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Top 10 Balance Transfer Credit Cards for 2018

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What to look for in a balance transfer deal

Knowing what to look for in a balance transfer deal can seem a little overwhelming if you’re not up on the lingo, but all that financial jargon shouldn’t put you off.

Read on to discover what you should be on the lookout for in a balance transfer deal and how this affects you before making an application.

What are 0% interest periods?

When choosing a balance transfer card, look for the deal that offers you the longest interest free period. This will give you more time to clear the balance without attracting a higher interest rate.

What are no transfer fees?

Some balance transfer fees come complete with an initial transfer cost, whilst others might have an annual fee – but there are a few out there that are available without any fees at all. Shop around to find one that offers no transfer or annual fees.

What are existing balances and purchases?

Some of the best balance transfer cards offer a 0% interest rate on both existing balances and new purchases, ideal if you know you have a major purchase coming up in the next few months.

Can you get balance transfer cards with poor credit?

If your credit history is a little hit and miss, it shouldn’t put you off going for a balance transfer card. There are a few out there on the market that will accept applicants with less than perfect credit scores. Alternatively, check out our credit builder credit cards or use our eligibility tool to see what cards you could get based on your credit score. 

Compare Top Balance Transfer Cards

 

Finding the right card for you

Looking for a balance transfer card that suits your individual circumstances can feel like a real challenge, but it doesn’t need to be.

As with any kind of borrowing, the ‘right’ card is the one that suits your financial situation best. Here’s our short guide to select the best card for you

Do you have a poor credit rating?

If your credit history isn’t good, it doesn’t mean that a balance transfer card is out of reach.

When you make an application for any type of loan or card, your credit score is hit temporarily, so just make sure that you use an eligibility checker before applying to stop any damage and ensure that you’re likely to be accepted before you apply.

Check your eligibility for a Balance Transfer card

Alternatively, check out our credit builder credit cards or use our eligibility tool to see what cards you could get based on your credit score. 

Do you have a large balance to transfer?

If you’re looking to consolidate several cards or have a large balance that you want to clear, opt for a balance transfer card deal that gives you the longest possible interest free period to repay the debt.

This will give you longer to make the repayments without attracting higher interest rates once the interest free period comes to an end.

Do you need the ability to make purchases?

Some balance transfer deals allow you to make purchases at 0% as well as offering interest free balance transfers, so if you know that there’s a big purchase on the horizon that you can pay back with the interest free period, then this is the best type of card for you.