Battle for balance transfer credit card top spot

lovemoney.com
Battle for balance transfer credit card top spot
Battle for balance transfer credit card top spot



There is a battle for top spot going on in the balance transfer best buy tables.

Halifax raced into top spot by launching a 36-month 0% balance transfer card with a smaller transfer fee than its rivals.

However, Barclaycard has now reacted by slashing the transfer fees on its top balance transfer cards.

Here's what the new best buy table looks like:

Credit card

0% period on balance transfers

Balance transfer fee

Cost of transferring £2,000 balance

Representative APR

Barclaycard 36 Month Balance Transfer Visa

36 months

2.49%*

£49.80

18.9%

Halifax 36 Month Balance Transfer Card

36 months

2.9%

£58

18.9%

Virgin 36 Month Balance Transfer Credit Card MasterCard

36 months

2.99%

£59.80

18.9%

Barclaycard 35 Month Balance Transfer Visa

35 months

2.39%*

£47.80

18.9%

Tesco Bank Clubcard Credit Card for Balance Transfer MasterCard

35 months

2.7%

£54

18.9%

MBNA Platinum 35 Month Balance Transfer MasterCard

35 months

2.79%

£55.80

18.9%

Lloyds Bank Online Platinum 35 Month Balance Transfer MasterCard

35 months

3%

£60

18.9%

Bank of Scotland Platinum 35 Month Balance Transfer Credit Card

35 months

3%

£60

18.9%

Fluid 35 Month Balance Transfer Credit Card

35 months

3.1%

£62

18.9%


*Initial fee of 3.5% charged, then portion refunded

If you're happy with a shorter 0% period, you can get a much lower balance transfer fee. In fact some cards don't charge a transfer fee at all!

Check your credit rating

Unfortunately, providers only need to give the advertised rates to 51% of successful applicants. If you have a less-than-perfect credit history, you may be offered a different rate. If you want to improve your rating, take a look at How to build and excellent credit history.

And of course, make sure you stay within your credit limit and can make the minimum repayment each month or the 0% offer may be withdrawn.

Compare more credit cards


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