Best Balance Transfer Credit Cards in the UK for November 2024.

Transferring credit card debt to a balance transfer card can help you save on interest, allowing you to pay off your debt faster. Discover how balance transfer cards work and find our top picks for the best deals available, tailored to various credit scores.

If you’re paying interest on your credit card, moving the debt to a balance transfer card could save you money. Many cards offer an introductory period with 0% interest for a set timeframe—ranging from a few months to over two years—so you won’t pay interest if you clear the balance before the promotional period ends.

The Best 0% Balance Transfer Cards

If you’re new to balance transfer cards, choose one that suits your financial situation. Generally, seek a card with the lowest APR (ideally 0%), the longest interest-free period, the lowest transfer fee, and a credit limit high enough to cover your existing debt.

Longer 0% deals are often available to those with higher credit scores. Using an eligibility checker can give you a sense of your chances for approval, along with an estimate of your potential credit limit and APR. This check is quick, easy, and won’t appear on your credit report.

Longest 0% Interest-Free Balance Transfer Cards

These cards are ranked by the longest 0% interest period, followed by balance transfer fee, and then APR. Your specific offer may vary.

Provider 0% Interest Period (up to) Balance Transfer Fee Representative APR Website Link
hsbc (1) 30 months 3.49% 24.9% Visit Website
virgin money 29 months 3.45% 24.9% Visit Website
tesco 28 months 3.19% 24.9% Visit Website
barclays barclaycard logo 28 months 3.45% 24.9% Visit Website
santander new 28 months 3.9% 24.9% Visit Website
ms bank 27 months 3.49% 24.9% Visit Website
lloyds bank new 27 months 3.49% 24.9% Visit Website
halifax 27 months 3.49% 24.9% Visit Website

Note: We regularly update this table to reflect accurate information, but always double-check terms as they may change. Credit card data is provided by Finance Monthly.

Longest 0% Interest-Free Period with No Fee

For those looking to avoid a balance transfer fee, the following cards offer interest-free periods without one.

Provider 0% Interest Period (up to) Balance Transfer Fee Representative APR Website Link
rbs 13 months 0% 24.9% Visit Website
ulster bank stxhte 13 months 0% 24.9% Visit Website
santander new 12 months 0% 23.9% Visit Website
natwest 13 months 0% 24.9% Visit Website
danske 5 months 0% 22.9% Visit Website

Balance Transfer Cards for Bad Credit

If you have a lower credit score, you might still qualify for a balance transfer card. Though you may not receive the longest 0% deals, some providers offer low or 0% interest cards for individuals with limited credit history.

Be sure to check the APR once the promotional offer ends. If you’re not likely to clear the balance by that time and the APR is higher than your current card, consider waiting to transfer until you’re eligible for a better deal. Alternatively, consider transferring only part of your balance that you can clear before the 0% offer expires.

How Do 0% Balance Transfer Cards Work?

With a balance transfer card, you use one card to pay off another. The primary benefit is the ability to clear debt faster, without accruing interest charges. For instance, if you owe £2,000 on a card with 25% interest, a substantial portion of your monthly payment goes toward interest. By moving this debt to a 0% balance transfer card, you’ll only be paying off the principal for the introductory period. However, keep in mind that many 0% cards charge a transfer fee, typically up to 5%.

Once the 0% period ends, interest reverts to the card’s standard rate. Aim to clear the debt before this occurs, or you could apply for a new balance transfer card to keep the interest-free momentum going.

Advantages of 0% Balance Transfer Cards

The main benefits of a balance transfer card include:

  • Reduced or eliminated interest charges.
  • Accelerated debt repayment by focusing payments on the balance, not interest.
  • The ability to consolidate multiple debts onto one card, simplifying payments.
  • A potential boost to your credit score, provided you don’t add new charges.

Disadvantages of 0% Balance Transfer Cards

Consider these drawbacks:

  • A balance transfer fee is common, typically a percentage of the balance transferred.
  • Interest rates revert to the card’s standard rate after the 0% period.
  • If you make purchases or cash withdrawals, these may incur interest immediately unless specified otherwise.
  • A temporary dip in credit score may occur, as each new application prompts a hard credit check.
  • Risk of financial setbacks if you’re not disciplined with spending and debt management.

Am I Eligible for a Balance Transfer Card?

Although the best deals usually require a good credit score, there are balance transfer cards available for individuals with lower scores. These typically have a lower credit limit, shorter promotional period, and a higher APR after the introductory period ends. Even without a 0% offer, transferring to a lower-APR card could reduce costs.

Before applying for a balance transfer card:

  • Check Eligibility: Most providers require you to be over 18, a UK resident, with a permanent address and a minimum income. Avoid recent bankruptcies, IVAs, or CCJs. An eligibility checker from a provider or broker can help gauge your likelihood of approval without affecting your credit report.
  • Check Your Credit Score: Your score can influence the success of your application. Factors like missed payments and high credit usage impact it, so review your score for free with agencies like Experian, Equifax, ClearScore, or Credit Karma.

How to Apply for a Balance Transfer Card

You can usually apply for a balance transfer card online or in-branch. The provider will run a credit check, so be prepared to provide:

  • Your contact information
  • Address history (last three years)
  • Bank details
  • Income

If applying online, you may get an instant decision, though approval times vary. Upon approval, review your credit limit, APR, fees, and minimum payment. Only sign if you’re satisfied; you can still walk away without obligation. After signing, you’ll have a 14-day cooling-off period during which you can cancel the agreement.

If denied, avoid reapplying immediately, as repeated applications can harm your credit score. Instead, review your credit report and use eligibility checkers before applying again.

How to Transfer a Balance

After your account is open, transfer your balance as soon as possible to start saving on interest. Follow these steps:

  1. Request the transfer from your new provider (typically online or by phone) and provide account numbers and transfer amounts.
  2. Wait for the transfer to complete—this may take minutes or a few days, depending on the provider. Once done, you can close the old account if you’ve cleared the balance.
  3. Make timely payments on your new card to maintain the 0% offer and protect your credit score. If your new credit limit doesn’t cover the full balance, continue paying the remaining balance on the old card as well.

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