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A balance transfer credit card lets you move existing credit card debt to a new card – usually with a lower interest rate, or even 0% interest for a set period.

Balance transfer cards typically offer a 0% interest period that lasts anywhere from 6 to 29 months, though some deals can be as long as 38 months. This can help you save money, as more of your repayments will go toward reducing your debt rather than paying interest, making it easier to clear your balance faster.

Just be aware that most balance transfer cards charge a transfer fee, and once the 0% period ends, any remaining balance will start accruing interest at the standard rate.

A balance transfer credit card lets you move debt from one or more existing credit cards to a new card, usually with a 0% interest period.

Example:

  • You have £4,500 on your current credit card and are paying interest each month.

  • You transfer the balance to a card offering 24 months at 0% interest.

  • A balance transfer fee of 3% applies.

  • After the 0% period, a standard APR of 19.9% would apply.

  • During the interest-free period, you can focus repayments on reducing your debt, helping you pay it off faster.

Note: This is just an example. Actual terms, fees, and interest rates vary between providers, so check the details before applying.

How to transfer a credit card balance in four steps

Find out what you owe

Add up the balances on all your credit cards, including interest rates and any fees. Many balance transfer cards let you move debt from multiple cards, so knowing your total helps you choose the right deal and plan repayments during the 0% interest period.

Compare balance transfer credit cards

Once you know how much you owe, you can compare cards to see which ones allow you to move some or all of your debt. Use our eligibility checker, in partnership with Experian, to find out which credit cards you’re most likely to be accepted for. When comparing deals, look at the length of the 0% interest period, balance transfer fees, and the standard APR after the introductory period. This will help you choose a card that fits your repayment plan.

Apply for the card that suits you best

Online applications often give an instant decision, while phone, post, or in-branch applications can take up to 10 days. Have your personal and financial information ready, including income and existing debts, to help the provider assess your application quickly. If approved, you’ll receive your card and instructions for transferring your balance. If declined, you may be able to reapply once your credit profile improves.

Initiate the balance transfer

Once your application has been accepted, you’ll need to request the balance transfer with your new card provider. This usually happens through your online banking, app, or by providing the details of the card you want to transfer from. Most providers require you to do this within the first 60-90 days to qualify for the 0% rate. After the transfer is complete, your old card balance will be paid off by your new provider, and you can start making repayments on your new balance transfer card.

What type of balance transfer card is best for you?

The best balance transfer credit card for you will depend on your credit score and overall finances. When comparing deals, consider the following:

  • Interest-free period: This is the introductory window where no interest is charged on your transferred balance. A longer 0% period gives you more time to repay your debt without interest, which can make monthly payments more manageable.

  • Balance transfer fees: Many cards charge a fee to move your balance, usually of up to 3.5% of the amount transferred. This fee is added to your new card balance, so factor it into the total cost.

  • Purchases and interest: Some balance transfer cards charge interest on new purchases straight away – they don’t always include a 0% purchase offer. If you plan to use the card for spending as well as transferring a balance, check the purchase rate and whether a separate interest-free purchase period is included.

  • Card providers: You usually can’t transfer a balance between cards from the same provider or banking group. For example, if you hold a NatWest credit card, you won’t be able to transfer the balance to a NatWest or RBS balance transfer card.

  • Check eligibility first: Use a credit check tool (like Experian) before applying. It won’t hurt your score and shows how likely you are to be accepted.

  • Transfer quickly: Most cards only offer the 0% rate on balances transferred within the first few weeks after account opening. Don’t miss this window.

  • Balance period vs. fees: A longer 0% period isn’t always better. Compare the transfer fee to the interest you could save, and choose a card that fits your repayment plan.

Even with the right balance transfer card, managing debt can sometimes feel challenging. If you’re struggling to keep up with payments, don’t be afraid to ask for help.

There are several independent services that provide free advice. These services can help you manage debts and make sure you’re receiving all the benefits you’re entitled to, such as tax credits, which could help boost your income and support repayments.

StepChange

StepChange is a charity providing advice on budgeting and debt management. They have a helpline offering free, independent support.

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Balance transfer credit cards FAQs

About the author

Lucinda O'Brien profileLucinda O'Brien
Lucinda O'Brien has spent the past 10 years writing and editing content for regional and national titles. She applies her industry knowledge to ensure readers can make confident financial decisions.

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Applying for and using a balance transfer credit card can affect your credit score in several ways, both in the short term and the long term.

1. Hard credit check (application stage)

When you apply for a new card, the provider will perform a hard credit check to assess your eligibility. This is recorded on your credit file and can cause a small, temporary dip in your score. Scores often recover within a few months if you maintain good credit habits.

2. Changes to your credit utilisation

Credit utilisation is the proportion of your available credit that you’re using. Transferring balances to a new card can temporarily change your utilisation:

  • If your new card increases your total available credit, your overall utilisation may decrease, which can have a positive effect on your score.

  • However, if you transfer a large balance and max out your new card, your utilisation may stay high, which can negatively impact your score.

3. New credit account on your file

Opening a new card adds a new account to your credit history. A new account may slightly lower your score initially, but over time, responsible use will help build your credit history.

4. Impact of repayment behaviour

Your behaviour with the balance transfer card matters:

  • Making repayments on time will support your credit score.

  • Missing payments can lead to fees, higher interest, and a negative mark on your credit file, which can significantly lower your score.