Another record-breaking 0% credit card

Updated: 
Credit cardsCredit card changes from Barclaycard and Tesco mean even better options for those looking to take advantage of an interest-free balance transfer.

First to move was Tesco, which ramped up its 0% period to 28 months on its Clubcard Credit Card for Balance Transfers, which at that point was the longest available. It also cut its balance transfer fee from 3.15% to 2.9%. So for a £2,000 transfer, you'll pay a fee of £58 and won't have to worry about any interest on your balance until March 2016.


However, Barclaycard has not reacted kindly to being displaced from top spot over the last few years, and it duly responded with a market-leading change of its own with the launch of the Platinum 30-Month Visa.

This offers an incredible two and a half years with no interest to pay, and a transfer fee of 2.9%. So for a £2,000 transfer, you'll again pay a fee of £58, but you won't pay any interest until May 2016.

Let's take a look at how the 0% balance transfer best buy table now shapes up:

Credit card

0% period

Balance transfer fee

Barclaycard Platinum 30-Month Visa30 months2.90%

Barclaycard Platinum 28-Month Visa

28 months

2.49%

Tesco Clubcard Credit Card for Balance Transfers

28 months

2.9%

NatWest Platinum MasterCard28 months2.99%

Royal Bank of Scotland Platinum MasterCard

28 months2.99%

Barclaycard 27-Month Freedom Rewards Visa

27 months

2.49%

Halifax 27-Month Balance Transfer MasterCard

27 months

2.5%

MBNA Platinum Visa

27 months2.75%
Fluid 27-Month Balance Transfer Visa27 months2.75%


So Barclaycard boasts three of the top nine cards, but you have plenty of choice if you need more than two years in order to pay off your balance. What's more, there's not a lot in it in terms of the fee you'll pay either, ranging from 2.49% to 2.995.

Pay it off quicker and save!
Of course, if you have a smaller credit card debt you don't necessarily need 30 months in order to clear your balance. So you can save money by going with a card that charges a lower balance transfer fee, in exchange for offering a smaller 0% period.

Below are the best low-fee options:

Credit card

0% period

Balance transfer fee

Fluid Low Fee Visa

12 months

0.75%

Halifax All in One Online MasterCard

15 months

0.8%

Lloyds Bank 15-Month Online Platinum Balance Transfer MasterCard

15 months

0.8%

TSB 15-Month Online Platinum Balance Transfer MasterCard

15 months

0.8%

NatWest Platinum Balance Transfer and Purchase Credit Card

15 months

0.9%

Royal Bank of Scotland Platinum Balance Transfer and Purchase Credit Card

15 months

0.9%

Tesco Bank Clubcard Credit Card with Low Balance Transfer Fee

12 months

0.9%


That's seven cards to choose from that will all charge less than 1% of the balance you're transferring, and offering up to 15 months before you pay any interest. On a £2,000 balance transfer, that's a fee of no more than £18!

But if you want to combine a lower-than-average fee with a lengthy 0% period, Bank of Scotland, Lloyds Bank and TSB all offer Platinum cards that carry a fee of 1.5% yet allow you to sidestep interest for two years!

Just make sure you've given yourself enough time so that you can actually pay off your debt before the interest-free period ends. And don't miss a payment, as your 0% deal will be quickly withdrawn.

Compare 0% balance transfer credit cards and pay off your debts without paying interest