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Balance transfer credit cards
Shift existing card debt to 0% interest for up to 30 months
Updated 10 December 2024
Paying credit card interest? STOP. A balance transfer credit card can save you £1,000s by slashing the interest you pay. Our guide has full info and top picks, plus our Balance Transfer Eligibility Calculator will reveal the cards you've the best odds of getting.
First, a quick overview of balance transfers...
If you've debt on a credit card, a 0% balance transfer card is a powerful tool to slash costs. It pays off the debt on your existing card(s) for you, so you owe it instead, but interest-free for a set time. That way, more of your repayments clear the debt, rather than just paying interest....
- Don't just apply - go via an eligibility calc. Our 0% Balance Transfer Eligibility Checker* speedily shows acceptance odds for top cards (some are 'pre-approved'), without affecting your creditworthiness.
· Go for the LOWEST FEE within a 0% time long enough to clear the debt. Longer balance transfers usually have a bigger one-off fee to transfer. So if you've a choice and can clear debt quicker, go for a shorter deal to minimise fees. Unsure? Go long.
Top-pick newbies' 0% balance transfers (longest first) |
|
| Link goes via eligibility or read full Barclaycard review |
- Up to 30mths 0% - 3.45% fee - 24.9% rep APR after |
| Link goes via eligibility or read full HSBC review |
- Up to 30mths 0% - 3.49% fee - 24.9% rep APR after |
| Tesco Bank Link goes via eligibility or read full Tesco Bank review |
- 29mths 0% - 2.95% fee - 24.9% rep APR after |
New. Barclaycard Link goes via eligiblity or read full Barclaycard review |
- Up to 14mths 0% - NO FEE - 24.9% rep APR after |
- If you do get a card, ALWAYS follow the Balance Transfer Golden Rules:
a) Never miss the minimum monthly repayment, or you could lose the 0% deal.
b) Clear the card before the 0% ends, or the rate rockets to the higher APR.
c) Don't spend or withdraw cash. It usually isn't at the cheap rate.
d) If you don't transfer at application, you've usually only 60-90 days to get 0% deal.
The full balance transfer guide...
Now we've given you a brief overview and you understand the basics, let's take you through balance transfers in more detail...
What is a balance transfer card?
With a 0% balance transfer you get a new card to pay off debt on old credit and store cards, so you owe it instead, but at 0% interest. A card will have a 0% period, during which you pay no interest – for example, 28 months – and sometimes you'll pay a small fee. It means you become debt-free quicker, as more of your repayments reduce the debt, rather than pay off interest.
How does a balance transfer work?
A balance transfer allows you to transfer debt from one credit card provider to another. To do this you must open a new balance transfer credit card, which are specifically designed for this process and often come with deals which mean you pay no interest on your debt for a set number of months. There's usually a one-off fee to transfer the balance across, though some cards offer both no transfer fee and a number of months at 0% interest – though these are rare.
Once you've successfully applied for the card, you can request a balance transfer of all or some of your debt from old credit cards and it will be transferred to your new card. You usually need to request this within the first 60 to 90 days – if you delay, you could lose the promotional 0% deals.
Here's an example to help explain...
You get a credit card and, following a few unexpected purchases, owe £4,000 and are being charged 24.9% annual interest.
- To avoid paying interest on your debt, you open a balance transfer credit card, which comes with 20 months at 0% and a one-off fee of 3% of the amount transferred.
- Following your transfer request, the £4,000 is transferred from an existing credit card to the new card, which including the 3% fee gives you an outstanding debt of £4,120.
- You close the old card (as all outstanding debt has been transferred) and now have 20 months to pay off the £4,120 interest.
- Paying £206 per month over 20 months would accomplish this.
As you can see, these cards can offer a vital relief from interest charges, allowing you some breathing space to pay off debt as quickly as you can.
MSE's Credit Club shows your real-world credit power – which translates to acceptance for credit cards, loans & more – and explains how to improve things.
MSE's Credit Club uses a new Eligibility Rating which combines the THREE crucial factors that dictate whether a lender will accept you, to show a far bigger picture...
1) Your credit score
2) Your affordability score (which, crucially, includes income)
3) Current market conditions
Once logged in, you can also use our Credit Cards Eligibility Calculator to see which cards you'll most likely be accepted for, without impacting your ability to get future credit.
It'll also show your credit report and other related info, plus gives access to our eligibility calculators for loans and mortgages.
Which balance transfer card is best for me?
First up, you can't transfer a balance between cards from the same bank/group. So where you're transferring debt from will narrow down the choice. Of those left, which to go for will largely be determined by which cards you're eligible for, as you'll need to pass a credit check as part of any application.
Our eligibility calculator will show your chances of acceptance for most of the top interest-free balance transfer cards in this guide, with no impact on your credit score. If it shows you're eligible for many cards but you're unsure which to pick, follow this rule...
Go for the card with lowest fee in the 0% period you're sure you can repay it in. If unsure, play safe and long.
When making your choice, here are the key factors to look out for...
- The balance transfer period is how long you get at 0% interest. Different cards have different lengths at 0%, try to choose one that will give you enough time to pay back your debt.
- The balance transfer fee is a one-off charge calculated as a percentage of the amount of debt you transfer to your new card. Typically, the longer the period, the higher the fee. Some credit cards offer shorter periods where you pay no fee, though these are rare.
- The APR is the rate of interest at which you will be charged after the 0% period ends, should you have debt remaining on the card. The higher the APR, the more you'll be charged on any outstanding balance. The APRs providers advertise are representative examples, meaning only 51% of applicants have to get that rate (so up to 49% could be accepted and be charged a higher rate of interest).
Best 0% balance transfer cards
We've highlighted the standout cards here, yet our eligibility calculator has many more, so it's best to use that to get your personalised best-buy table. The calculator also shows if you're 'pre-approved' for any cards, and for a few can even show a guaranteed credit limit.
Barclaycard |
Joint-longest 0% with the lowest fee, but some could be offered less time at 0%. You'll get the full 30 months at 0% if you're pre-approved in our eligibility calculator (provided you pass Barclaycard's ID & fraud checks). If not, some could be accepted and offered 15 months at 0%. | ||
- Up to 30 months 0% - 3.45% fee (min £5) - 24.9% rep APR |
Check eligibility (i) | ||
HSBC |
Joint-longest 0% with a smidge higher fee, though some could be offered a shorter time. You'll get the full 30 months at 0% if you're pre-approved in our eligibility calculator (provided you pass HSBC's ID & fraud checks). If not, some could be accepted and offered 26 or 14 months at 0% and a higher APR after the 0% period ends. | ||
- Up to 30 months 0% - 3.49% fee - 24.9% rep APR |
Check eligibility (i) | ||
|
Longest definite 0% period and lowest fee – all accepted get 29 months 0%. If you can clear your debt in this time it beats the above cards due to the lower fee. | ||
- 29 months 0% - 2.95% fee - 24.9% rep APR |
Check eligibility (i) | ||
|
New. Longest card with NO FEE of 'up to' 14 months at 0% – so no cost at all if you can repay in that time. If you're pre-approved you'll get the full 14 months, if not you could get just seven months. So if you've poor acceptance odds it's worth checking NatWest's NO FEE card, as if eligible you'll be pre-approved for either 12 or 10 months. | ||
| - Up to 14 months 0% - NO FEE - 24.9% rep APR |
|
||
| The next best 0% balance transfer cards. Here are quick details of decent alternatives. | |||
| Virgin Money | - 29 months 0% - 3.45% fee - 24.9% rep APR |
Check eligibility (i) | |
| M&S Bank | - Up to 27 months 0% - 3.49% fee (min £5) - Ends Thu. £30 M&S voucher on £1,000+ transfer in first 60 days - 24.9% rep APR |
Check eligibility | |
| Apply* | |||
| Tesco Bank | - 18 months 0% - 0.99% fee - 24.9% rep APR |
Check eligibility (i) | |
| NatWest | - Up to 12 months 0% - NO FEE - 24.9% rep APR |
Check eligibility (i) | |
Important: Balance transfer fees are a percentage of debt shifted. To get the 0% and fee, you must usually do the balance transfer within 60 or 90 days of opening. You can't balance-transfer between cards from the same bank/group.｜Representative APR (variable) after the 0% period is stated above – your balance transfer interest may be different. (i) These providers have asked us to only link to our eligibility calculator.｜See all official APR examples.
Longest 0% period of 29 months, plus £25 cashback if transferring over £2,500 – but if you're not pre-approved in our eligibility calculator you could get just 14 months at 0%.
Apply via our links by Thurs 8 Feb and transfer £2,500+ within 60 days and you'll get £25 cashback. You won't qualify for the cashback if you've had a Barclaycard within the last six months.
0% period
Up to 29 months (some could get 14 months)
Fee
3.45%
Rep APR
24.9%
Another long 0% period of 28 months, though, again, if you're not pre-approved you could get just 20 months at 0%.
This could be a good option if you're not pre-approved for the Barclaycard above, as although the fee is a smidge higher, the worst-case acceptance scenario is better.
0% period
Up to 28 months (some could get 20 months)
Fee
3.49% (min £5)
Rep APR
24.9%
Longest definite 0% period – all accepted get the full 26 months at 0%.
Slightly shorter interest-free period than the above cards, but you'll definitely get the full 26 months if accepted. This could be a good option if you're not pre-approved for the above cards and you don't want to risk being offered fewer interest-free months
0% period
26 months
Fee
3% (min £5)
Rep APR
23.9%
Longest 0% period with NO FEE – all accepted get the full 13 months at 0%. A winner if you can repay before the 0% ends, as this transfer will cost you absolutely nothing.
Plus, our eligibility calculator will tell you if you're pre-approved for a guaranteed minimum limit. This card is also offered by sister banks RBS and Ulster Bank, though these do not feature in our eligibility calculator.
0% period
13 months
Fee
NO FEE
Rep APR
24.9%
The next best 0% balance transfer cards
A good option if you've poor acceptance odds for the above cards. A slightly shorter 27 months at 0%, though if you're not pre-approved you could get just 20 or 14 months.
0% period
Up to 27 months (some could get 20 or 14 months)
Fee
3.49% fee (min £5)
Rep APR
24.9%
A shorter 0% period than the above cards – 20 months at 0% – but a lower 2% fee. All accepted get the full 20 interest-free months.
0% period
20 months
Fee
2%
Rep APR
24.9%
0% period
Up to 12 months
Fee
NO FEE
Rep APR
24.9%
Important: The fee is a percentage of debt shifted. To get the 0% and fee, you must usually do the balance transfer within 60 or 90 days of opening. You can't balance-transfer 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.
Best balance transfer cards for bad credit
To be accepted for most of the deals above, you need a decent credit score. If that's not you, there's still hope, as a few providers offer cards for those with a patchy credit past – though the 0% transfer periods are usually much shorter. Some will accept you even with past defaults or county court judgments (CCJs). For more info on cards for those with bad credit, see our full guide.
The cards below are all included in our eligibility calculator, but they're worth highlighting because of one big difference...
The interest rates after the 0% periods end are VERY expensive, so plan how much to shift. All the cards below charge up to 34.9% rep APR after the 0% periods end, so compare that against your current card's interest rate. If your current card's rate is higher, then shift as much debt as possible. If it's lower, then only shift the amount of debt you're sure you can clear within the 0% period.
 Virgin Money |
Long 0%, accepts some past credit issues. All accepted get the full 16 months at 0%. Even if you've had CCJs or defaults in the past, you may still be accepted if you have a recent history of managing credit, a UK bank account, and a yearly personal income of £7,000 or a household income of £15,000 (including non-salary income such as pensions). | |
- 16 months 0% - 29.9% rep APR |
Check eligibility (i) |
|
 Fluid |
Shorter 0%, but lower minimum income needed. You can't have been declared bankrupt, had a CCJ, or had an Individual Voluntary Arrangement (IVA) in the last three years. You also need a minimum annual income of £5,000, 12 months' UK address history and a UK bank account. |
|
- 9 months 0% - 3% fee - 34.9% rep APR |
Check eligibility (i) | |
Important: Balance transfer fees are a percentage of debt shifted. To get the 0% and fee, you must usually do the balance transfer within 60 or 90 days of opening. You can't balance-transfer between cards from the same bank/group. (i) These providers have asked us to link only to our eligibility calculator. | See all official APR examples.
Longest 0% period for poorer credit scorers – 16 months at 0%. All accepted will get the full 16 interest-free months.
You must have a history of managing credit, even if you've had CCJs or defaults in the past, and a yearly £15,000+ personal income (including non-salary income such as pensions).
0% period
16 months
Fee
3%
Rep APR
29.9%
Not available direct
Longest 0% period with NO FEE for poorer credit scorers – 6 months at 0%. All accepted will get this deal.
You must have a minimum personal income of £10,000, plus two active lines of credit such as a phone contract or overdraft.
0% period
6 months
Fee
NO FEE
Rep APR
34.9%
The next best poor-credit balance transfer cards
Not in our eligibility calculator
A decent 0% period of 9 months, which all accepted will get.
You can't have been declared bankrupt in the last 18 months or have had any CCJs in the past 12 months.
0% period
9 months
Fee
3%
Rep APR
34.9%
Not available direct
A good option if you've poor acceptance odds of the above cards – all accepted get six months at 0%.
You must have a recent history of managing credit, even if you've had past CCJs or defaults.
0% period
6 months
Fee
3%
Rep APR
34.9%
Important: Fee is a percentage of debt shifted. To get the 0% and fee, you must usually do the balance transfer within 60 or 90 days of opening. You can't balance-transfer 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 that it's exactly the same deal though, as terms can be different. And remember that the cashback is never 100% guaranteed until it's in your account.
There is full help to take advantage of this and pros and cons in our Top cashback sites guide.
If you can't get a new 0% card, try the credit card shuffle to cut interest
If you're unable to get any of the cards above (use our eligibility calculator to check), you may still be able to slash the interest and save money by asking for a low-rate or 0% deal on the card you already have.
If you've more than one credit card, you can then shift debt to the card which offers the lowest rate, though you'll need to factor in any one-off transfer fees.
Here's how to do it step by step:
- List all your debts. Take stock of your current situation and note down all your existing debts, including an overdraft if you have one. Our credit card shuffle worksheet may help.
- Check your account(s) for existing-customer offers. Lenders sometimes offer special deals (either a lower rate or 0% for a set period) for transferring new debt to your existing cards, though usually for a one-off fee. You can usually find these on your online account or by calling your card provider.
If you're paying debts at 18.9% APR on a credit card, and you can get a low-rate deal for 6.9% APR on another card you have, you could save about £120 interest in a year on a £1,000 debt.
- Shift debts to the cheapest card. Do a balance transfer to shift your debt from the card(s) charging the most interest to the one charging the least (or the cheapest ones, if your credit limit isn't big enough to allow you to move it to just one card). You could even consider shifting debt away from any card that will offer you a 0% deal for transferred balances. You can then transfer it back along with debt from other cards to get the 0%. Though be aware of balance transfer fees that could wipe out the gain.
- Repay the most expensive debts first – the most crucial part. Once all your debt's as cheap as possible, relist them in the credit card shuffle worksheet. Then, focus as much cash as possible on the most expensive debt first and just pay the minimum repayments on any less expensive debts. Once that's repaid, shift focus to the next highest-rate debt... continue this until you're debt-free.
Quick credit card shuffle questions
Balance transfer FAQs
-
Should I apply if my eligibility odds are, say, only 20%?
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Remember percentages are a clinical measure. A 50% chance means half those in your situation will be accepted. And while 95% seems almost certain, you can still be the 1 in 20 who doesn't get it.
My worry is many are wrongly put off by low odds. I often tell a tale of something that happened a few years ago, which may help...
I sat with a MoneySaver who had large, costly card debt and a poor credit history. Her eligibility showed zero chance of all balance transfers, except a 20% chance with Halifax. She looked despondent and asked me: "Is there any point?"
I explained that as it was the only credit she needed - there was no mortgage application or similar due - it didn't overly matter that a rejection would mark her file. The reason to protect your credit history is so you can get maximum use from it when needed.
This was her most pressing financial need, so a 20% chance was better than nowt. The worst that could happen was a rejection. She applied and got a 26mth 0% card with a £1,500 limit.
For more on this, and what you can do to improve things, see my related blog: Why you shouldn't worry too much about your credit score - it's not actually a real thing. -
What if my credit limit isn't big enough?
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The application is now on your credit file anyway, so make use of it. Use the new card to shift as much debt as you can to cut costs.
Once that's sorted, you can use our 0% Balance Transfer Eligibility Calculator again to see your chances of acceptance for other providers' cards. Though try to spread future applications out, as too many in a short space of time can hurt.
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Can I shift debt to my existing cards too?
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Yes and it's worth looking at. Some cards will give existing cardholders special offers (eg, 12mths 0% for a 3% fee), not as good as new customer deals, but useful, especially as it won't usually go on your credit file.
Even if you don't get a special rate, try and move all your debt to where it's cheapest. For example, if one is 18% APR, another 30%, ask the 18% card if you can shift debt from the other to it, it'll help. For a full step-by-step, see the credit card shuffle for how this all works.
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Should I try and pay off my biggest debts first?
![]()
The best thing to do is list all of your debts in order of the interest rate (APR) with the highest first.
Then focus all spare cash on clearing that highest APR debt – as that's growing most quickly – and just pay the minimum on all others. For many people this will be the overdraft at first, as at 40% it's often more than double a high street credit card. So reducing your debt on it is the priority.
Once you’ve cleared the costliest debt, shift your spare cash to the next highest APR, and so on. This way you’ll pay less interest and more of your money will be clearing the actual debt.
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