Compare no fee balance transfer credit cards

No, not all credit cards charge a transfer fee. Some balance transfer credit cards offer 0% transfer fees, meaning you can move your existing credit card debt to a new card without paying any upfront charges. However, many balance transfer cards typically charge a fee, usually between 1% and 4% of the amount being transferred. These fees are usually applied to the total balance you move.

No. The act of transferring a balance to a new credit card doesn’t damage your credit score.

However, there are two things that might negatively affect your credit worthiness if you're not careful.

Firstly, applying for a new credit card is always recorded on your credit history. This means that if you have an application rejected, or there are multiple applications over a short period of time, other lenders might be nervous.

However, card finder and eligibility checker tools don’t show up on your credit score, so it makes sense to use one to ensure you only apply for cards you’ll qualify for.

Secondly, lenders look at something called your "total available credit" before making a decision. This is worked out by adding up all your credit card and overdraft limits.

A new card adds to this total, but unless you've already got a large number of cards with high credit limits - for example equal to your annual salary – it’s unlikely to be a problem.

Yes, but that doesn't mean you'll pay nothing to borrow.

First, there may be a fee attached to a balance transfer or money transfer credit card.

Secondly, if you don't clear your debt within the 0% period you'll be charged interest on any money remaining on the account at the end of it.

Your options for balance transfer credit cards will be limited if you have bad credit. Most credit cards transfer deals will only accept people with a good or excellent credit rating.

You might have a higher chance of being approved for a credit card for bad credit.

A "no transfer fee" balance transfer card allows you to move your existing credit card debt to a new card without paying the usual upfront transfer fees, which typically range from 1% to 4%. No-fee balance transfer cards often come with shorter 0% interest periods compared to cards that charge a transfer fee.