Credit Cards - Balance Transfer
| Provider | Typical APR (%) | Balance Transfer | Transfer Duration | Purchase APR (%) | 0% Duration | Apply Now |
HSBC Cardwww.hsbc.co.uk |
4.9% | 2.9% | 24 month(s) |
0% | 12 month(s) |
|
MBNA FA Card |
15.9% | 0% | 12 month(s) |
0% | 3 month(s) |
|
Natwest Gold Card |
13.9% | 0% | 13 month(s) |
0% | 3 month(s) |
|
Natwest Platinum Card |
13.9% | 0% | 13 month(s) |
0% | 3 month(s) |
|
MBNA BMI Card |
15.9% | 0% | 12 month(s) |
0% | 3 month(s) |
|
Natwest Classic Card |
13.9% | 0% | 13 month(s) |
0% | 3 month(s) |
|
Goldfish Cardwww.goldfish.com |
12.9% | 4.9% | 36 month(s) |
n/a | n/a |
|
Natwest Student Card |
18.9% | 0% | 13 month(s) |
0% | 3 month(s) |
|
Co-op Card |
14% | 7% | 6 month(s) |
n/a | n/a |
|
Egg Accept Card |
16.9% | 0% | 14 month(s) |
0% | 3 month(s) |
|
MBNA Sony Card |
15.9% | 0% | 12 month(s) |
0% | 3 month(s) |
|
Virgin Money Virgin Card |
15.9% | 0% | 15 month(s) |
0% | 3 month(s) |
|
MBNA WWF Card |
15.9% | 0% | 12 month(s) |
0% | 3 month(s) |
|
This type of credit card is particularly good if you are paying high amounts of interest each month on store cards or credit cards as you can quickly address the balance of the amount you owe rather than concentrating on the interest. So in other words you can reduce the amount you owe quite considerably in a short space of time.
There are people who will switch their balance from one credit card to another when the introductory offer period has expired, and there is nothing wrong with this technique but it does involve work to source another 0% balance transfer deal and then to arrange the transfer, so it may be worth looking at the level of interest charged to the card when the initial offer ends.
Most credit card providers will charge a handling fee at approximately 2-4% of the balance you transfer and you will need to factor this cost in with your calculations before you transfer the balances over. Another point to consider is if you need to make a purchase with a credit card, that it may be better for you to get a credit card with 0% interest charged on purchases rather than making transactions on the balance transfer card as you may be charged at a high rate. Again please read the information of the balance transfer card before applying.