Balance transfer credit card

A balance transfer credit card is the best credit cards if you rarely or never clear your balance each month and you are carrying a hefty balance on one or more cards with high interest rates. Sound familiar? Then you may be able to reduce both your monthly spending and overall repayments by moving to a balance transfer credit card. Balance transfer credit cards have been around for a few years and they've been through some changes as consumers found ways to take advantage of great offers by continually swtching their balances, so they've got a few new twists in the way that they work, the main one being increased transfer fees. The main idea remains the same - you apply for a card with a low APR on transfers. If you're accepted after completing the online application form, you move your debt from higher APR cards to your new card, where you pay it off at substantially lower rates of interest and some balance transfer credit cards offer 0% on the transferred balance, so you could end up repaying your credit card balance with no interest charges at all.

So what's the catch you're asking? That depends on which balance transfer credit cards you choose. As always, it's important to read the fine print when choosing new credit cards and some comparison points that you should consider when making a decision on a balance transfer credit card application include:

• What is the APR (Annual Percentage Rate) for balance transfers?
• What is the length of time that the low APR is in effect?
• Is there a balance transfer fee - There usually is these days? If so, how much will it cost you to transfer the balance from one card to another?
• Will you have to make other purchases with your new card to keep the lower APR on your transferred balance? If so, what is the APR on new purchases? This is important, because most companies apply all of your payments to the 'lowest interest charges' first. That means that all of your payments will go toward reducing your transferred debt on the the balance transfer credit card, while your new charges accrue interest at a higher rate.

We make it easy for you to find and compare balance transfer credit cards with full reviews of each credit card you're considering. If you're looking for a way to reduce your monthly payments on credit cards, take a look at our offers on a balance transfer credit card now.

Best buys

Capital One Platinum

Capital One, one of the world's largest provider of balance transfer credit cards, offers a platinum card for those with excellent credit.

Intro APR	Transfer Rate	Transfer Fee	Standard APR	Credit Quality	Star Rating
0% March 2009	0% March 2009	3%	9.9%	Excellent Credit

MBNA

Continual innovation and a drive to be the most competitive makes this probably one of the best balance transfer cards available.

Intro APR	Transfer Rate	Transfer Fee	Standard APR	Credit Quality	Star Rating
0% Aug 2008	0% June 2009	3%	15.90%	Good Credit

Virgin Credit Card

The 0% card is a great all rounder with travel and accident insurance and reward points redeemable at the Virgin online members shop.

Intro APR	Transfer Rate	Transfer Fee	Standard APR	Credit Quality	Star Rating
0% 3 months	0% 15 months	2.98%	15.90%	Good Credit

Best of the rest

Barclaycard Flexi Rate

An ingenious idea for a balance transfer option that means the more you pay each month, the less interest you're charged.

Intro APR	Transfer Rate	Transfer Fee	Standard APR	Credit Quality	Star Rating
0% 3 months	0% 12 months	2.5%	14.9%	Good Credit

HSBC Bank Credit Card

Five levels of securityagainst unauthorised spending with an excellent interest rate make this a true balance transfer credit card.

Intro APR	Transfer Rate	Transfer Fee	Standard APR	Credit Quality	Star Rating
0% 12 months	4.9% Jan 2012	2.5%	15.90%	Good Credit

MINT

Great offers on this balance transfer card with great interest rates and the option to extend interest free periods as they expire.

Intro APR	Transfer Rate	Transfer Fee	Standard APR	Credit Quality	Star Rating
0% Aug 2008	0% Mar 2009	2.5%	12.9%	Good Credit

RBS

Long interest free periods plus offers discounts on holidays, hotels and car hire make this a very interesting card offer.

Intro APR	Transfer Rate	Transfer Fee	Standard APR	Credit Quality	Star Rating
0% 6 months	0% 13 months	2.9%	12.90%	Good Credit

Sainsburys Platinum Card

Long interest free periods on this balance transfer credit card and 4 nectar points for every pound spent makes this is a great option.

Intro APR	Transfer Rate	Transfer Fee	Standard APR	Credit Quality	Star Rating
0% 3 months	0% 12 months	3%	15.90%	Good Credit

Sainsburys Standard Card

A very similar card to the alternative offered by Sainsbury’s which its why it was discontinued in favour of their main card.

Intro APR	Transfer Rate	Transfer Fee	Standard APR	Credit Quality	Star Rating
0% 3 months	0% 12 months	3%	15.90%	Good Credit

Barclaycard Platinum

A low interest rate and one of the longest balance transfer periods available make this a great option for your everyday spending.

Intro APR	Transfer Rate	Transfer Fee	Standard APR	Credit Quality	Star Rating
0% 3 months	0% 14 months	2.9%	14.90%	Good Credit

Egg Visa

The brand leader of balance transfer cards is aimed at the internet generation, the first to offer 0% on purchases and transfers.

Intro APR	Transfer Rate	Transfer Fee	Standard APR	Credit Quality	Star Rating
0% Aug 2008	0% Aug 2009	3%	16.90%	Good Credit

Intelligent Finance Card

A simple straight forward credit card with a low rate of interest and additional cards helps to keep you on top of your finances.

Intro APR	Transfer Rate	Transfer Fee	Standard APR	Credit Quality	Star Rating
0% 8 months	8.9% life of balance	3%	16.90%	Good Credit

Post Office Credit Card

With over the counter commission free currency and 0% on purchases made abroad this is what you should be using to pay for your holiday.

Intro APR	Transfer Rate	Transfer Fee	Standard APR	Credit Quality	Star Rating
0% 3 months	0% 10 months	2.75%	15.90%	Excellent Credit

Natwest

Natwest offers cards to suit all circumstances. With 0% balance transfer credit cards and 0% on purchases there’s a card to suit all.

Intro APR	Transfer Rate	Transfer Fee	Standard APR	Credit Quality	Star Rating
0% 6 months	0% 13 months	2.9%	13.90%	Good Credit