We compare leading providers
We’ll track down the balance transfer cards best suited to your needs, comparing key features such as balance transfer fees, interest rates and incentives.
Super save with a balance transfer credit card
Pay no interest for up to 31 months
MoneySuperMarket is a credit broker not a lender. You must be 18 or over and a UK resident.
MoneySuperMarket works with a broad range of household-name credit card providers, including
We’ll track down the balance transfer cards best suited to your needs, comparing key features such as balance transfer fees, interest rates and incentives.
We’ll tell you which balance transfer cards you’re likely to be approved for, as well as any you’ve been pre-approved for.
We’ll only carry out a soft search on your finances when you’re comparing. That means no mark will be left on your credit file.
A balance transfer credit card allows you to transfer the balance from existing credit cards to a new credit card account, usually for a fee.
Transferring your balance can be a really good way to cut your outgoings and get on top of your debt.
Compare balance transfer cards to find the best deal – ideally a card that gives you enough time to pay off your debt at 0% interest. Factor in any fees.
Give your new card provider details of your transfer. It usually takes 1-2 days. You can’t usually transfer debt between cards from the same provider.
Make a note of when the interest-free period ends and spread your payments to make sure you’ve cleared your debt or get ready to switch again.
Start paying off what you owe, making sure you stick to the terms. Missing a payment could mean a charge and the interest-free period being cancelled.
You have a choice of cards depending on whether you want to pay 0% interest for as long as possible, avoid balance transfer fees, or carry on using the card to spend.
Consolidate existing card debts onto a new card with the longest interest-free period possible. You’re likely to be charged a one-off fee
Transfer what you to owe on other credit cards to one low interest no-fee balance transfer card to cut your debt repayments
Want to clear debts and continue to spend on the same card? With a combined card you’ll get low rates on balance transfers and new spending
Applying for a credit card can sometimes feel daunting, especially if you have a low credit score, because it’s not always clear what deal you’ll get, or if you’ll be accepted. If you’re pre-approved for a credit card you can relax, because you know the deal you see is the deal you’ll get. You’ll know where you stand, with the facts at your fingertips to help you make the right choice for you.
When you’re pre-approved, the interest rate, interest-free period and fee (if there is one) are all confirmed. The only thing not guaranteed is your credit limit
You’ll see your personalised chance of approval for all balance transfer credit cards, so you can easily compare your options
Our soft search shows you your chances of approval. This helps protect your credit score as you’re less likely to be rejected when you apply
Do you need to pay off debt, will you still need a card for new spending? Think about what you’ll need the card to do
Work out how long it’ll take to pay off your debts. For large debts a longer interest-free balance transfer period could suit even if there is a big fee
Your credit score will affect the card deal you’re offered. Check your credit file for free with Credit Monitor and learn how to boost your chance of getting a great deal
Check the balance transfer charge and any other charges. If you can’t pay off the debt within the interest-free term, you may need to switch again with another fee
You may still be able to get a balance transfer card even if you’ve struggled with debt in the past and have a low credit score. Here are some things to consider:
Specialist credit card providers can cater for those with bad credit
Expect interest rates to be higher than for standard card deals
Interest-free periods and credit limits may not be as good
We can help you find a card to suit your needs without further harming your credit score. You can check your eligibility with a ‘soft search’ and see your chances of being accepted. See ways to boost your credit score.
Representative 34.9% APR
"A balance transfer credit card can be a great way of consolidating debt to give you time to pay back what you owe without having to face high interest rates. The calculation to make before applying for a card is whether the amount you are due to save in interest will outweigh the one-off fee for moving your balance to the new card. The good news is that it usually does.
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If you feel that a balance transfer credit card could be right for you, the next step is to use the MoneySuperMarket Eligibility Checker to see what cards are available – and your chances of being approved.
We’ll ask you a handful of simple questions about you and your financial circumstances, and what you need from a credit card
We’ll sift through dozens of credit card offers from across the market, and then show you the most suitable deals
You’ll be shown a range of credit cards, which you’ll then be able to sort according to 0% interest periods, interest rates and your chances of being approved
There are a number of factors that affect your credit score, including the number of credit applications you’ve made, your employment status and whether you’re on the electoral register.
As such, making a new credit application – even for a balance transfer credit card – can cause an initial drop in your credit score. However as with any kind of credit product, if you make your repayments on time your score should eventually start climbing again.
When you get your new credit card, you should destroy any old ones you have – even though they may be expired or the account may be closed, an identity thief can still use the information on the card.
You should be able to transfer any existing credit card balances on to your new credit card. But it isn’t usually possible to transfer a card balance between two cards issued by the same bank or banking group.
Most providers will let you transfer balances between £100 and £10,000 to a new card – at most, around 90% of your current credit limit.
Balance transfer fees are generally given as a percentage of the overall amount you’re transferring – this will usually be between 1% and 3%, but could range anywhere from 0.5% to 5% of the total sum.
Some balance transfer deals may be fee-free, but typically they will have shorter 0% interest periods.
If you have a balance on one or more credit cards that you can’t repay in full it is likely you’re paying a high standard APR on this debt. By switching it to an interest-free balance transfer card you can reduce your monthly repayments and pay down the debt faster.
Once you’ve found a suitable balance transfer card you can apply online and if you’re accepted you can ask the new provider to pay off the debt on your old credit card or cards, transfering the balance across to your new card – paying any balance transfer fees in the process. Typically you will have a window – such as 60 days – within which to make the balance transfers to your new card.
There are no limits on how many times you can transfer a credit card balance from lender to lender. But remember your credit score can be negatively affected when you apply for credit, so if you make a lot of applications in a short space of time this could impact on your ability to get the best balance transfer deals.
An online balance transfer to a new card can usually be done within a few days. But transfer times will vary between providers due to their different procedures. In some cases it could take a couple of weeks.
There are lots of reasons why transferring credit card balances is a shrewd move. But it's only worthwhile if it helps you pay off your debt faster during the interest-free period, so you pay less overall – and provided you’ll still be saving money after any balance transfer fee is paid.
If you need a credit card to continue spending, there are likely to be better alternative options.
When weighing up whether a balance transfer card is right for you, we recommend you...
Ensure the savings in interest you'll make outweigh the transfer fee
Are aware that the interest rate will rise steeply after the 0% period
Bear in mind that late or missed payments mean you could lose your 0% deal
Remember that you can't usually transfer balances between cards from the same provider
As a general rule, you'll need a high credit rating to be eligible for a balance transfer card. According to credit rating agency Experian, applicants with an impaired rating or a score of 669 or lower are unlikely to be accepted.
Divide the amount you transfer by the number of months your interest-free deal lasts for. The result is the amount you need to pay each month to clear the debt.
If you do not clear the balance by the end of the 0% period, you will be charged interest on what you owe.
You will have to make at least a minimum payment each month.
If you know you’re not going to clear the balance within the 0% period, you could consider transferring to another card with an interest-free period.
Always pay the minimum monthly payment on time to avoid penalties and interest charges.
Avoid exceeding your credit limit or you’ll face penalties such as losing your interest-free deal.
Make the necessary payments to the card or cards you move the balance from, especially if you do not clear the balance completely.
If you do not clear the balance by the end of the interest-free period, transfer that sum to another 0% balance transfer card.
You work hard to earn your money, and we don’t think you should waste a penny of it paying over the odds on your household bills. That’s why at MoneySuperMarket, we’re on a mission to save Britain money.
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