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Balance transfer credit cards

Compare balance transfer credit cards to find a 0% interest credit card deal to transfer your existing balance to. With the longest 0% interest periods on balance transfers now up to 33 months, you could pay no interest on your credit card debts for at least 12 months. Additional results may be available with an eligibility check.

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What are 0% balance transfer credit cards?

If you're paying a high interest rate on existing credit card debts, it may be cheaper to transfer all of your borrowing to a card where you don't pay any interest for a set period of time.

This gives you a chance to pay off your debt, saving you a significant sum of money. These types of credit cards are called balance transfer credit cards.

How do they work?

When you move to the new 0% balance transfer card, your credit card debt will be interest free for a set period of time - often up to two years. After that, it the interest rate (known as the APR) will revert to a higher rate.

During the 0% interest period you can pay off your credit card debt in regular instalments. By transferring over your old credit card, or store card balance to a new card you will have some financial breathing space.

There's often a charge for this - you may pay a fee based on a percentage of the value of the debt you have transferred across.

Comparing balance transfer cards

There are a few things to look for when comparing balance transfer credit cards, and consider the terms and conditions of the different cards available.

  • How long is the 0% balance transfer period?

  • What is the fee you will have to pay to transfer the balance across?

  • What is the APR after the introductory period?

Is it worth having a 0% balance transfer card?

A 0% balance transfer credit card can be a useful for:

  • Reducing your monthly outgoings

  • Manage all of your credit card borrowing

  • Transfer debt from existing credit cards with 0% introductory deal

You can pay off your debt over a longer period, without worrying about paying extra in interest repayments.

This can be a good way to save money on the cost of paying back your credit card debt, as you can pay down the balance without paying the interest charges.

It's important to have a plan to repay the transferred balance, so that you don't end up paying a high rate of interest when the 0% period ends.

Balance transfer example

Your balance transfer period can last for more than 18 months depending on the offer, which can be very attractive to help pay down the debt, without interest charges.

To make the most from the introductory offer, calculate how much you’ll need to pay back each month to complete your repayments within the 0% interest period.

You transfer £1,000 to a card with a 24 month 0% introductory offer.

The transfer fee is 3% costing you £30

In total, you owe £1,030

The total debt divided by 24 months is £42.92

To pay off the credit card in full during the 0% introductory period, each month you'd need to pay: £42.92

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What does a 0% balance transfer offer cover?

A credit card might offer a 0% balance transfer rate that lasts years. But it might only offer a few months of interest free spending.

Generally, it’s better to have your balance transfer credit card just for balance transfers. But it’s worth knowing what rates you’ll be paying for spending on it too, just in case you need to.

If you have a large debt to pay, try to avoid spending on the card after transferring a balance to it.

Or if you're looking for a card that offers a good rate on both, you might want to consider a 0% balance transfer and purchase credit card.

Check when the 0% offer ends

  • 0% balance transfer offers do not last forever

  • When the introductory offer ends, the interest will go back to a more expensive standard rate

  • When you transfer your credit card balance to a new card, always make a note of when the introductory 0% interest rate ends

  • You may wish to consider moving any outstanding balance to a new balance transfer card, that way you can pay it off without costly interest payments

Things to know about balance transfer credit cards

What is a credit card?

Read our guide to learn how a credit card differs from a loan, and how to responsibly use one.

Section 75 - What is credit card protection?

For many people using a credit card can offer great benefits. A key perk of owning a credit card is the protection you're given with Section 75.

How to pay off credit card debt

Here is our step-by-step guide to help you pay off credit card debt, rebuild your credit score and regain your financial health.

Debt help

Debt can often cause stress and anxiety, our debt help guides provide tips and resources, to get back on track with your finances.

Help is at hand

Check your eligibility for credit cards

  • 1Improve your chances of being accepted
  • 2It won't affect your credit score
  • 3It's quick, free and easy

Uswitch Limited is a credit broker, not a lender, for consumer credit.

Our services are provided at no cost to you. We may receive a commission from the companies we refer you to, but this does not affect what you will pay for the product you choose.