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0% balance transfer & spending

0% Balance Transfer & Spending Cards

Get up to 20 months 0% on both with one card

Steve Brigden
Steve Brigden
Updated 7 May 2021

Most credit cards are good for new spending OR cutting the cost of existing debt. But some offer cheap intro rates on both. Lenders have tightened acceptance criteria in light of financial concerns from coronavirus, but our Balance Transfer & Spending Eligibility Calculator will show the cards you have the best odds of getting before you apply.

Top 0% all-rounder cards

Who's this guide for? Anyone with existing card debt, who wants to transfer a balance and spend at 0% on the same card.

Not what you want? Other related best-buy guides... 
0% money transfer cards | 0% spending credit cards | Balance transfer cards | Debt help | Credit cards explained

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What is a 0% all-rounder credit card?

Most 0% credit cards are good for new spending OR cutting the cost of existing debt, but an all-rounder card offers 0% intro rates for a number of months on both.

You can usually get a longer 0% period with a dedicated balance transfer card, though if you have a need to borrow further (eg, a planned, affordable, one-off purchase, such as replacing a broken fridge) then an all-rounder card offers one fewer application hitting your credit file, protecting your creditworthiness.

Watch out for cards with two different 0% lengths

Certain cards have, for example, 20 months 0% on spending and 16 months 0% on transfers. In this case, after 16 months you'd start paying interest on any amount left that you'd transferred. It's therefore best to clear the card by the shortest 0% period, so you don't get caught out. 

However, if you can't, any repayments you make has to go towards paying off the most expensive debt first, so this will at least clear first.

The five golden rules

Before applying for a 0% balance transfer & spending card, ensure you read the five golden rules.

  • 1. Repay AT LEAST the set monthly minimum (preferably more) or you may lose the cheap rate

    Set up a direct debit for at least the minimum repayment as soon as you're accepted. Even though it's at 0%, or a low rate, you still need to make repayments. If you miss one, you'll usually lose your cheap deal – the rate will jump to the APR and you'll get a £12ish charge.

    Your aim should be to pay more than the minimum – unless you've pricey debts elsewhere, in which case focus max repayments on them. Minimum payments are designed to make debts last as long as possible, which you should try to avoid – see tips to beat this in Danger: Minimum Repayments.

  • 2. Ensure your borrowing stays free. Clear debt or shift again before the 0% or cheap rate ends, or costs rocket

    These cards are designed to make lenders money when you fail to pay them off within the 0% period. At that point, the interest rate jumps massively, to a standard 20%ish APR.

    Your aim should always be to clear the amount you transferred during the 0% period, minimising interest. If that's not possible, your next best bet is to shift again before the intro deal ends – or even back to the original card you shifted the debt from, if that's cheaper than the go-to rate on the 0% balance transfer & spending card.

  • 3. Don't withdraw cash – it's usually at an expensive rate

    While balance transfers and purchases on these cards are interest-free for a number of months, cash withdrawals are not, and you usually pay interest from the date of making the cash withdrawal until it's paid off.

    This means you'll most probably see an interest charge on the first statement after the cash withdrawal, which is the interest charged from the date you made the cash withdrawal until the date the statement was issued.

    But you may also see interest charged on the following statement. There'll be a delay between your statement being drawn up, and you paying it. It may be a couple of days, it may be a couple of weeks. But you'll be charged interest on the cash withdrawal until you pay it off.

  • 4. To get the 0% and fee, you usually have to do the balance transfer within the first 1-3 months

    For most cards, the 0% period is only reserved for balance transfers that are made within the first 60 or 90 days – though always check your card for its time limit, as it does vary. After this has passed, any transfers would incur expensive interest at the card's normal rate, unless it's paid off in full.

    This can sometimes apply to the one-off transfer fee too, so it's likely you'd incur a higher fee on later transfers, in addition to interest.

    There are some notable exceptions to this though, with certain cards requiring the balance transfer to be requested at the point of applying and other cards allowing transfers at any point during the 0% period. Though as the 0% period usually starts on the day the account is opened, you'd have less interest-free time if you waited.

  • 5. You can't balance-transfer between two cards from the same bank or often the same banking group

    For balance transfers, one rule is pretty clear – you can't transfer a balance from a card issued by the same bank (ie, from one Barclaycard to another).

    However for some cards it's a bit more complicated, as certain providers extend this to prevent transfers between cards from the same banking group:

    Banking group Credit cards you can't transfer a balance between
    Capital One Capital One, Littlewoods, Luma, Ocean, Post Office (cards issued after November 2019), Thinkmoney and Very
    HSBC First Direct, HSBC, John Lewis Finance and M&S Bank
    NatWest NatWest, Royal Bank of Scotland (RBS) and Ulster Bank
    NewDay Amazon, Argos, Aqua, Burton, Debenhams, Dorothy Perkins, Evans, Fluid, House of Fraser, Laura Ashley, Marbles, Miss Selfridge, Opus, Outfit, Topman, Topshop and Wallis. You're also unable to transfer a balance from a store card or American Express
    Santander Cahoot and Santander
    Virgin Money B, Clydesdale Bank, Virgin Atlantic, Virgin Money and Yorkshire Bank

 Credit Card Eligibility Calculator

See which credit cards you've the best chance of getting, in your own personal best-buy table.

Usually, applying is the only way to know if you'll be accepted for a credit card. Yet that marks your credit file, affecting your ability to get future credit. To help, our tool uses a 'soft search' to find your chances of acceptance before applying.

Check your chance of acceptance

Top 0% 'all-rounder' cards

You'll pay a one-off fee for transferring a balance, so it's best to go for the card with the lowest fee in the time you're sure you can repay it. If unsure, play safe and go long. 

Important. These include 'up to' cards, so poorer credit scorers may get a shorter deal than advertised – unless you're showing as pre-approved in our eligibility calculator. This is the best route as it shows which cards you're most likely to be accepted for.

Top 0% balance transfer & spending cards for new cardholders

LENDER 0% LENGTHS + FEE (i)  APPLY


Santander

 The clear winner if you're transferring over £2,690, plus 0.5% cashback on spending. Just be mindful of the different 0% lengths. For transfers less than this, the monthly fee makes it an expensive option, unless you need 26mths to clear the debt. After the 0%, it's 23.7% rep APR, though ditch it then to avoid the fee. Full card spec.

- 20mths 0% (spending)
- 26mths 0% (transfers)

- £3/mth fee

 Check eligibility
Apply*



New. Sainsbury's Bank

Nectar members only (6mths+)

 A longer spending period, plus bonus Nectar points worth up to £37.50 – though it's 'up to' 21mths. So some poorer credit scorers may get 13mths at 0%. It gives a bonus 750 Nectar points for each £35+ spend at Sainsbury's (excl fuel) in the first two months (max 7,500 points, worth £37.50), plus 2 points per £1 spent at Sainsbury's and 1 point per £5 spent elsewhere. After the 0%, it's 20.9% rep APR. Full card spec

- Up to 21mths 0%

- 3% fee (min £3)

 Apply 
(coming soon to our eligibility calc)


 

M&S Bank

 A lower one-off fee, so beats the above if you can clear your transferred balance in 20 months or less – plus earn M&S points on spending. It pays 1 point (worth 1p) per £1 spent in M&S, 1 point per £5 spent elsewhere and a bonus 500 points (worth £5) on one purchase at M&S via a coupon it sends, with no minimum spend. The card has a 21.9% rep APR. Full card spec

- 20mths 0%

- 2.9% fee (min £5)

 Check eligibility
Apply*
The next best 0% all-rounder cards. Here are quick details of decent alternatives.
MBNA
0% only on purchases/ transfers in the first 60 days

- Up to 20mths 0%

- 2.99% or 3.49% fee
- 20.9% rep APR

 Apply
Not in eligibility calc
Lloyds Bank - Up to 21mths 0% (spending)
- Up to 18mths 0% (transfers)
- 2.99% or 3.49% fee
- 21.9% rep APR		 Check eligibility
Apply*
Barclaycard - 20mths 0% (spending)
- 18mths 0% (transfers)
- 2.9% fee
- 21.9% rep APR		 Check eligibility
Apply*
Virgin Money - 19mths 0%
- 2.9% fee
- 21.9% rep APR		 Check eligibility
Apply*
Tesco Bank
- Up to 15mths 0%
- 1.99% fee
- 20.9% rep APR		 Check eligibility
Apply*

Important: (i) Fee as a percentage of debt shifted. To get the 0% and fee, you must usually do the balance transfer within 60/90 days of opening. You can't transfer a balance between cards from the same bank/group.｜Representative APR (variable) after the 0% period is stated above – your balance transfer interest may be different.｜See all official APR examples. 

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Cashback sites may pay you for signing up

As an extra boon, members of specialist cashback websites can be paid when they sign up to some financial products. Do check it's exactly the same deal though, as terms can be different. And remember that cashback is never 100% guaranteed until it's in your account. 

There's full help to take advantage of this and pros and cons in our Top Cashback Sites guide.

Coronavirus credit card help

If you're struggling to pay off debt on an existing credit card due to coronavirus, lenders should provide support. Yet the blanket payment holiday help that used to be available has ended.

So if you're struggling to pay your credit card debt now, or you're coming off an agreed payment holiday, lenders are now supposed to provide 'tailored support'. Under this, you could be offered a (further) payment holiday or a period of reduced payments, reduced interest or a repayment plan – lenders should take into account how much you can afford and how your finances are likely to change in the near future.

Providers are expected to report any support they give you to credit reference agencies, which could affect your future creditworthiness. Yet don't let that put you off from contacting your provider – missing payments or defaulting is likely to have a far worse impact.

For the latest updates and full information on the support available, see our Coronavirus Finance & Bills Help guide.

0% 'all-rounder' cards Q&A

  • Why did it reject me? I've got a great credit score!

    Lenders have a wish list and want profitable customers – it's not all about your credit score. If they determine you can't afford the card or you're simply not profitable to them, they may reject you.

    Of course, you should check for errors on your credit file, but hard and fast reasons for rejection are difficult to come by. It may be as bizarre as a lender choosing to give credit cards to customers it's more likely to be able to flog a mortgage to. For a better understanding, visit our Credit Club to see your unique MSE Affordability Score and Experian Credit Score for free.

  • Does a lower interest rate mean I pay less each month?

    No. These are totally separate things. Unlike loans, with credit cards you choose how much you repay each month, though every card has a set minimum monthly repayment. The interest rate is the cost of the debt. For example, a rate of 20% on £1,000 means it costs you £200 a year assuming a constant balance (see our Interest Rates guide for more).

    Always check a card's minimum repayment before switching – as you could end up paying more each month than you do now.

    Also bear in mind that the more you repay, the faster the debt disappears. Especially important is that you try to pay more than the set minimum. For more on that and tips on how to do it, read our Minimum Repayments: Danger! guide.

  • What if the credit limit I get isn't high enough?

    If it's not high enough to buy what you want, or transfer other debts to the card, just use as much of the limit of the card you've just got as you can. You could always try to get another purchases or balance transfer card, or look for another way to get the cash.

  • I already have a lot of debt. Will this help me?

    It could, but you'll need to be disciplined. These 'all-rounder' 0% cards can be used to balance-transfer existing card debts, giving you time to pay off the debt more slowly, and at 0%. But as there's a 0% spending period too, it could actually tempt you in to further debt – so it might be better not to take the risk.

    It may be better to look at more serious ways to cut costs and sort out your debts. See our Money Makeover guide for how to cut costs on everyday expenses, or Debt Help for where to find help and advice.

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