Skip to content
Did you know your browser is out of date?
To get the best experience when using our website we recommend that you upgrade to the latest version of one of these browsers.

No-fee balance transfer credit cards

Compare no-fee and low-fee balance transfer credit cards

  • See the cards you’re most likely to get
  • Searching won’t harm your credit score
  • Compare no-fee and low-fee options

What is a no-fee balance-transfer card?

A no-fee balance transfer card lets you transfer a balance from an existing credit card or store card to a new credit card without paying a fee – which would typically be around 3% of the total transfer amount for a standard balance transfer card.

Transferring a balance to a new card lets you take advantage of lower interest rates, consolidating existing card debts and reducing monthly repayments.

In some cases a no-fee balance transfer card will offer 0% interest on your debt balance for a time, typically between six months and two years.

balance transfer illustration

Which credit card providers do we work with?

MoneySuperMarket works with a range of household-name credit card providers, including

company logo for Amexcompany logo for Tesco bankcompany logo for Santandercompany logo for Sainsbury's bankcompany logo for MBNAcompany logo for barclayscompany logo for Virgin money

How do no-fee balance transfer credit cards work?

No-fee and low-fee balance transfer cards allow you to move existing card balances to a lower interest rate, with no fee - or a low fee to transfer a balance. Lenders offer no-fee and low-fee deals to entice new customers. Transferring a balance is quick and simple:

one

Choose which balances to transfer

Once you’ve got your new credit card decide which existing card debts you want to transfer

two

Inform your card provider

Log into your card account and select which cards and how much debt balance you want to transfer

three

The transfer is automatic

Your new provider will submit a transfer request on your behalf

four

Pay it all off at a lower APR

Once the transfer goes through you’ll have a set period of time to pay it off at low interest

Am I eligible for a low-fee or fee-free balance transfer card?

To be eligible for a fee-free balance transfer credit card you need to be at least 18 years old, resident in the UK and have an income of at least £8,000 (in most cases). However, acceptance will depend mainly on your credit history and your credit score. The higher your score the more chance you’ll be offered the card you want – and the better the interest rate and credit limit.

If your credit score isn’t quite good enough to get a no-fee card you may still be eligible for a low-fee balance transfer credit card. This should only charge around 1% to 2% of the total transfer amount.

There are various types of credit card available if you have bad credit. You may be eligible for a balance transfer card with transfer fees, or you may have to consider alternative cards, such as credit builder.

balance transfer illustration

With a pre-approved credit card, the deal you see is what you get

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’ll know where you stand, with information that will help you make the right choice.

question set image

Apply with confidence

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

chance of approval image

Tailored to you

You’ll see your personalised chance of approval for all credit cards, so you can easily compare your options

Credit Monitor image

You’re in safe hands

This helps protect your credit score as you’re less likely to be rejected when you apply

Advantages and disadvantages of no-fee balance transfer cards

Low-fee and no-fee balance transfer cards can be very helpful, but they’re not useful for every credit card customer. These are the main advantages and disadvantages: 

  • Tick icon

    Advantages

    • Avoid annoying fees for transferring your debts
    • Pay off your other credit card debts cheaply
    • A great way to reduce monthly repayments
  • cross icon

    Disadvantages

    • There’s usually higher interest on purchases
    • You can’t transfer between cards from the same lender
    • Your APR will rise sharply once the 0% period ends

How to compare no-fee balance transfer credit cards

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 are most likely to approve you.

question set image

Apply with confidence

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

chance of approval image

Tailored to you

You’ll see your personalised chance of approval for all credit cards, so you can easily compare your options

Credit Monitor image

You’re in safe hands

This helps protect your credit score as you’re less likely to be rejected when you apply

While you can use zero-fee balance transfer cards for making purchases their main use is to transfer balances between 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 to then use in cash or with your debit card. You will usually have to pay a fee for this.

 

After the fee-free period ends you’ll no longer be able to transfer any balances without paying a fee. The fee is usually between about 1% and 5% of the total transfer sum. 

Most balance transfer credit cards have a limited window for transferring balances and after that time ends 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 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 lower your credit score in the short term.

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.

Can't find what you're looking for? Try looking at our news, views and in-depth credit cards guides

Credit card guides - Credit card news - See all guides

Credit card companies

American Express - Aqua - Asda - Bank of Scotland - Barclaycard - Capital One - Fluid - Halifax - HSBC - John Lewis - Lloyds Bank - M&S - MasterCard - MBNA - Nationwide - Ocean Finance - Post Office - Sainsbury's - Santander - Tandem - Tesco - TSB - Vanquis - Virgin - Visa - 118 118 Money

MoneySuperMarket gives you lots of clever ways to save a lot, by doing very little.

  • Take control of your credit score by checking and improving it for free with Credit Monitor 
  • Never overpay again with Energy Monitor, our energy monitoring service 
  • Over 50 ways to Get Money Calm

So how do we make our money? In a nutshell, when you use us to buy a product, we get a reward from the company you’re buying from.

But you might have other questions. Do we provide access to all the companies operating in a given market? Do we have commercial relationships or ownership ties that might make us feature one company above another?

We commit to providing you with clear and informative answers on all points such as this, so we have gathered the relevant information on this page.