Find the best credit card balance transfer deals

If you've built up an ongoing debt on your existing credit card at the standard APR, which may be up to 30% on store cards!, then transferring your balance to another credit card could save you a lot on money in interest charges. 

Introductory balance transfer rates and long term deals are plentiful, including many 0% balance transfer offers.


What is a credit card balance transfer?

Transferring a balance sounds complicated, but is actually very simple. To transfer a balance to a card, just tell your new card provider where you want to move the debt from, and it pays it off for you, so then you owe the new card the money instead. Switching is very straightforward.

How to choose the best option for you

In deciding which offer is right you need to decide whether you can you pay off the debt you transfer within the introductory period provided by your new card. If you don't envisage paying off the debt within this timescale are you willing and able to change cards again when the intro rate expires? By continually moving the remaining balance every 6 months or so to a new card (this is subject to you having a good credit score) you will continue to to benefit from the zero percent interest rates.

If this answer to either question above is yes, then select a card which offers the 0% rate for the longest period possible. If the answer to both questions is no, then select a a card with a ‘life of balance offer’.

Life of Balance Deals

For people who don’t want to repeatedly switch you should use ‘life of balance’ transfers. This is where the special balance transfer rate lasts until the entire balance transferred is paid off. At present Capital One offer the most competitive life balance rate of 3.9% APR for new cardholders of their platinum card.  In order to qualify applicants annual income needs only to be £10,000 or above. This is the lowest ever 'no strings attached - available to all' life of balance offer and really good deal. 


Find the right deal for you  

Use our credit card comparison tool to compare the rates from over 300 UK credit cards. For the latest balance transfer offers view our best deals section.