Balance transfer credit cards

A balance transfer is when you move a credit card balance from one credit card provider to another. This type of offer could help reduce your monthly credit card payments, or clear your debt quicker.

A 0% balance transfer credit card is one that offers a 0% interest rate on balances, usually for a set period of time. If you're paying interest on other credit cards or store cards, you could save money by transferring your balance to one of our balance transfer credit cards.

If you're paying interest on other credit cards or store cards, a 0% balance transfer credit card could help you save money by reducing your monthly credit card payments or help clear your debt quicker. But it’s important to note that there may be a fee to transfer a balance and you should consider the costs you will pay when any introductory offer expires.

If you have a balance on a credit card and you want to get an indication of how long it will take you to repay the balance, you could use our credit card repayment calculator.

A balance transfer fee is typically a fee that’s charged when you transfer credit card debt from one card to another. The fee is charged by the credit card provider you transfer the balance to and is usually a percentage of the total amount you transfer. Balance transfer fees are applied per transfer and are mostly applied to the balance up front when it is transferred.

A balance transfer is when you move a credit card balance from one credit card or store card provider to another. Whereas a money transfer is when you use a credit card to transfer money directly into your bank account. It’s important to note that there is often a fee attached to these processes, typically a percentage of the amount you are transferring.

If you're looking to borrow money, it can be tricky deciding which type of lending best suits your needs. So, we've summarised the options for you to easily compare and contrast.

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Credit scores are based on lots of factors, such as the amount of credit you hold, the average age of accounts, and the number of inquiries on your credit report.

When you apply for any type of credit, it will impact your credit score as a credit check is performed as part of the application.

A balance transfer could help with managing debt, but it could also affect your credit score if certain factors change on your credit file as a result of transferring a balance. If a balance transfer helps you pay back your outstanding debt quicker, and you don’t add to it, your credit score could improve over time.

Take a look at our credit scoring guide