Choose balances to transfer
Once you’ve got your new credit card, log into your account and select which debts you want to transfer.
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Your balance transfer fee is what you’re charged when you move an outstanding credit card balance to a different card. The fee is calculated as a percentage of the balance you’re transferring across.
A no-fee balance transfer credit card lets you transfer debt from an existing credit card to a new credit card without paying a transfer fee. This type of card often offers 0% interest on your outstanding balance for a time, typically between six months and two years, giving you some breathing room to get on top of your debts.
No-fee and low-fee balance transfer cards allow you to move existing card balances to a lower or 0% interest rate credit card with no fee. Transferring a balance is quick and simple.
Once you’ve got your new credit card, log into your account and select which debts you want to transfer.
Your new provider will submit a transfer request to your existing credit card providers on your behalf.
Once the balance transfer goes through, you’ll have a period when your debt is at a low or 0% interest.
Low-fee and no-fee balance transfer cards can be helpful, but they don’t suit every credit card user. Here are the main advantages and disadvantages:
Avoid fees for transferring your debts
Consolidate and pay-off other expensive credit cards
A great way to reduce monthly repayments
Typically you’ll pay higher interest on any new purchases
Can’t transfer between cards from the same lender
The interest rate (APR) will rise sharply once the 0% period ends
It’s important to get the best no-fee balance transfer card for your needs. Here's a whistlestop guide to the key things to look out for…
The longer the period when you’re paying 0% interest or a reduced rate, the more time you’ve got to clear your debts and take control of your finances
How much does the APR jump after the introductory period? Will you be able to afford it, if you’ve failed to clear your debts by that time?
No-fee credit cards sometimes offer cashback at high-street shops, or free subscriptions to streaming services. So keep an eye out for incentives.
You’ll need a good credit score to get the best deals. You may also need to be earning above a certain income to qualify for some no-fee balance transfer cards.
You may be able to get a no-fee balance transfer card if you have a low credit score. But the best deals are usually only available to customers with an excellent credit rating.
You might find you face higher interest rates for borrowing and a lower credit limit if you have bad credit. The good news is there are some simple ways you can improve your credit score.
"Balance transfer cards can be a real win if you’re looking to pay off expensive debts at a lower interest rate. You get to move the debt over to the new card and then pay no (or very little) interest for a set time period. That means you can use the money you were spending on interest to focus on paying off the debt. Some of these cards have a transfer fee, of up to 3% of the amount transferred, but if you can find one with no fee it’s a win win.
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It’s straightforward to compare no-fee credit cards with us. We’ll show you all the important information, including 0% interest periods and incentives
We’ll run a soft search to show you your chance of getting each no-fee credit card, including any you’ve been pre-approved for
Our credit cards service is highly rated. We currently have a 4.4/5 star rating on Feefo - our customers praise the ease of using our site and our great deals.
When you apply for a credit card, it’s not always clear what deal you’ll be offered or whether you’ll be accepted. But when you’re pre-approved for a credit card, you know the deal you see is the deal you’ll get – you know where you stand, with information that will help you make the right choice.
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 credit cards, so you can easily compare your options.
This helps protect your credit score as you’re less like to be rejected when you apply.
If you feel that a no-fee 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 which you’re most likely to be approved for.
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 cards offers from across the market, and show you the cards we think will suit you best.
You'll be shown a range of credit cards, which you'll be able to sort according to APR, features and your chances of being approved.
While you can use zero-fee balance transfer cards for making purchases their main use is to transfer balances from other credit cards. Usually this means moving debts from a card which charges a high rate of interest to one with much lower interest – and sometimes with 0% interest.
You can also use your card for money transfers. With a money transfer you can move some of your available credit to your current account – for example to pay off an expensive overdraft, or to use in cash. But you will usually have to pay a fee for this.
Most balance transfer credit cards have a limited window for transferring credit card balances and after that time you won’t be able to transfer any more to that particular card.
The credit limit you’re offered – how much money you can borrow on a particular credit card – will depend on two things: the type of card and your credit score. As a general rule, the better or higher your credit score the higher your credit limit will be and the lower your interest rate or APR.
While it’s possible to transfer credit card balances several times, it’s best to transfer your balances as infrequently as possible. Applying for multiple cards means multiple ‘hard’ credit searches, which can leave a mark on your credit file and lower your credit score for a time.
You can usually consolidate multiple credit card balances onto one new balance transfer credit card – so you’ll end up with one single monthly repayment, but you will be limited by the credit limit on your new card.
You have a choice whether you close the credit cards after consolidating the debt. It may be a good idea to avoid the temptation of impulse buying and getting into more debt. But you may also want to keep the existing card for emergency purchases because balance transfer cards often charge high interest rates if used for spending.
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.
Balance transfer and money transfer cards work in a similar way – helping you move expensive debts onto a cheaper and more manageable rate or 0% APR interest for a time. The difference is that they’re used for different types of debts. A balance transfer card lets you move debt onto it from another credit card or cards, while a money transfer card lets you move debt from your bank account instead – typically to pay off an overdraft.
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.
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