Find Balance Transfer Credit Cards with Moneymaxim

The best balance transfer credit cards are those which offer a no or low transfer fee and the longest interest free period.

Now that credit cards are repaid with the highest interest balances being repaid first credit cards offering balance transfers interest free are more attractive than ever, although the current credit environment means that the credit scoring for balance transfer cards is tighter than ever.

Consider running a credit card check using a service such as Credit Expert - which is subject to a monthly fee, but allows a 30 day trail period first during which a credit check can be run free of charge

The following table is set to display the best balance transfer cards, but do feel free to review other card types using the categories at the top of the page.

Balance Transfer Credit Cards

Best Buy Credit Card Tables for Balance Transfer Cards

A Balance Transfer Credit Card can be an excellent way for clearing credit card debts more quickly. Rather than paying the 'standard' rate of interest - normally around 18% or so - you can switch the balance to a new credit card, paying a fee of around 3% - and then get a lengthy interest free period during which you can make repayments without seeing them eaten up by the monthly interest payment. Many borrowers have used this process over a number of cards to manage their debts down.

You normally need to find a credit card company with whom you do not currently have a relationship to be successful in your application - but there is a lot of choice in the market at the moment with competion really hotting up. Both of the companies who are traditionally strong in this market, Barclaycard and the Virgin Credit Card are still heading the tables, but have recently been joined by Nationwide who have become very aggressive in the free balance transfer market.

Recently we have seen the HBOS increase their competitiveness, with the Plus card which is available from both Halifax and Bank of Scotland now sporting a 13 month balance transfer period, whilst their All in One card now has 12 month interest free periods for both balance transfers and purchases. Full details on our full balance transfer comparison tables.

Remember that you cannot transfer balances from a card which is part of the same company any new card is with (Virgin Money Credit Card is run by the MBNA group).

As the fees involved in taking a balance transfer differ from card to card the cheapest card will depend on the length of time you wish to borrow for - we suggest you consider the maximium period you wish to take an interest free balance transfer for, and then find the one offering the lower balance transfer fee offering that period - this can be easily identified using the table above.

If you are looking for an alternative type of card (such as an long interest free purchase, cashback or reward card please refer to our credit card index.

If you want to discuss the ins and out of balance transfer credit cards do not hesitate to call the moneymaxim customer assistance team.

Last updated 17th May 2011