Most credit card providers now offer a 0% balance transfer rate.

If you’re considering transferring your balance from a current credit card to a new one, you’ll probably be looking for a 0% balance transfer rate. This means that you won’t be charged any interest on the balance that you transfer to the new card until the set introductory period is over.

When you’re deciding which credit card to apply for, you need to look for more than just the 0% offer. Most credit cards now charge a handling fee for balance transfers, which is usually around 2% although some cards charge as much as 3%. This means that moving your balance from one card to another isn’t free, as a 0% offer might suggest. On the other hand, a 2% up front charge is still a lot less than the normal credit card rate, so you will still save money – and if the subsequent 0% rate is valid for as much as 12 months, you are still getting a real financial benefit from switching.

The 0% credit card balance transfer market

The credit card market is highly competitive and most providers will offer a 0% balance transfer rate. At Which Credit Card 4U, we compare the best credit cards for balance transfers, updating our tables on a daily basis so that you always have access to the best deals. Credit cards that always offer good value for balance transfers include:

• MBNA Credit Card
• Virgin Credit Card
• Post Office Credit Card
• Barclaycard Credit Card
• Capital One Credit Card
  
• RBS Credit Card
• NatWest Credit Card
• TESCO Credit Card
  

Just by checking in with our website, you can compare the credit card balance transfer rates available to help you decide which card to apply for.

Transfer more than your credit card balance

If you already have outstanding balances on a number of credit cards, or even if you have a bank overdraft or a loan you need to pay off, you may be able to transfer all those debts to a single new card at a 0% interest rate. Check with the card provider whether this is possible before you apply, as this can be a great way to sort out your finances. Although you may have to pay a handling charge, you will get a significant interest free period, which you can use to pay off as much of your debt as possible. Once your introductory period is over, you may be able to transfer your balance to another card, taking advantage of a separate 0% credit card balance transfer deal.

Look at the 0% offers available on our website now. When you’ve found a deal that works for you, click on “Apply Now” to go straight to the provider’s official application form.

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