It is estimated that one third of credit card holders fail to pay off their balances in full each month.
These people could save themselves a small fortune by regularly switching to a 0% deal,
especially as there are now a number of 0% balance transfer credit card deals
on offer. We provide a summary of some of the leading balance
transfer rates on offer below. You can see at a glance who
offers the longest 0% intro period for transferring a card balance.
It is estimated that if everyone switched their credit cards to another provider, more than £2 billion a year could be saved in all.
If you're intending to shift your debt, do your sums
carefully as you may not save as much as you'd hoped. Card
companies have recently introduced balance transfer fees,
so you might find that a credit card with a life of
balance rate would save you more.
Below is a summary of the best balance deals currently available in
the UK.
Credit Card Click card for more details or to apply |
Promotional Rate for Balance Transfers (Balance transfer fee rates in brackets) |
Promotional Rate for Purchases |
Cashback |
Typical APR (variable) |
|
Virgin
|
0% for 16 months (2.98%) |
0% for 3 months |
Virgin cardholders can take advantage of exclusive instant discounts with money off holidays, wine, music, gym membership, DVDs and insurance |
16.6% |
|
|
|
RBS Platinum
|
0% for 15 months (2.9% - min £5) |
0% for 3 months |
- |
16.9% |
|
|
|
NatWest Platinum
|
0% for 15 months (2.9% - min £5) |
0% for 3 months |
- |
16.9% |
|
|
 |
HSBC Bank
|
0% for 15 months (2.9% - min £5) |
0% for 3 months |
- |
16.9% |
|
|
|
Egg
|
0% until March 2011 (3%) |
0% until April 2010 |
Up to 10% cash back at selected online retailers |
16.9% |
|
|
|
MBNA Rewards
|
0% for 13 months (2.9% - min £3) |
0% for 3 months |
Collect 1 reward point for every £1 spent. Reward points can be redeemed for travel and entertainment offers or high street vouchers |
16.9% |
|
|
|
MBNA Platinum Plus
|
0% for 13 months (2.9%) |
0% for 3 months |
- |
16.9% |
|
|
|
Sony Card
|
0% for 12 months (3% - min £3) |
0% for 3 months |
Collect SonyCard Pulsebeats towards Sony products |
15.9% |
|
|
|
RSPCA Platinum
|
0% for 12 months (3% - min £3) |
0% for 3 months |
- |
15.9% |
|
|
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Dogs Trust
|
0% for 12 months (3% - min £3) |
0% for 3 months |
- |
15.9% |
|
|
|
WWF Charity
|
0% for 12 months (3% - min £3) |
0% for 3 months |
- |
15.9% |
|
|
|
Breakthrough Breast Cancer Charity
|
0% for 12 months (3% - min £3) |
0% for 3 months |
- |
15.9% |
|
|
|
National Trust Charity
|
0% for 12 months (3% - min £3) |
0% for 3 months |
- |
15.9% |
|
|
|
AA Credit Card
|
0% for 12 months (3% - min £3) |
0% on motoring, fuel and AA purchases for 12 months |
Collect AA Rewards Points and exchange them for a range of motoring products and services |
16.9% |
|
|
|
Halifax All In One
|
0% for 9 months (3% - min £3) |
0% for 9 months |
- |
15.9% |
|
|
|
Bank of Scotland All In One
|
0% for 9 months (3% - min £3) |
0% for 9 months |
- |
15.9% |
|
|
|
Capital One Progress
|
- |
34.9% |
- |
34.9% |
|
|
 |
British Airways American Express
|
- |
19.9% |
Earn 1 BA Mile for virtually every £1 you spend. BA Miles can be redeemed for flights on British Airways mainline services |
19.9% |
|
|
g(18460802)a(1663972)) |
MBNA Rate for Life
|
5.9% for the life of the balance (2% - min £3) |
16.9% |
- |
16.9% |
|
|
|
Capital One Plus
|
14.9% (3%) |
0% until August 2010 |
- |
14.9% |
|
|
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Express Rewards
|
17.9% (3%) |
0% for 6 months |
Earn up to 3 points for every £1 spent at major UK supermarkets, 2 points for every £1 at UK department stores and 1 point for every £1 elsewhere. Exchange points for gift vouchers at favourite high street stores and online retailers |
17.9% |
|
|
|
Royal Bank of Scotland
|
19.9% (no fee) |
4.9% for 9 months |
- |
19.9% |
|
|
|
NatWest
|
19.9% (no fee) |
4.9% for 9 months |
- |
19.9% |
|
|
 |
American Express Platinum Cashback
|
- |
19.9% |
Up to 5% cashback on purchases |
19.9% |
|
|
|
Capital One Classic
|
- |
34.9% |
- |
34.9% |
|
|
|
Vanquis Visa
|
- |
39.9% |
- |
39.9% |
|
|
If you still have a debt when the 0% period come to and end there
is nothing preventing you from shifting the balance again to another
card. The time to switch the money is the month before the deal ends – which usually means applying for a new card about 6 weeks before the deadline date.