Balance Transfer Credit Cards
Take advantage of balance transfer cards with 0% introductory rates to prevent your existing credit card from charging you high APR. Save money today by comparing all our balance transfer cards! Some of the compared cards are free up to 18months but beware of transfer costs as it could prove more costly to transfer your existing debt if these costs apply.
Balance Transfer Card Benefits
If you have several credit cards it is often beneficial to switch all your debts to the one balance transfer card so it is simpler to keep on top of your payments and how much you owe each month.
The main advantage is paying 0% interest on your repayments by taking advantage of the introductory offers these cards offer. This can save you money as some of the offers last up to 16 months!
Balance Transfer Card Negatives
The majority of credit cards now charge a balance transfer fee, which is a percentage of the amount of debt you need to switch to the card. This fee ranges from 2.5% to 3% of the balance transferred and needs to be taken into account alongside the interest rate before signing up to a deal. That said, if you are currently paying an interest rate of 18% or so, this fee is well worth paying.
However, bear in mind that the leading balance transfer credit card deals will only be available to those with squeaky clean credit histories. So if you are currently juggling debts and are looking to transfer them onto a cheaper credit card because you’re struggling to keep up with your repayments, be warned, you may not qualify for the deal that initially catches your eye.
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