund on balance transfers over £2000 (terms and conditions apply)
Representative Example: If you borrow £1200 at a purchase rate of 18.9% p.a.(variable), you will pay 18.9% APR Representative (variable).

Barclaycard | Barclaycard Platinum With BT (31 Mths)

Show Details

Barclaycard
0.0% 30 Months 2.89% 0.0% 6 Months 18.9%Variable
More Info£25 Cash Back
0% interest on balance transfers for 30 months from account opening (2.89% handling fee applies). A fee of 3.5% will be applied, then reduced to 2.89% by a refund (terms and conditions apply). 0% interest on purchases for 6 months from account opening. Plus an additional £20 fee refund on balance transfers over £2000 (terms and conditions apply)
Representative Example: If you borrow £1200 at a purchase rate of 18.9% p.a.(variable), you will pay 18.9% APR Representative (variable).

Barclaycard | Barclaycard Platinum With BT (30 Mths)

Show Details

Halifax
0.0% 30 Months 3.0% 0.0% 6 Months 18.9%Variable
More Info£25 Cash Back
0% for up to the first 30 months on balances transferred in the first 90 days (3% fee). 0% for the first 6 months on purchases. Manage your card online using Online Banking and Mobile Banking. Most customers will be offered our best rate of 18.9% APR (variable) and 0% for the first 30 months on balances transferred in the first 90 days (3% fee applies). Other customers will receive 0% for the first 30 or 27 months with a rate of 21.9% APR (variable), or the first 24 months with a rate of 25.9% APR (variable) on balances transferred in the first 90 days (3% fee applies). All customers will get 0% for the first 6 months on purchases.
Representative Example: If you borrow £1200 at a purchase rate of 18.95% p.a.(variable), you will pay 18.9% APR Representative (variable).

Halifax | Balance Transfer Credit Card (30 Mths)

Show Details

Tesco Bank
0.0% 30 Months 2.9% 0.0% 3 Months 18.9%Variable
More Info£25 Cash Back
Earn even more Clubcard points. Collect 1 Clubcard point for every £4 you spend on your Clubcard Credit Card  (Must have available credit. 1 point awarded per £4 spent in each purchase transaction (£4 min)). Representative 18.9% APR (variable).
Representative Example: If you borrow £1200 at a purchase rate of 18.94% p.a.(variable), you will pay 18.9% APR Representative (variable).

Tesco Bank | Clubcard Credit Card (Balance Transfer)

Show Details

Santander
0.0% 29 Months 3.0% 0.0% 3 Months 18.9%Variable
 0% for 29 months on balance transfers. 3% balance transfer fee applies (minimum £5). 0% for 3 months on purchases.
Representative Example: If you borrow £1200 at a purchase rate of 18.9% p.a.(variable), you will pay 18.9% APR Representative (variable).

Santander | Long Term Balance Transfer Credit Card

Show Details

Bank of Scotland
0.0% 28 Months 2.45% 0.0% 6 Months 17.9%Variable
More Info£25 Cash Back
0% for up to the first 28 months on balance transfers (3% fee). Refunds part of the 3% balance transfer fee so overall a 2.45% fee is payable. 0% for the first 6 months on purchases. This deal could help you save money on balances transferred within the first 90 days of opening your account (3% fee applies). Most customers will be offered our best rate of 17.9% APR (variable) and 0% for the first 28 months on balances transferred in the first 90 days (3% fee applies). Other customers will receive 0% for the first 25 months with a rate of 21.9% APR (variable), or the first 22 months with a rate of 25.9% APR (variable) on balances transferred in the first 90 days (3% fee applies). All customers will get 0% for the first 6 months on purchases. Please be aware to keep promotional rates you must pay at least the minimum payment by the due date and stay within your credit limit.
Representative Example: If you borrow £1200 at a purchase rate of 17.95% p.a.(variable), you will pay 17.9% APR Representative (variable).

Bank of Scotland | Platinum Balance Transfer Card (28 Mths)

Show Details

Barclaycard
0.0% 28 Months 2.44% 0.0% 6 Months 18.9%Variable
More Info£25 Cash Back
0% interest on balance transfers for 28 months from account opening (2.44% handling fee applies). A fee of 3.5% will be applied, then reduced to 2.44% by a refund (terms and conditions apply). 0% interest on purchases for 6 months from account opening.
Representative Example: If you borrow £1200 at a purchase rate of 18.9% p.a.(variable), you will pay 18.9% APR Representative (variable).

Barclaycard | Platinum With Balance Transfer (28 Mths)

Show Details

Halifax
0.0% 28 Months 2.45% 0.0% 6 Months 18.9%Variable
More Info£25 Cash Back
Balance transfer fee refund - refunds part of a 3% fee so overall a 2.45% fee is payable. 0% for up to the first 28 months on balances transferred in the first 90 days (3% fee). 0% for the first 6 months on purchases. Most customers will be offered our best rate of 18.9% APR (variable) and 0% for the first 28 months on balances transferred in the first 90 days (3% fee applies). Other customers will receive 0% for the first 28 or 25 months with a rate of 21.9% APR (variable), or the first 22 months with a rate of 25.9% APR (variable) on balances transferred in the first 90 days (3% fee applies). All customers will get 0% for the first 6 months on purchases. The APR and length of the promotional offer are dependent on your personal circumstances.
Representative Example: If you borrow £1200 at a purchase rate of 18.95% p.a.(variable), you will pay 18.9% APR Representative (variable).

Halifax | Balance Transfer Credit Card

Show Details

Lloyds Bank
0.0% 28 Months 2.45% 0.0% 6 Months 18.9%Variable
More Info£25 Cash Back
0% interest for up to the first 28 months on balances transferred within the first 90 days (3% fee). Balance Transfer fee refund, 3% fee so overall a 2.45% fee is payable. 0% interest on purchases for the first 6 months after your account is opened. 
Representative Example: If you borrow £1200 at a purchase rate of 18.94% p.a.(variable), you will pay 18.9% APR Representative (variable).

Lloyds Bank | Platinum Balance Transfer Card (28 Mths)

Show Details

Nationwide Building Society
0.0% 26 Months 2.4% 0.0% 3 Months 17.9%Variable
Nationwide Credit Card - 0% on balance transfers for 26 months (2.4% balance transfer fee applies, minimum £5.00), plus 0% on purchases for 3 months. 17.9% APR representative variable.
Representative Example: If you borrow £1200 at a purchase rate of 17.9% p.a.(variable), you will pay 17.9% APR Representative (variable).

Nationwide Building Society | Credit Card (Balance Transfer)

Show Details

Bank of Scotland
0.0% 24 Months 1.5% 0.0% 3 Months 17.9%Variable
More Info£25 Cash Back
Balance transfer fee refund - refunds part of a 3% fee so overall a 1.5% fee is payable. 0% for the first 24 months on balances transferred in the first 90 days (3% fee). 0% for the first 3 months on purchases. Most customers will be offered our best rate of 17.9% APR (variable) and 0% for the first 24 months on balances transferred in the first 90 days (3% fee applies). Other customers will receive 0% for the first 21 months with a rate of 21.9% APR (variable), or the first 18 months with a rate of 25.9% APR (variable) on balances transferred in the first 90 days (3% fee applies). All customers will get 0% for the first 3 months on purchases.
Representative Example: If you borrow £1200 at a purchase rate of 17.95% p.a.(variable), you will pay 17.9% APR Representative (variable).

Bank of Scotland | Platinum Balance Transfer Card

Show Details

Lloyds Bank
0.0% 24 Months 1.5% 0.0% 3 Months 17.9%Variable
More Info£25 Cash Back
0% interest on balance transfers for 24 months from account opening. Effective 1.5% Balance Transfer Fee (initially 3% will be taken and then 50% of this refunded within 60 days to equal an effective 1.5% fee). 0% interest on purchases for 3 months from account opening.

Representative Example: If you borrow £1200 at a purchase rate of 17.95% p.a.(variable), you will pay 17.9% APR Representative (variable).

Lloyds Bank | Platinum Balance Transfer Card (24 Mths)

Show Details

Halifax
0.0% 24 Months 1.5% 0.0% 3 Months 18.9%Variable
More Info£25 Cash Back
0% for up to the first 24 months on balances transferred in the first 90 days (3% fee). Minimum £100 balance transfer. Most customers will get 0% for the first 24 months on balance transfers, at our best rate of 18.9% APR (variable). Others will get 0% for the first 21 or 18 months at a rate of 21.9% APR (variable), or the first 15 months at a rate of 25.9% APR (variable). Refunds part of the initial 3% balance transfer fee so overall a 1.50% fee is payable. You'll initially be charged a 3% fee for each balance transfer. We'll then refund 1.50% of each balance transferred to us within 90 days, so overall you will pay a fee of just 1.50%. 0% for the first 3 months on purchases. Your purchase interest rate will be the same as the balance transfer interest rate.
Representative Example: If you borrow £1200 at a purchase rate of 18.95% p.a.(variable), you will pay 18.9% APR Representative (variable).

Halifax | Balance Transfer Credit Card (24 Mths)

Show Details

Post Office Ltd
0.0% 18 Months 2.98% 0.0% 3 Months 17.8%Variable
More Info£25 Cash Back
Post Office® Credit Card. The credit card for everyday use home and abroad. 17.8% APR Representative (variable). The Post Office Credit Card offers you a range of benefits whether you use it at home or abroad. 17.8% APR Representative (variable).
Representative Example: If you borrow £1200 at a purchase rate of 17.8% p.a.(variable), you will pay 17.8% APR Representative (variable).

Post Office Ltd | Platinum Card

Show Details

Barclaycard
0.0% 18 Months 2.49% 0.0% 14 Months 18.9%Variable
More Info£25 Cash Back
0% interest for 14 months on purchases and 0% for 18 months on balance transfers. A fee of 2.9% will be applied, then reduced to 2.49% by a refund (terms and conditions apply).
Representative Example: If you borrow £1200 at a purchase rate of 18.9% p.a.(variable), you will pay 18.9% APR Representative (variable).

Barclaycard | Platinum Purchase

Show Details

Santander
0.0% 17 Months 0.9% 0.0% 3 Months 18.9%Variable
0% for 17 months on balance transfers. 0.9% balance transfer fee applies (minimum £5). 0% for 3 months on purchases.
Representative Example: If you borrow £1200 at a purchase rate of 18.9% p.a.(variable), you will pay 18.9% APR Representative (variable).

Santander | Low Balance Transfer Fee Credit Card

Show Details

Sainsburys Bank
0.0% 16 Months 3.0% 0.0% 16 Months 16.9%Variable
More Info£25 Cash Back

Sainsbury's Nectar Credit Card lets you collect even more Nectar points when you shop at Sainsbury's. Just remember to pay with your Sainsbury's Nectar Credit Card and swipe your Nectar card. Collect double Nectar points on your Sainsbury's shopping. Collect 2 Nectar points per £1 spent on Sainsbury's fuel. One Nectar point for every £5 spent on your card elsewhere. 0% balance transfers for the first 16 months from account opening (3% balance transfer fee applies). 0% on purchases for the first 16 months from account opening. No monthly or annual fee. No cash advance fee on Sainsbury's Travel Money purchases.

Representative Example: If you borrow £1200 at a purchase rate of 16.94% p.a.(variable), you will pay 16.9% APR Representative (variable).

Sainsburys Bank | Nectar Credit Card

Show Details

Barclaycard
0.0% 16 Months 1.5% 0.0% 6 Months 18.9%Variable
More Info£25 Cash Back
0% interest on balance transfers for 16 months from account opening (1.5% handling fee applies). A fee of 1.6% will be applied, then reduced to 1.5% by a refund (terms and conditions apply).
Representative Example: If you borrow £1200 at a purchase rate of 18.9% p.a.(variable), you will pay 18.9% APR Representative (variable).

Barclaycard | Platinum Low Balance Transfer Fee

Show Details

Halifax
0.0% 15 Months 0.8% 0.0% 15 Months 17.9%Variable
More Info£25 Cash Back
Balance transfer fee refund - refunds part of a 3% fee so overall a 0.8% fee is payable. 0% for up to 15 months on balance transfers (3% fee applies). A long introductory interest free period to help you manage your existing credit. 0% for up to 15 months on purchases. To help spread the cost of any new purchases. The majority of customers will be offered our best rate of 17.9% APR representative (variable) and 0% for 15 months on balance transfers and purchases. Other customers will receive a 0% introductory offer of 13 or 11 months. The APR and length of the promotional offer are dependent on your personal circumstances.
Representative Example: If you borrow £1200 at a purchase rate of 17.95% p.a.(variable), you will pay 17.9% APR Representative (variable).

Halifax | All in One Card Credit Card

Show Details

Bank of Scotland
0.0% 15 Months 0.7% 0.0% 6 Months 17.9%Variable
More Info£25 Cash Back
0% for the first 15 months on balance transfers (3% fee). Refunds part of the 3% balance transfer fee so overall a 0.70% fee is payable. 0% for the first 6 months on purchases. Most customers will be offered our best rate of 17.9% APR (variable). Other customers will receive rates of either 21.9% APR (variable) or 25.9% APR (variable). This offer is not available on the high street but applying online only takes a few minutes. Please be aware to keep promotional rates you must pay at least the minimum payment by the due date and stay within your credit limit. Balance transfers can be made from most credit and some store cards, excluding other Bank of Scotland products.
Representative Example: If you borrow £1200 at a purchase rate of 17.95% p.a.(variable), you will pay 17.9% APR Representative (variable).

Bank of Scotland | Platinum Balance Transfer Card (15 Mths)

Show Details

TSB
0.0% 15 Months 0.8% 0.0% 3 Months 17.9%Variable
More Info£25 Cash Back
0% interest for up to 15 months on balances transferred within the first 90 days (3% fee). Balance Transfer fee refund - refunds part of a 3% fee so overall a 0.8% fee is payable. 0% on purchases for the first 3 months. Representative 17.9% APR (variable). 
Representative Example: If you borrow £1200 at a purchase rate of 17.95% p.a.(variable), you will pay 17.9% APR Representative (variable).

TSB | Platinum Balance Transfer Card

Show Details

Bank of Scotland
0.0% 13 Months 1.0% 0.0% 13 Months 17.9%Variable
More Info£25 Cash Back
Are you looking for 0% on purchases as well as on your balance transfer? Then the Bank of Scotland Platinum Purchase Card could be right for you. 0% for the first 13 months on purchases. 0% for the first 13 months on balances transferred in the first 90 days (3% fee). Balance transfer fee refund - refunds part of a 3% fee so overall a 1% fee is payable. You'll get 0% for the first 13 months on balances transferred in the first 90 days (a fee of 3% applies for each balance transfer). You will also get 0% for the first 13 months on purchases. Your personal APR for purchases will be either 17.9% APR (variable), 21.9% APR (variable) or 23.9% APR (variable). The interest rate for balance transfers will be the same as for purchases.
Representative Example: If you borrow £1200 at a purchase rate of 17.95% p.a.(variable), you will pay 17.9% APR Representative (variable).

Bank of Scotland | Platinum Purchase Card

Show Details

Lloyds Bank
0.0% 13 Months 1.0% 0.0% 13 Months 17.9%Variable
More Info£25 Cash Back

0% interest for the first 13 months on balances transferred within the first 90 days (1% fee - 3% will be taken initially but an automatic refund will refund 2% of this fee within 60 days of the balance transfer completion). 0% interest for the first 13 months on purchases. Representative 17.9% APR (variable).

Representative Example: If you borrow £1200 at a purchase rate of 17.95% p.a.(variable), you will pay 17.9% APR Representative (variable).

Lloyds Bank | Platinum Purchase Card

Show Details

Avios
0.0% 13 Months 3.0% 0.0% 13 Months 22.7%Variable
More Info£25 Cash Back
A brand new Credit Card Account from Lloyds Bank has taken off – and it’s packed with travel rewards. The Avios Rewards Credit Card Account. No foreign transaction fees. Flight Upgrade Voucher when your spend reaches £7,000 in a year. 0% on balance transfers and purchases for 13 months (balances transferred within the first 90 days, 3% fee applies). Double Avios for 6 months with your American Express® Card.
Representative Example: If you borrow £1200 at a purchase rate of 17.95% p.a.(variable), with an £24 annual fee, you will pay 22.7% APR Representative (variable).

Avios | Lloyds Bank Avios Rewards Credit Card (MCard)

Show Details

Lloyds Bank
0.0% 13 Months 3.0% 0.0% 13 Months 22.7%Variable
More Info£25 Cash Back
Get a choice of rewards for your everyday spend. 0% interest for the first 13 months on purchases and on balances transferred within the first 90 days (3% fee applies). Collect 10 Choice points for every £1 of eligible spend on the Choice Rewards American Express®. Whether it’s cashback, shopping vouchers, magazines subscriptions or even travel rewards through Avios, you’ll get to choose the reward you want, when you want. Get there quicker – with double Choice points on eligible spend¹ for the first 6 months on your American Express Card.
Representative Example: If you borrow £1200 at a purchase rate of 17.95% p.a.(variable), with an £24 annual fee, you will pay 22.7% APR Representative (variable).

Lloyds Bank | Choice Rewards Credit Card (MCard)

Show Details

Sainsburys Bank
0.0% 12 Months 3.0% 0.0% 12 Months 16.9%Variable
More Info£25 Cash Back
0% on balance transfers for the first 12 months from account opening (3% balance transfer fee applies, refunded in Nectar points). 0% on purchases for the first 12 months from account opening. Collect double Nectar points on your Sainsbury's shopping. Collect 2 Nectar points per £1 spent on Sainsbury's fuel (plus 1 point per litre when you also swipe your Nectar card). One Nectar point for every £5 spent on your card elsewhere.
Representative Example: If you borrow £1200 at a purchase rate of 16.94% p.a.(variable), you will pay 16.9% APR Representative (variable).

Sainsburys Bank | Nectar Credit Card (Nectar Refund)

Show Details

AA
0.0% 12 Months 3.0% 0.0% 10 Months 16.9%Variable
More Info£25 Cash Back
Offers 0% on card purchases for 10 months and 0% on balance transfers for 12 months (3% fee). Plus earn reward points every time you spend and double points on fuel. Redeem your points on high street shopping vouchers, cash back or AA products. Example - spend £50 a week on fuel and £100 a week on other purchases a month and earn over £25 cash back in a year or over £50 worth of AA products such as breakdown cover. You must be 21 years old, employed, and earn over £20,000 per year with no recent credit defaults.
Representative Example: If you borrow £1200 at a purchase rate of 16.9% p.a.(variable), you will pay 16.9% APR Representative (variable).

AA | Rewards Credit Card

Show Details

Tesco Bank
0.0% 12 Months 0.65% 0.0% 12 Months 18.9%Variable
More Info£25 Cash Back
Earn even more Clubcard points. Collect 1 Clubcard point for every £4 you spend on your Clubcard Credit Card  (Must have available credit. 1 point awarded per £4 spent in each purchase transaction (£4 min)). Representative 18.9% APR (variable).
Representative Example: If you borrow £1200 at a purchase rate of 18.94% p.a.(variable), you will pay 18.9% APR Representative (variable).

Tesco Bank | Clubcard Credit Card with Low BT Fee

Show Details

Santander
0.0% 9 Months 3.0% 0.0% 18 Months 18.9%Variable
0% for 18 months on purchases. 0% for 9 months on balance transfers from date of account opening (3% fee applies, minimum £5). No annual fee .
Representative Example: If you borrow £1200 at a purchase rate of 18.9% p.a.(variable), you will pay 18.9% APR Representative (variable).

Santander | Purchase Credit Card

Show Details

Barclaycard
0.0% 9 Months 2.9% N/A N/A 18.9%Variable
More Info£25 Cash Back

An amazing 10,500 Freedom bonus points worth £30 when you spend £500 or more in the first three months of account opening (terms and conditions apply). Rewards range from the high street, online favourites, places to eat and drink, to top entertainment and days out. Earn points wherever you shop, with double Freedom points on your UK supermarket, petrol station and all Transport for London (TfL) spend, plus triple points at selected Freedom partners (terms and conditions apply). 0% interest on balance transfers for 9 months from account opening (2.9% handling fee applies).

Representative Example: If you borrow £1200 at a purchase rate of 18.9% p.a.(variable), you will pay 18.9% APR Representative (variable).

Barclaycard | Freedom Rewards

Show Details

Tesco Bank
0.0% 3 Months 2.9% 0.0% 18 Months 18.9%Variable
More Info£25 Cash Back
Earn even more Clubcard points. Collect 1 Clubcard point for every £4 you spend on your Clubcard Credit Card  (Must have available credit. 1 point awarded per £4 spent in each purchase transaction (£4 min)). Representative 16.9% APR (variable).
Representative Example: If you borrow £1200 at a purchase rate of 18.94% p.a.(variable), you will pay 18.9% APR Representative (variable).

Tesco Bank | Clubcard Credit Card (Purchase)

Show Details

Santander
0.0% 1 Months 5.0% 0.0% 18 Months 16.5%Variable

Get cashback on your everyday spending: 1% cashback at all major supermarkets, 2% cashback at all major departments stores, 3% cashback at all petrol stations and on National Rail and Transport for London travel (on combined spend of up to £300 a month). 0% for 18 months on purchases from account opening. 16.5% APR Representative (Variable). Annual fee and terms apply. If you already have, or if you open a new Santander 123 Current Account, Santander will refund the first year's £24 annual fee on your 123 Credit Card. Offer valid until 31/12/2014. Contactless payments on items below £20. 

Representative Example: If you borrow £1200 at a purchase rate of 12.7% p.a.(variable), with an £24 annual fee, you will pay 16.5% APR Representative (variable).

Santander | 123 Credit Card

Show Details

MoneyExpert Ltd is a Credit Intermediary and receives commission payments for all credit cards referrals made on our website. This does not apply to Tesco Bank, NatWest and Royal Bank of Scotland. The rates displayed in this table are updated on a daily basis.

Balance transfer credit cards

Balance transfers allow credit card holders to transfer the debt they owe on one card onto another. This is usually done because the new or receiving card offers a better interest rate. In the case of 0% balance transfer cards, they do not charge any interest at all on the transferred balance for a given period of time.

What are balance transfer credit cards?

Balance transfer credit cards are actually normal credit cards. They follow the same rules and can be used for all the same things – for accessing credit and making purchases in person, online, over the phone or via mail order. Most credit cards can be used to make balance transfers but when people refer to balance transfer credit cards they generally mean cards that have a lower than usual balance transfer rate. This may be 0% or it may be be 1%, 1.5% or some other rate that is lower than average. This low balance transfer rate is often seen as the main benefit of a particular balance transfer credit card.

How do they work?

Credit cards work by allowing you access to a pre-agreed line of credit. In essence you are borrowing money every time you make a payment using your card. There is a limit to how much money you can access and borrow with your card. This is known as your credit limit and can vary depending on a number of factors including the type of card and your own circumstances and credit history. Most credit cards have an interest-free period for purchases, which is typically one month. This means that, as long as you pay off your balance on or before the date specified in your monthly statement, you will not usually have to pay any interest or fees for using your credit card.

If you do not wish to or cannot pay the balance in full by the due date you will be charged interest on whatever money you owe. Even if you cannot pay the balance in full you should always pay the minimum amount due, otherwise you may face additional penalties and your credit rating may be affected.

If you do have an outstanding balance, you can use a balance transfer to effectively pay off your balance on an existing card with a different credit card. The money you owe is transferred to the new or receiving credit card account.

What are the benefits?

The benefit of making a balance transfer to a balance transfer credit card is that the rate of interest you pay will be lower. In the case of 0% balance transfer cards, you will not usually be charged any interest at all on the balance that you transfer for the length of the promotional period.

Most promotional or introductory rates only stay in effect for a given and agreed period of time. This could be 9 months, a year, 18 months or even longer. If the balance has not been paid off by the end of this time the interest charged on what remains will revert to the card's standard rate. Some balance transfer cards offer a balance transfer rate that applies for the life of the balance (i.e. until it is completely paid off) but these rates are rarely if ever 0%.

If you only transferred a balance of £100 you would be charged £10, because the minimum fee is higher than 3% of £100. Your new balance would be £110.

When you compare balance transfer credit cards you should balance any fee to be paid against the length of the 0% period or the promotional balance transfer rate. Depending on the amount to be transferred and how soon you can reasonably expect to pay off the balance, a card with a lower fee and a shorter promotional period or higher balance transfer rate may work out cheaper than a card with a higher fee and a longer promotional period or lower balance transfer rate. The opposite could also be true, depending on your circumstances.

How much can I transfer?

Like all credit cards, balance transfer cards will have a credit limit. You cannot transfer a balance that is greater than this amount and some card providers may also stipulate that you can only transfer a certain amount, such as 90% of the credit limit. You should also take any fees into account. If you are transferring to a card with a credit limit of £1,000 and there was a fee of 3% you couldn't transfer a full £1,000 as the 3% or £30 fee would take you above your credit limit.

Are there any potential problems?

As with any credit card, you should always read your Terms & Conditions. If you miss a payment for example, you may trigger a clause that invalidates your promotional balance transfer rate and causes the card to revert to the standard interest rate. It is usually worth setting up a Direct Debit to make at least your minimum payment each month so you never miss a payment by mistake.

It's also worth noting that where you have various balances with different interest rates on the same credit card account, the lowest is usually paid off first. If you transfer a balance to a 0% balance transfer card and subsequently make purchases with the card, the money spent on those purchases is likely to be charged at the card's standard rate. Any payments you make will be taken off the transferred or 0% balance first. Meanwhile, the other part of your balance will be racking up interest. Some cards offer 0% on both balance transfers and purchases but the 0% on purchases may last for a shorter period before reverting to a standard rate.

View our guide to credit cards

Credit Cards News

View full news section

© MoneyExpert.com 2014

MoneyExpert Limited Registered in England. Registered Number 04765843. Registered Office: MoneyExpert Limited, Craven House, Station Approach, Godalming, Surrey, GU7 1EX. Consumer Credit Licence Number 662105. Data Protection Licence Number Z8204138. MoneyExpert Limited is an appointed representative of MoneyExpert Insurance Services Limited which is authorised and regulated by The Financial Conduct Authority FRN 557120.

Terms & Conditions Privacy Policy Cookies Site Map Complaint Handling