Battle for top 0% balance transfer card hots up

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credit cards stack on white
credit cards stack on white



Competition in the 0% balance transfer credit card market is heating up once again, with Barclaycard fighting back against new deals from Halifax, Bank of Scotland and Lloyds Bank.

On Thursday Halifax, Bank of Scotland and Lloyds each came out with new 35-month 0% credit cards.

The most competitive was the 35-month deal launched by Halifax as it offered a 2.8% fee on balance transfers, compared to 3% from the Bank of Scotland and Lloyds cards.

However, the next day Barclaycard responded by extending the 0% deals on its two of its cards offering the longest interest-free periods. Let's take a look at how the best buy table now looks.

Credit card

0% period on balance transfers

Balance transfer fee

Cost of transferring £2,000 balance

Representative APR

Barclaycard 36-Month Platinum Visa

36 months

2.99%

£59.80

18.9%

Virgin Money Balance Transfer Credit Card

36 months

3.49%

£69.80

18.9%

Barclaycard 35-Month Platinum Visa

35 months

2.79%

£55.80

18.9%

Halifax 35-Month Balance Transfer Credit Card

35 months

2.8%

£56

18.9%

Lloyds Bank Platinum 35-Month Balance Transfer Credit Card

35 months

3%

£60

18.9%

Bank of Scotland Platinum 35-Month Balance Transfer Credit Card

35 months

3%

£60

18.9%

Tesco Bank Clubcard 34-Month Balance Transfer Credit Card

34 months

2.90%

£58

18.9%

HSBC Credit Card

34 months

3.3%

£66

18.9%

Cheaper balance transfers

If you think you can cope with a shorter 0% period in order to clear your debt, you can enjoy a smaller balance transfer fee or even a fee-free deal.

Credit card

0% period on balance transfers

Balance transfer fee

Fee paid on £2,000 transfer

Representative APR after 0% period ends

Santander 123 Credit Card*

23 months

None

£0

16.5%

Santander Credit Card

15 months

None

£0

18.9%

Halifax 0% Balance Transfer Fee Offer MasterCard

13 months

None

£0

18.9%

Tesco Clubcard with No Balance Transfer Fee

12 months

None

£0

18.9%

Nationwide Select Low Balance Transfer Fee Credit Card**

15 months

0.25%

£5

15.9%

Nationwide Low Balance Transfer Fee Credit Card

15 months

0.35%

£7

17.9%

Post Office Platinum Credit Card

18 months

0.79%

£15.80

17.8%

Halifax All in One Credit Card

19 months

1%

£20

18.9%

Virgin Money Balance Transfer Credit Card

26 months

1.25%

£25

18.9%

Bank of Scotland Platinum Balance Transfer Credit Card

28 months

1.50%

£30

18.9%

Halifax Platinum Balance Transfer Credit Card

28 months

1.50%

£30

18.9%

Lloyds Bank Platinum Balance Transfer Credit Card

28 months

1.50%

£30

18.9%

* £24 annual fee

**Nationwide current account customers only

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