Barclaycard and Tesco battle to offer longest 0% balance transfer

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Tesco
Tesco

The battle to top the 0% balance transfer credit card best buy table continues.

First, Tesco extended the interest-free period on its Clubcard Credit Card for Balance Transfers from 25 months to 27 months. That put it at the top of the table due to its balance transfer fee of 3.15%. A short while later, Barclaycard responded by cutting the balance transfer fee on its 27-Month Platinum card from 3.5% to 2.9%.

Let's have a look at how this changes the overall 0% balance transfer best buy table.

Credit card

0% period

Balance transfer fee

Cost of transferring £2,000 debt

Representative APR when 0% period ends

Barclaycard 27-Month Platinum Visa

27 months

2.9%

£58

18.9%

Tesco Clubcard Credit Card for Balance Transfers

27 months

3.15%

£63

16.9%

Nationwide Select credit card

26 months

2.4%

£48

15.9%

Nationwide Credit Card

26 months

2.4%

£48

17.9%

NatWest Platinum MasterCard

26 months

2.65%

£53

18.9%

RBS Platinum MasterCard

26 months

2.65%

£53

18.9%

Fluid 26-Month Balance Transfer Visa

26 months

2.89%

£57.80

18.9%

Barclaycard 26-Month Platinum Visa

26 months

2.9%

£58

18.9%

Virgin Money MasterCard

26 months

2.99%

£59.80

17.9%

Halifax 25-Month Balance Transfer Card

25 months

2%

£40

18.9%


The longest isn't necessarily the cheapest
While Barclaycard and Tesco both offer cards with 0% to pay for 27 months, their slightly higher balance transfer fees mean you could save a bit of money by opting for a card with a shorter interest-free period.

For example, the Halifax 25-Month card has a 25-month 0% period, but only charges a 2% fee. As you can see from the table, if you were transferring £2,000 and opted for this instead of the market leaders it would save you up to £30.

Compare all our top 0% balance transfer credit cards

A few words of warning
You shouldn't go for a shorter 0% period just to save a relatively small amount of money if you think that means you'll end up with debt still to pay once the interest-free term ends.

You must make the minimum repayment on these cards each month or your 0% period could be withdrawn.

And all of the cards featured in this article are only available to people with good credit ratings. If yours could do with some improving, have a read of How to build an excellent credit history.

Compare top credit cards

This article has been updated since its original publication date

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