What is a balance transfer credit card?
With a 0% balance transfer credit card you can shift debt from expensive credit and store cards and freeze the interest for a set period - with some deals lasting up to 28 months.
This gives you the chance to pay the debt down faster and save money, as all your repayments will go towards the debt rather than the debt and interest.
For example, a £2,000 debt on a card charging an 21.9% APR that you pay £60 a month towards will take over four years to clear and cost you £2,941. In contrast, a £2,000 debt moved onto a 0% balance transfer card, with the same repayments of £60 a month, will take around 33 months to clear and cost £2,000 - saving you £941.
Here, we reveal the longest-lasting balance transfer cards on the market and the Which? Best Buys plus advice on how to use a balance transfer deal to tackle credit card debt.
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Best 0% balance transfer credit cards
When looking for a 0% balance transfer credit card you should consider the length of the 0% period and the size of the balance transfer fee.
Some cards don't charge a balance transfer fee, but others charge up to 4% for each balance transfer you do, so if you've got multiple cards you want to clear, the costs can add up.
In general, the longer the deal lasts, the higher the fee will be. This means it can be worth avoiding the longest deals if you feel confident that you'll be able to repay the balance within a shorter time frame.
Here are our picks of the best balance transfer deals available if you're simply after the longest-lasting one. We've also awarded Best Buys to the 0% balance transfer credit cards that have no transfer fee and come with a decent 0% period for clearing debt.
Please note that the information in this article is for information purposes only and does not constitute advice. Please refer to the particular terms & conditions of a credit card provider before committing to any financial products.
Longest 0% balance transfer deals
Barclaycard Platinum 28 Month Balance Transfer Visa | 72% | 28 months | 3.45% | £69 | 24.9%. Representative example: assumed borrowing of £1,200 for one year, at a purchase rate of 24.9% (variable), representative 24.9% APR (variable). Credit available subject to status. Terms apply. |
RECOMMENDED PROVIDER Virgin Money 27 Month Balance Transfer Credit Card Mastercard | 75% | 27 months | 3.25% | £65 | 24.9%. Representative example: assumed borrowing of £1,200 for one year, at a purchase rate of 24.9% (variable), representative 24.9% APR (variable). Credit available subject to status. Terms apply. |
MBNA Limited Long 0% Balance Transfer Credit Card Mastercard | 66% | 27 months | 3.49% | £70 | 24.9%. Representative example: assumed borrowing of £1,200 for one year, at a purchase rate of 24.9% (variable), representative 24.9% APR (variable). Credit available subject to status. Terms apply. |
Santander Everyday Long Term Balance Transfer Credit Card Mastercard | 75% | 26 months | 3.00% | £60 | 23.9%. Representative example: assumed borrowing of £1,200 for one year, at a purchase rate of 23.9% (variable), representative 23.9% APR (variable). Credit available subject to status. Terms apply. |
Tables notes:table correct as of 4 April 2024. Cards are ordered by interest-free period, balance transfer fee and then APR. The average provider customer score is 69%. For more information on our research and the terms we use in the table skip to how we analyse credit card providers and deals.
Which? Best Buy 0% balance transfer deals
We've analysed hundreds of balance transfer credit cards to find the best deals. We looked at credit cards that had no balance transfer fee with 0% periods over 12 months, and checked how customers rated the provider. These cards stood out.
best buy NatWest Balance Transfer Credit Card Mastercard | 70% | 13 months | 0% | £0 | 24.9%. Representative example: assumed borrowing of £1,200 for one year, at a purchase rate of 24.9% (variable), representative 24.9% APR (variable). Credit available subject to status. Terms apply |
best buy Royal Bank of Scotland Balance Transfer Credit Card Mastercard | 68% | 13 months | 0% | £0 | 24.9%. Representative example: assumed borrowing of £1,200 for one year, at a purchase rate of 24.9% (variable), representative 24.9% APR (variable). Credit available subject to status. Terms apply |
best buy Barclaycard Platinum 12 Month Balance Transfer Visa | 72% | 12 months | 0% | £0 | 24.9%. Representative example: assumed borrowing of £1,200 for one year, at a purchase rate of 24.9% (variable), representative 24.9% APR (variable). Credit available subject to status. Terms apply |
Tables notes:table correct as of 4 April 2024. The average provider customer score is 69%. For more information on our research and the terms we use in the table skip to how we analyse credit card providers and deals.
- Find out more:best credit card deals
Balance transfer calculator
A simple way to find the best deal for you is to take the total amount you have on your credit cards and store cards and divide this by what you can afford to repay each month. The answer will give you your ideal 0% period, which you can use to help you shop for a card.
So if you had £4,000 worth of debts and could afford to repay £150 a month, you would need a card with a 0% period lasting at least 27 months.
Use the calculator below to quickly find the best 0% balance transfer term for you.
Balance transfer credit card provider reviews
As well as the length of a 0% balance transfer deal and the fee, you should also look into whether the provider offers good customer service.
Which? has rated 31 of the biggest credit card providers to help you understand what they're like for service, mobile banking and more before you apply.
You can see how the big names in the 0% balance transfer market like NatWest , Barclaycard and Tesco Bank stack up in our guide to the best credit card providers.
The companies that combine great deals with top-notch customer satisfaction are awarded our coveted Which? Recommended Provider status.
How to do a credit card balance transfer
When you apply for a 0% balance transfer card you will be asked if you want to move a balance.
At this stage, you can enter the card number of where your existing debt lives and the balance you want to move.
Even if you don't do it then you will be able to do it at a later date. But it's a good idea to shift your balance as soon as possible to ensure you benefit from the full 0% period.
Just watch out for any small print that stipulates you have between 60 and 90 days to complete a transfer after you receive the card to benefit from perks like a reduced balance transfer fee.
How to use a 0% balance transfer credit card to clear debt
Once you have a 0% balance transfer credit card there are a few things to bear in mind to stay on the right track. We've set out the golden rules for you to follow below.
Pay at least the minimum repayment, if not more
It's important to pay at least the minimum repayment on your balance transfer credit card but you should aim to pay back more than this to help clear what you owe.
Most credit card companies reserve the right to withdraw a deal at any time if you miss a payment, meaning you'll be charged interest at their standard rate.
To make sure you stay on target and never miss a payment set up a direct debit to repay the minimum amount or more.
Don't spend on the card
Beware of spending on a balance transfer card, as this can be costly.
Some balance transfer cards offer 0% interest on purchases for a limited time, but the deal periods on these cards tend to be shorter than standalone deals.
Just remember your main aim when taking out a balance transfer is to clear your debt, rather than get into any more.
Set a reminder for the 0% end date
To avoid reverting to the standard interest rate, it's important to repay your balance in full before the 0% introductory balance transfer offer comes to an end.
So, it's worth setting up a direct debit based on the monthly amount needed to repay the debt within the 0% and set a reminder of when the deal ends to give yourself enough time to make other arrangements if you don't manage it.
Shift your debt again
If you do still have outstanding debt at the end of the 0% period, you should consider switching the remainder to a new 0% balance transfer card. Failing that, you should transfer the debt to a card with a lower APR.
Balance transfer credit cards FAQs
Got a burning balance transfer question? Check out if we've covered it in the Q&A below.
A 0% balance transfer credit card may be suitable for those with existing credit or store card debt, who want to cut the cost of the interest and pay off what they owe quicker.
Shifting a balance from one card to another can impact your credit score in both positive and negative ways depending on a range of factors.
Your credit score can take a temporary hit when you apply for a new credit card as part of your rating is linked to the age of your accounts and typically the older the better.
Over the long-term opening a new account can improve your credit history, especially when your credit utilisation - how much of your available credit you are using each month - is low.
So, if you moved a £1,000 balance from a card with a £2,000 limit to one with a £4,000 limit your utilisation would move from 50% to 25%, which makes you look like a better borrower.
It's also important to remember that every time you apply for credit there is a hard search recorded on your report and multiple applications can hit your credit rating.
Doing your research and finding the best deal for you is the key to limiting the impact of this factor on your score.
Once you've transferred your balance to a new card your old card will be cleared giving you the chance to close the account.
Part of your credit score relates to the length of time you leave credit accounts open, and typically the longer you have accounts the better the score, so it can be worth keeping your old account open.
Bear in mind, if you keep the card and don't use it, it will pose a fraud risk and the credit you have on the card may impact affordability calculations for other types of borrowing like for a mortgage.
Ultimately, whether you close the account depends on your goals and ability to avoid temptation.
Credit cards issued by American Express normally have a 15-digit card number rather than a 16-digit card number.
This can cause trouble when shifting debt from an American Express card as online systems struggle to recognise the shorter set of numbers.
In some cases, you just need to phone up your new card company and complete the transfer, but in others, you may not be able to make the transfer, so check the provider is equipped to deal with this issue before applying.
You can transfer part or all of a debt balance from one credit card to a balance transfer credit card.
You won't be able to use a balance transfer deal to shift debt between the same companies.
Luckily there are many providers to choose from so you should be able to find a different firm with a card that can help you.
If the credit limit you get approved for doesn't cover the balance you want to shift you have two choices.
You could move what you can onto the new card and make do or apply for another card in the hope that the provider offers you a larger limit.
Just bear in mind that multiple credit checks could raise alarm bells and could mean you don't get accepted for the deal or get a worse offer.
You should pay off at least the minimum repayment on your 0% balance transfer deal but ideally, you should aim to repay enough each month to clear the debt within the 0% period.
Most cards charge a one-off transfer fee of up to 3.5% which applies on the debt you are trying to shift.
This doesn't have to be paid upfront, but is added to your overall debt balance and will remain interest-free for as long as your deal lasts.
You can transfer a balance that was previously a balance transfer so long as you have an available credit limit or a new card that can absorb it.
You can use your balance transfer credit card to make new purchases as long as you have an available credit limit on your card.
However, bear in mind that new purchases aren't likely to be interest-free and will attract interest at the standard rate, which defeats the purpose of a 0% balance transfer deal.
The length of the promotional offers made available to you will usually be based on your personal circ*mstances.
Those with a lower credit rating may be offered a shorter amount of time to pay off their debt interest-free.
Some providers offer a 'soft search' which means you can check if you will be eligible for a deal without going through the process of applying and leaving a mark on your credit history.
Some people go from one 0% card to another when the interest-free period expires to avoid paying any interest. However, being able to do this will depend on your credit history.
It's also worth remembering that making multiple credit applications within a short space of time can have an impact on your credit rating.
You can put your question to our experts. Email us using money-letters@which.co.uk.
How we analyse credit cards
Sam Wilson, credit card market analyst, says: 'At Which? we put credit card products and providers under the microscope to help you save time when shopping around for a new deal.
'We run a survey each year to gather the experiences of customers to help us find the best providers and we keep a close eye on the credit card market to determine which deals are the best in their category.'
Here's some more information about our research and the terms we use in this guide.
Customer scores
Our provider customer scores are based on an online survey of 3,775 members of the public, conducted in October 2023.
Provider customer scores are worked out using a combination of overall satisfaction and the likelihood of recommending the provider to a friend.
Which? Recommended Providers
We award Which? Recommended Providers to the lenders that meet our benchmarks on customer service and product offering.
To become a Which? Recommended Providers a lender must have:
- a provider score of at least 75%;
- at least one top-10 card in one of the seven main categories available on the market;
- a product score that's average or above;
- and not have a representative APR of more than 33% on any of its mainstream cards at the time of the analysis.
Which? Best Buys
A credit card product must have been one of the top five cards in its category and must also satisfy specific criteria for the type of card such as the size of the balance transfer fee or length of 0% period to become a Best Buy.
A provider must have also achieved a provider customer score of over 65% in our latest credit card satisfaction survey.
We also update our analysis regularly, which means we will withdraw Best Buys if providers make adverse changes to APRs, 0% periods or fees.
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Why should you trust Which? research?
We’re not influenced by third parties. We work entirely on behalf of you, the consumer – nobody else. See our statement of editorial independence for more.
