Compare balance transfer credit cards

Pay off your credit card debt faster with 0% interest for over 2 years on a balance transfer credit card.

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Best for no-fee balance transfers
M&S Bank Credit Card Purchase Plus Offer Mastercard logo
M&S Bank Credit Card Purchase Plus Offer Mastercard
Check eligibility
24.9% APR representative variable
4.1 ★★★★★
No annual fee
Earn points on purchases
1 year to reduce card debt
Best for no account fee
Santander Everyday Long Term Balance Transfer Credit Card logo
Santander Everyday Long Term Balance Transfer Credit Card
Check eligibility
23.9% APR representative variable
4.3 ★★★★★
No annual fee
3 months to spread the cost of purchases
Over 2 years to reduce existing card debt
Best for 0% balance transfer
Tesco Bank Balance Transfer Card logo
Finder Award
Tesco Bank Balance Transfer Card
24.9% APR representative variable
4.1 ★★★★★
No annual fee
Over 2 years to reduce card debt
Earn Clubcard points on spending

Slash the interest on your credit card debt with our top picks for balance transfer cards, potentially saving you thousands. Dive into our top picks and everything you need to know before taking the plunge. Catch the wave of savings and ride it to a financially fit new you. Here's to potentially saving £1000s and making a splash with your finances this summer!

Our top 10 balance transfer cards compared

Table: sorted by length of 0% balance transfer offer, promoted deals first
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1 - 10 of 48
Name Product Finder Score Finder score Balance transfers Purchases Annual/monthly fees Incentive Link Monthly repayment
HSBC Balance Transfer Credit Card
4.0
★★★★★
★★★★★
Expert analysis
0% for 27 months
(3.49% fee, min £5 fee)
0% for 3 months reverting to 24.9%
£0
Discounts and exclusive offers for dining experiences, leisure activities and shopping available through HSBC Home and Away.
When you spend £1,200 at a purchase rate of 24.9% (variable) p.a., your representative rate is 24.9% APR (variable). You might get different interest rates and promotional periods to those shown here, because these depend on your circumstances.
Check eligibility
£114.99
Santander Everyday Long Term Balance Transfer Credit Card
4.3
★★★★★
★★★★★
Expert analysis
0% for 26 months
(3% fee)
0% for 3 months reverting to 23.9%
£0
Every time you spend abroad in the local currency using your Santander debit or credit card between 18 June to 15 September 2024, you'll be entered into a prize draw to win 1 of 18 travel vouchers each worth £5,000 each. T&Cs apply.
Representative example: When you spend £1,200 at a purchase rate of 23.9% (variable) p.a., your representative rate is 23.9% APR (variable).
Check eligibility
£118.85
M&S Bank Credit Card Transfer Plus Offer Mastercard
3.9
★★★★★
★★★★★
Expert analysis
0% for 26 months
(3.49%, min £5 fee)
0% for 3 months reverting to 24.9%
£0
1 point per £1 spent with M&S and 1 point per £5 spent elsewhere. Enjoy 55 days interest free, preferential rates plus no cash advance fee when buying M&S travel money with the card.
Representative example: When you spend £1,200 at a purchase rate of 24.9% (variable) p.a., your representative rate is 24.9% APR (variable).
Check eligibility
£119.41
first direct Credit Card
3.8
★★★★★
★★★★★
Expert analysis
0% for 20 months
(2.99% fee)
24.9%
£0
Representative example: When you spend £1,200 at a purchase rate of 24.9% (variable) p.a., your representative rate is 24.9% APR (variable).
Check eligibility
£154.48
HSBC Purchase Plus Credit Card
3.8
★★★★★
★★★★★
Expert analysis
0% for 16 months
(3.49%, min £5 fee)
0% for 18 months reverting to 24.9%
£0
Discounts and exclusive offers for dining experiences, leisure activities and shopping available through HSBC Home and Away.
Representative example: When you spend £1,200 at a purchase rate of 24.9% (variable) p.a., your representative rate is 24.9% APR (variable). You might get different interest rates and promotional periods to those shown here, because these depend on your circumstances.
Check eligibility
£194.04
Santander All in One Credit Card
4.5
★★★★★
★★★★★
Expert analysis
0% for 15 months
(0% fee)
0% for 15 months reverting to 23.9%
£3 per month
0.5% after £1 of monthly spend. Maximum of £10 cashback paid per month. Cashback paid monthly into Card Account. Maximum spend for cashback purposes is limited to credit limit. Every time you spend abroad in the local currency using your Santander debit or credit card between 18 June to 15 September 2024, you'll be entered into a prize draw to win 1 of 18 travel vouchers each worth £5,000 each. T&Cs apply.
Representative example: When you spend £1,200 at a purchase rate of 23.9% (variable) p.a. with a fee of £3 per month, your representative rate is 29.8% APR (variable).
Check eligibility
£200
Santander Everyday No Balance Transfer Fee Credit Card
3.5
★★★★★
★★★★★
Expert analysis
0% for 12 months
(0% fee)
0% for 3 months reverting to 23.9%
£0
Every time you spend abroad in the local currency using your Santander debit or credit card between 18 June to 15 September 2024, you'll be entered into a prize draw to win 1 of 18 travel vouchers each worth £5,000 each. T&Cs apply.
Representative example: When you spend £1,200 at a purchase rate of 23.9% (variable) p.a., your representative rate is 23.9% APR (variable).
Check eligibility
£250
M&S Bank Credit Card Purchase Plus Offer Mastercard
4.1
★★★★★
★★★★★
Expert analysis
0% for 12 months
(0% fee)
0% for 20 months reverting to 24.9%
£0
1 point per £1 spent with M&S and 1 point per £5 spent elsewhere. Enjoy 55 days interest free, preferential rates plus no cash advance fee when buying M&S travel money with the card.
Representative example: When you spend £1,200 at a purchase rate of 24.9% (variable) p.a., your representative rate is 24.9% APR (variable).
Check eligibility
£250
Tesco Bank Balance Transfer Card
4.1
★★★★★
★★★★★
Expert analysis
0% for 29 months
(3.49% fee)
24.9%
£0
5 points per £4 spent (£4 minimum) in Tesco and 1 point per £8 spent (£8 minimum) outside Tesco. Must have available credit to earn points. Points are converted to Tesco vouchers or can be exchanged for Partner rewards to receive money off a variety of restaurants, entertainment or Avios points.
Representative example: When you spend £1,200 at a purchase rate of 24.9% (variable) p.a., your representative rate is 24.9% APR (variable).
£107.06
Virgin Money 28 Month Balance Transfer Credit Card Mastercard
4.0
★★★★★
★★★★★
Expert analysis
0% for 28 months
(3.25% fee)
0% for 3 months reverting to 24.9%
£0
Enjoy exclusive offers and rewards on the Virgin Red app.
Representative example: When you spend £1,200 at a purchase rate of 24.9% (variable) p.a., your representative rate is 24.9% APR (variable).
£110.62
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Approval for any credit card depends on your status. The representative APRs shown represent the interest rate offered to most successful applicants. Depending on your personal circumstances, the APR you're offered may be higher, or you may not be offered credit at all. Fees and rates are subject to change without notice. It's always wise to check the terms of any deal before you borrow. Most of the data in Finder's comparison tables is provided by Moneyfacts.

Best long 0% balance transfer deal for July 2024

To access the longest possible 0% deals, you’ll need good credit and you’ll probably have to pay a small transfer fee – this can be added onto the balance you’re transferring. The absolute longest 0% deal currently available is 29 months, but it’s important to factor in the transfer fee and any ongoing fees when you’re picking the right deal for you.

Barclaycard Platinum 28 Month Balance Transfer Visa

Barclaycard Platinum 28 Month Balance Transfer Visa

Finder score★★★★★

Customer score★★★★★

Read review

28 months

0% interest on balance transfers

24.9%

Representative APR

£0

Account fee

20 points

Max. intro bonus

With the longest 0% deal on the market right now, there’s no doubt why Barclaycard took the balance transfer crown this month. To enjoy this interest-free period, you’ll need to make your transfers within the first 60 days. Plus, you could receive . There’s no annual fee to worry about, so provided you clear your existing balance before the 0% period expires and you're willing to shell out a balance transfer fee of 3.45%, this could be an almost catch-free option.
  • Extra-long 0% period
  • No annual fee
  • Balance transfer fee of 3.45%
  • Shorter balance transfer periods offered if your credit score isn't up to Barclay's standards
Availability Available to new customers
Min. income 20000
Foreign usage charge (EU) 2.99%
Cash advance fee 2.99% (min. £2.99)
Representative example: When you spend £1,200 at a purchase rate of 24.9% (variable) p.a., your representative rate is 24.9% APR (variable).

If you don’t need quite so long at 0%, you should consider a low- or no-fee balance transfer deal.

Best no-fee balance transfer deals for Jul 2024

Although these offers won’t have the very longest 0% interest periods on the market, if the 0% periods that they do offer can give you long enough to clear your card debt, they’re likely to be the cheapest option.

NatWest Balance Transfer Credit Card

NatWest Balance Transfer Credit Card

Finder score★★★★★

Customer score★★★★★

Read review

13 months

0% interest on balance transfers

0%

Balance transfer fee

24.9%

Representative APR

£0

Account fee

Yes, you could easily find a longer 0% deal, but this is one of the longest deals with a no transfer fee or account fee (albeit with a fairly average revert interest rate charged after the 0% period is over). So if 13 months gives you long enough to clear your balance, this could be the card for you.
  • Long 0% period
  • No balance transfer fee
  • No annual/monthly fee
  • Longer balance transfer deals are available
Availability Available to new customers
Residency UK resident
Min. income 10000
Foreign usage charge (EU) 2.75%
Cash advance fee 3% (min. £0)
Representative example: When you spend £1,200 at a purchase rate of 24.9% (variable) p.a., your representative rate is 24.9% APR (variable).

An intro to balance transfers

Whether you’re looking to pay off your existing credit card debt or wanting to organise your debts into one place, with cards offering low or 0% interest for a specified period, a balance transfer card could help pay off your debt faster.

A balance transfer refers to the process of transferring your existing credit card debt to a new card issued by a different bank, in return for a lower interest rate during the introductory period. Most balance transfer credit cards have an introductory promotional rate which runs for a fixed number of months.

If used correctly, you could transfer your existing balance from a different bank and make use of a card with up to 12, 24, 30 months (or even longer!) 0% interest on your balance. This means that you could pay off your debt within this time period without any monthly interest being added on top, or pay off a considerable amount of debt before the monthly interest kicks in.

So, what’s the catch?

After your specified 0% balance transfer period ends the provider will begin to charge you monthly interest on your remaining balance, just like a usual credit card. There may also be a balance transfer fee to pay when you are moving existing debt to a balance transfer card. This fee, however, is usually low compared to the interest you may be paying on your current credit card balance. Even with this fee, a 0% interest rate usually means that you can clear your debt faster and more cheaply than you would if you remained with your current card.

Balance transfers illustrated

How long will it take to clear my balance?

Balance transfer calculator
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months

Complete the fields above to estimate your monthly repayment

How does it work?

Let’s assume that you already have existing card debt and you want to save on interest by moving it to another card issuer.

Once you’ve picked a balance transfer deal, you’ll usually be prompted to check your eligibility. Provided its good news, you can then go ahead and apply for the new card.

During the application process, you’ll be asked if you want to transfer a balance and prompted to provide details of how much it is, which bank it’s currently held with and the account number.

When you’ve received your shiny new card (which can take up to two weeks) and activated it, the card issuer will then request the transfer of all outstanding funds from your old bank. From this point, the transfer will typically take around 1-3 working days. If there’s a transfer fee involved then this can be added to your balance.

From then on it’s over to you. You can pay as much or as little as you like each month, subject to the new card’s minimum repayment requirement (typically 1% or 2% of your outstanding balance). Ideally, you should pay enough each month to ensure you’re debt-free before the introductory low-rate period expires.

What is a balance transfer fee?

Most – but not all – balance transfer cards (particularly those with the longest promotional periods) charge a balance transfer fee. This is a one-time fee that’s calculated as a percentage of the debt you wish to transfer to the new card. Typically the balance transfer fee is between 1.5% and 3.5%. A minimum is usually also specified, so a card issuer might describe its balance transfer fee as “3% (minimum £5). So if you had a £2,000 debt to transfer, the transfer fee would cost you £60. If you had just a £150 debt to transfer, the fee would cost you £5.The fee is usually added to the balance and so also benefits from the 0% promotional period.

If you can afford to pay off your balance in a shorter amount of time, it’s worth looking for a balance transfer card that has no balance transfer fee, but might offer a shorter 0% deal.”

Rachel Wait, personal finance expert

Expert video: Choosing the right balance transfer card

Use Finder's eligibility checker (no effect on your credit score)

How much money can I save with a balance transfer?

Exactly how much you’ll save will depend on the size of your debt, the length of the 0% balance transfer offer and your repayments, but you could save hundreds or thousands of pounds in interest while you clear your debt. Here’s an example:

How The Balance Transfer Process Works

Balance transfer illustration

Let’s say you have £3,000 debt on a card that’s currently charging 20% interest annually, but you’ve been offered a new card with 0% on balance transfers for 18 months, a 3% transfer fee and no annual fee.

Clearing your debt over 18 months would be around £407 cheaper using the new 0% card than it would on the old card. What’s more, you’d be debt-free three months sooner than if you’d made the same monthly repayments to your old card. All in all, a worthwhile exercise!

Remember that this isn’t based on simply paying the minimum monthly repayments, but on overpaying as much as is necessary to completely clear the debt before the revert rate kicks in. In this example you’d want to pay around £172 each month to clear the debt in time. To get that figure we divided £3,090 (the balance being transferred with the transfer fee on top) by 18 (the number of months in the introductory rate period).

The dos and don’ts of balance transfers

Used intelligently, a 0% balance transfer card will reduce your interest payments and get you out of credit card debt faster. Used the wrong way, your debts can become larger and last, well, indefinitely. Ensure you don’t get trapped in problem balance transfer debt with our dos and don’ts.

How to do balance transfers right

  • DO: Compare the best deals and use eligibility checkers.
    Your goals should be to get debt-free as cheaply as possible and in as little time as possible. To do this, you’ll want to pin down the best deal available to you.
  • DO: Look at deals with no balance transfer fee first.
    Many people don’t take the time to understand balance transfers and the potential costs involved and end up paying a balance transfer fee that they hadn’t been banking on. If you’re reading this, you’re already ahead of the curve.
  • Do: Consider all applicable fees
    While you won’t be charged interest with a 0% balance transfer, you may have to pay annual fees and a balance transfer fee. Make sure you consider these when choosing a balance transfer deal, but bear in mind it can be a mistake to dismiss cards purely based on fees.
  • DO: Request the transfer at the earliest possible opportunity.
    Most balance transfer deals only apply to balances transferred within the first 60 or 90 days of account opening, so it’s better not to hang around.
  • DO: Keep making payments on your old card until you’re sure the transfer has gone through.
    Balance transfers are still far from instant, frustratingly. In fact, they can take a couple of weeks. Don’t risk damaging your credit record by missing a repayment on your old card.
  • DO: Set up a direct debit for repayments.
    Ensure you’ll never miss a repayment and protect your credit score by setting up a direct debit for repayments. You can do this during the application when you accept the offer that the card issuer has made. You can set up a direct debit to pay the minimum monthly repayment, a fixed amount or a fixed percentage of the outstanding balance. Choosing a fixed amount of direct debit is likely to be the most straightforward option – simply divide your balance (plus the transfer fee, if applicable) by the number of months in the 0% deal to see what you need to pay each month to be debt free at the end of the promotional period.

Mistakes to avoid with balance transfers

  • DON’T: Forget you still have to make payments.
    Despite the promotional period with interest at 0%, you still have a debt, and you still have to make at least the minimum payment each month. You can’t simply transfer a balance and then stop making payments. The minimum repayment is usually stated in terms like “2.5% of your outstanding balance or £5 (whichever is greater)”.
  • DON’T: Forget to check the standard interest rate.
    Once your balance transfer promotion finishes, you’ll be paying the standard rate on any remaining balance. Choose a card with a standard rate that’s lower than your current credit card rate if possible or make sure you repay the entire debt before the standard rate applies.
  • DON’T: Use your card for further spending.
    Adding new debt will slow down your ability to repay your card. Don’t buy anything new on your credit card that you can’t immediately pay off in full. Also, banks are required to allocate repayments to whichever debt is accruing the highest interest on your account. So, if your balance accrues 0% interest and your purchase collects the standard interest rate, your repayments will go to the purchases rather than your balance transfer. It’s usually better to focus on clearing the debt you have, rather than adding to it. However, there are cards which offer 0% deals on both existing debt and additional purchases. Watch out for rewards programmes that incentivise additional spending – you could end up paying much more in interest than you earn in points.
  • DON’T: Only pay the minimum repayment each month.
    If you’re only paying the minimum repayment each month, you won’t be able to repay the entire balance by the time the 0% balance transfer offer ends. Then your debt will start to collect interest and it will grow again. Instead, you should calculate exactly how much you need to pay each month to repay the entire balance by the time the interest-free period ends. You can do this by dividing the size of your debt by the number of months in the balance transfer offer. This will give you a goal repayment to meet every statement period to clear the debt before the 0% promotion ends.
  • DON’T: Keep your old card open
    It’s tempting to hang on to your old card “for use in emergencies”. Realistically, if you’ve run up debt on it before, you’re likely to do so again. Cancel the card and concentrate on paying off your balance. Remember to transfer any regular payments, and ask your old bank for your final balance so you don’t have any leftover debt. Even after you’ve made a balance transfer you may still be liable for accrued interest from your final statement, or for missed payment charges. Make sure these are cleared – if you don’t take action they’ll continue to build up interest and penalties.

How to do a balance transfer in five steps

Follow these five steps to successfully apply for a balance transfer credit card and improve your chances of approval:

  1. Compare balance transfer offers to get a sense of what’s out there. Use our comparison tables to easily compare a range of cards and see how much you could save.
  2. Use an eligibility checker to see which cards you could get approved for. Soft-searching eligibility checkers (like Finder's!) can show you your likelihood of approval for a range of cards from popular providers. You can also start to get an idea of the credit limit you might be offered. Some banks don’t show this until you actually apply, but luckily, some do. The amount you can transfer to your new account will vary, but is usually capped at between 90% and 95% of your credit limit. So, if you can only transfer 90% of your £1,000 credit limit, you’ll only be able to transfer up to £900. Remember, you won’t know for sure what your credit limit will be until you’ve made your application, and this will depend on a number of factors, such as your overall credit rating, income and employment status. You can contact the bank in question to get an estimate before you apply. You’ll also need to make sure that you’ve selected a new card that accepts transfers from your current bank and card.
  3. Submit your application. If you’ve found a balance transfer credit card that looks right for you, you can click on the “Go to site” button to be directed to a secure online application.
  4. Wait for your application to be approved. Most banks can process your request and offer approval within 60 seconds of applying, but some can take a couple of days. If you haven’t heard from the bank after this time, you may wish to contact them to find out if there’s an issue. During the application process, you’ll be asked if you want to transfer a balance.
  5. Confirm the transfer has taken place then close your old account. Once your new card is set up, contact your old bank and make sure the previous account is closed to avoid any further fees or interest payments.
  6. Chip away at that card debt! Now it’s time to start repaying your debt, with the goal of clearing it all before the end of the 0% period.

Do I have to contact my old bank and new bank to make the switch?

Your new card issuer manages this process after both your card and the balance transfer are approved. You just need to provide details of your existing card when you apply. But if you want to close your old card, you’ll need to do that yourself by contacting your bank. If you don’t close your old account, you could be stuck with annual fees and any other maintenance costs that come with your existing account.

How does transferring a balance from one credit card to another impact my credit score?

When you transfer a balance from one credit card to another, it’ll save you money on the interest you’re paying and could help you pay off your debt faster, which could potentially boost your credit score. However, when opening any new credit account, it could negatively affect your credit score in the short term.

So, before you decide to go for a balance transfer, it’s important to weigh the potential long term benefits against the short term effects on your credit score. Consider how much money you’ll save in interest and how quickly you can pay off your debt compared and ultimately, it’s about finding the right balance for your financial situation and goals.

Your questions about balance transfers answered

Applying for balance transfers

Promoted
Santander Everyday Long Term Balance Transfer Credit Card
Santander Everyday Long Term Balance Transfer Credit Card
  • 0% for 26 months reverting to 23.9% (3% (min. £5) balance transfer fee applies)
  • 0% for 3 months reverting to 23.9%
  • No monthly account fee
Representative example: When you spend £1,200 at a purchase rate of 23.9% (variable) p.a., your representative rate is 23.9% APR (variable).

Using balance transfers

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.
Rachel Wait's headshot
To make sure you get accurate and helpful information, this guide has been reviewed by Rachel Wait, a member of Finder's Editorial Review Board.
Chris Lilly's headshot
Written by

Head of publishing

Chris Lilly is Head of publishing at finder.com. He's a specialist in personal finance, from day-to-day banking to investing to borrowing, and is passionate about helping UK consumers make informed decisions about their money. In his spare time Chris likes forcing his kids to exercise more. See full bio

Chris's expertise
Chris has written 612 Finder guides across topics including:
  • Loans & credit cards
  • Building credit
  • Financial health

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