With 15% more balance transfer cards available compared to a year ago, according to Moneyfacts, now is a good time to reassess if you pay interest on a credit card, as it may be one way to arrest the soaring cost of bills, as many save £100s per year. With one, your new card pays off the balance on old cards (subject to the credit limit being high enough) with no interest cost for many months.
We’ve listed some of the top balance transfer cards below but it’s best to use the balance transfer card eligibility checker from our sister brand GoCompare first, to see if you’re likely to qualify for them.
Therefore, the links below go to that eligibility checker (just select 0% interest on balance transfers from the drop down menu when you get to it).
Longest 0% periods
Virgin Money | up to 34 months’ interest free | Fee: 2.7% | 21.9% rep APR
Sainsbury’s | up to 33 months’ interest free | Fee: 2.48% | 21.9% rep APR
Longest period with no transfer fee
Sainsbury’s | up to 22 months’ interest free | 21.9% rep APR
Santander | up to 26 months’ interest free | 24.7% rep APR
If you get a 0% interest balance transfer card, always pay off the minimum amount each month and don’t spend on it. Aim to clear it before the 0% period ends, as interest payments will shoot up after.
If accepted, the actual 0% period you get can depend on your circumstances, while fees mentioned are a percentage of the amount transferred.
Use our balance transfer eligibility checker.
