If you carry a balance on a high-interest credit card, a 0% balance transfer card is one of the most powerful debt-clearing tools available. Move existing debt to the new card and pay no interest for the promotional period — often 12-29 months.
How Balance Transfers Work
A balance transfer moves your existing credit card debt to a new card with a 0% interest promotional period. You pay a one-time transfer fee (typically 1-4%), then make monthly repayments at 0% interest. If you clear the balance before the period ends, you pay zero interest.
- Transfer fee: typically 1-4% of amount transferred
- 0% period: typically 12-29 months
- Must make minimum monthly payments throughout
- After 0% period: remaining balance attracts standard APR (often 24-29%)
- Cannot transfer debt between cards from the same provider
What if I'm rejected for the longest 0% card?
Apply for a shorter-period card more likely to be approved. A 0% deal for 12 months is still vastly better than 29% APR. Use soft search eligibility tools before applying.
Best Balance Transfer Cards 2026
Balance transfer offers change frequently. Always check MoneySavingExpert's comparison for current best buys. In 2026, typical leading offers from Barclaycard, Sainsbury's Bank, and Virgin Money provide long 0% periods.
- Check moneysavingexpert.com/credit-cards/balance-transfer for current deals
- Look for: longest 0% period with lowest fee
- Use eligibility checkers first — soft search, won't hurt your credit
- Typical 2026 range: 12-29 months at 0%
- Fee range: 0-4.9%
The Rule: Divide and Conquer
Divide the total balance by the number of months in the 0% period. That's your target monthly repayment. Stick to it and you'll be debt-free before the promotional rate expires.
- Example: £3,000 on 24-month 0% card = £125/month
- Set up a direct debit for the exact amount
- Never use the balance transfer card for new purchases
- Get a separate spending card if needed
- Cancel the card once cleared
Common Mistakes to Avoid
Using the card for new purchases, missing a minimum payment (can void 0% deal), and not planning for the end of the 0% period are the key traps.
- Don't use the balance transfer card for new spending
- Never miss a minimum payment
- Set a calendar alert 2 months before 0% expiry
- If you can't clear before expiry, apply for another transfer
- The transfer fee is still worth it — compare total interest saved vs fee
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