Credit Card / Balance Transfer

Could a 0% balance transfer credit card give you some financial breathing space?

If you find you’re struggling to make much of an inroad on your credit card balance due to the high interest costs, it may be worth considering transferring your balance to a new card, and getting your finances on a better footing during 2024.

There are many cards on the market offering 0% interest on balances switched from your existing plastic which can save you a small fortune in charges and help you repay your balance much sooner.

Even though introductory terms have been falling, the longest 0% offers are currently in excess of 27 months – so that’s more than two years with no credit card interest charges to worry about.

You’ll find there is a one off balance transfer fee to pay to your new credit card company when making the switch, this is typically around 3% – 4% of the amount transferred for the longest 0% offers, but as you’ll see from the examples below, a shorter 0% period often comes with a lower balance transfer fee.

Please be aware you will need a pretty decent credit record to be accepted for these best buy credit card deals.

These are some of the best deals currently on offer (10th April 2024)

  • Barclaycard – 28 months at 0% with 3.45% balance transfer fee
  • Virgin Money – 27 months at 0% with 3.25% balance transfer fee
  • M&S Bank – 26 months at 0% with 3.49% balance transfer fee
  • NatWest – 13 months at 0% with a zero balance transfer fee – more info

Check all the latest credit card deals here

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