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Best balance transfer cards

What makes a balance transfer card 'the best'? The answer is which card is best for your needs. We compare some of the market leaders so you can decide whether you want the longest 0% period or no transfer fee.

Balance transfer cards can help you avoid interest on your existing card debts, our short video below explains how they work:

Read the full article to find the best balance transfer card for your needs or, if you know what you’re after, choose a market leader from the following categories:

Longest 0% balance transfer cards

Choosing a card with the longest 0% period is a good move if you don’t think you could pay off your debt within three and bit years.

Halifax

Halifax take the lead with a 43 month interest free period and a 3.28% transfer fee.

It’s worth checking if that extra few months of no interest is worth an upfront fee that’s a bit higher, considering there are fees as low as 1% available for a 40 month 0% balance transfer card.

  • Cost of 3.28% fee for a £1,200 balance transfer: £39.36
  • No transfers from: Halifax, Lloyds Bank or Bank of Scotland credit cards

MBNA

MBNA are in a close second with 43 month interest free period and a 3.29% transfer fee.

Again think about whether an extra month or so of no interest is worth a hefty upfront fee.

  • Cost of 3.29% fee for a £1,200 balance transfer: £39.48
  • No transfers from: MBNA credit cards

No fee balance transfer cards

Picking a balance transfer card that has no fee seems like a no-brainer, but be careful.

Often the trade off for picking no-fee balance transfer card is the 0% interest period will be shorter, but if you don’t need as long to pay off your debt they’re a great option.

Santander

Santander’s All-in-One card is offering an impressive 41 months 0% interest on balance transfers with no transfer fee.

The card also offers other useful features such as six months 0% interest on purchases, no overseas transaction fees and 0.5% cashback on purchases (with no upper limit).

But it’s worth noting that this card has a monthly fee of £3, so as it costs £36 a year to enjoy the benefits, make sure you’ll use this card or it could end up costing you.

  • No transfers from: Santander credit cards

Halifax

Halifax’s no-fee balance transfer card gives you just over two years of interest free borrowing with no upfront fee.

  • No transfers from: Halifax, Lloyds Bank or Bank of Scotland credit cards

‘Best of both world’ balance transfer cards

Typically you can enjoy an 0% interest introductory offer on either purchases or balance transfers, but a few cards offer you both, but in return for this flexibility you miss out on 0% transfer fees or the longest 0% periods.

Santander

Santander offer a leading 0% matched offer of 27 months for both balance transfers and purchases, their offer comes with a 2.75% transfer fee.

  • Cost of 2.75% fee for £1,200 balance transfer: £33
  • No transfers from: Santander credit cards

Barclaycard

For those willing to have a slightly shorter 0% interest period of 25 months, Barclaycard offer a card with a considerably lower transfer fee of 1.49%.

  • Cost of 1.49% fee for £1,200 balance transfer: £17.88
  • No transfers from: Barclaycard credit cards

Balance transfer cards for bad credit

It can be difficult to transfer credit card balances if you have a less than perfect credit score, however some card providers will consider your application, even if you have a limited credit history.

Barclaycard

This card from Barclaycard is intended for people with a limited, but good, credit history. They offer 0% on balance transfers for 18 months in exchange for a 2.99% fee.

As with their longer 42 month card above, Barclaycard are offering £20 cashback if you transfer a balance of £500 or more, provided you apply for a card before 6 February 2017.

  • Cost of 2.99% fee for £1,200 balance transfer: £35.88
  • No transfers from: Barclaycard credit cards

Compare balance transfer credit cards

Find a balance transfer credit card and stop paying expensive interest payments on your balance.

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