It’s for transferring your existing credit card balance
Balance transfer cards let you transfer your existing credit card debt onto the new one.
They usually come with 0% interest periods
The 0% interest period means you won’t start building up interest on any of the balance you carry over. It can last anywhere between 6 months and 2 years.
You might be able to use them for other types of debt
Balance transfer cards are usually meant for credit card debt, but depending on the provider, you might also use them for other types of debt.
You can transfer your credit card balance in a few easy steps.
Tell the new lender you want to transfer the balance
You can usually do this online by logging into your bank account. Some lenders will charge you a fee for the transfer.
Wait for the transfer
It should take a couple of days. Keep an eye on your existing payment schedule in case you need to make a repayment while you wait.
Start paying off your balance
When the transfer is complete, you can start paying off the balance in line with the new terms.
Remember
– you still need to make the minimum monthly repayments and keep an eye on the 0% interest period. When it ends, you’ll need to pay interest on any balance you carry over month to month.
You can apply for a balance transfer card in the same way you’d apply for any credit card.
Compare your offers
The offers you’ll see are tailored to you. We’ll ask you for some information to understand what you’re looking for and show you the balance transfer credit cards you’re likely to be eligible for.
Look for the Triple Lock Guarantee
If you see 3 green ticks, it means your offer is pre-approved, and comes with a locked-in credit limit and interest rate. Helping you plan ahead and take control of your finances.*
Apply for your credit card
We’ll show your approval chances when you search for a credit card – saving you time and effort.
You might have to give the lender some more information and then they’ll carry out a
Things to remember before getting a balance transfer card
When the 0% interest period ends
As soon as the 0% interest period is over, you’ll need to start paying interest on any balance you carry over on a monthly basis.
What the balance transfer fee is
Some cards will come with a transfer fee. Work out if the amount you’ll save on interest is more than the amount you’d pay with the balance transfer fee.
That the 0% interest period is subject to terms
Missing a payment or making a late payment can mean losing the promotional offer. If that happens, you’ll need to start paying interest.
Whether you’re adding a new account, removing an old one, or just changing how much credit you use – you’ll find it here.
Take a closer look at your accounts
We’ll show you whenever they've been opened or updated over the past 7 years. You can even see how much of your available credit you’ve used and what the loan balance is. Everything you need, all in one place.
Save time when looking for your next offer
Your offers are personalised to you. And we’ll show your approval chance so you can feel confident about applying.
The 0% interest period could last anywhere between 6 months and 2 years. It depends on the lender, type of card, and your credit score and history.
When the 0% interest period is over, you’ll start paying interest on any balance you carry over every month. Remember, missed or late payments can mean losing the 0% interest promotion before its original end date.
Taking out any credit card can impact your credit score. The lender will carry out a
against your credit report. It’s common for a hard search to affect your credit score but, as long as you borrow responsibly, the impact should be short-term.
A money transfer card is useful if you want to transfer money from a credit card into your bank account – to pay off an overdraft, for example. It’s a different type of card to a balance transfer card. There’s usually a fee to transfer money or your balance.
You can apply for a balance transfer card if you meet the minimum requirements – like being a UK resident and over 18 years old – but the offers you see will depend on your
lets you press pause on paying interest. That means you can use it for something like your everyday spending or to do a balance transfer, without paying the interest on the balance you carry over every month.
are designed for large purchases. You’ll be able to spread the cost over a few months – and the 0% interest period means you could save money on interest.
let you earn things like cashback, points or air miles when you make certain transactions. The interest rates can be high and some rewards cards also come with a monthly or annual fee.
help you build your credit score. The interest rates can be high and the credit limit low, but you could see your score improve if you keep up with the monthly repayments.