Top 0% Balance Transfer and Purchase Credit Cards

  • If you need to make purchases as well as transferring an existing balance these 0% credit cards could save you money on both
  • Use our table below to find the right credit card for you by comparing the interest free periods, fees and rates.
  • There are 53 out of 84 cards matching this search.
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aqua Classic Credit Card
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  • 29.7% APR (Variable)
  • Start with a credit limit of £250-£1,200 and you could get an increase on your 4th statement
  • Free unlimited access to your credit report
  • Text reminders, so you need never miss a payment
Representative Example: Assumed borrowing of £1,200 for 1 year, at a Purchase Rate of 29.71% (variable), representative 29.7% APR (variable). Credit available subject to status.

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  • Barclaycard Platinum 27 Month Balance Transfer and Purchase Credit Card

  • Balance Transfers Offer
    0% Fixed
    For 27 months
    (2.49% fee)
  • New Purchases Offer
    0% Fixed
    For 27 months
  • Representative APR
    18.9% APR
    (Variable)
  • More Info + Details
  • Additional Information

    • Min Credit
      £250
    • Provider
      Barclaycard

    Benefits

      • Barclaycard PayTag enabled - Use your mobile phone for contactless payments.
      • Contactless payment for items up to £30.
      • Instant online decision available.
    • Contactless Payment
      Contactless payment for items up to £30

    Before you Continue...

  • Representative Example: Assumed borrowing of £1,200 for 1 year, at a Purchase Rate of 18.9% (variable), representative 18.9% APR (variable). Credit available subject to status. 3.5% Balance Transfer Fee applies but this is reduced to 2.49% by a refund (Terms and conditions apply).

  • Santander Everyday Credit Card

  • Balance Transfers Offer
    0% Fixed
    For 27 months
    (2.75% fee)
  • New Purchases Offer
    0% Fixed
    For 27 months
  • Representative APR
    18.9% APR
    (Variable)
  • More Info + Details
  • Additional Information

    • Min Credit
      £500
    • Provider
      Santander

    Benefits

      • 0% on balance transfers and purchases for 27 months from date of account opening.
      • No balance transfer fee during the introductory period.
      • No monthly fee.
      • Retailer Offers - get five welcome cashback offers ranging from 5% to 25% at a range of well-known major retailers once you switch on Retailer Offers via Online or Mobile Banking.
    • Contactless Payment
      Contactless payment for items up to £30

    Before you Continue...

    • Retailer Offers - get five welcome cashback offers ranging from 5% to 25% at a range of well-known major retailers once you switch on Retailer Offers via Online or Mobile Banking
  • Representative Example: Assumed borrowing of £1,200 for 1 year, at a Purchase Rate of 18.9% (variable), representative 18.9% APR (variable). Credit available subject to status.

  • Virgin 27 Month All Round Credit Card

  • Balance Transfers Offer
    0% Fixed
    For 27 months
    (2.79% fee)
  • New Purchases Offer
    0% Fixed
    For 27 months
  • Representative APR
    18.9% APR
    (Variable)
  • More Info + Details
  • Additional Information

      • Contactless payment for items up to £30.
      • Choose from a range of different card designs.
    • Provider
      Virgin Money

    Benefits

      • 0% for 27 months on purchases, 0% for 27 months on balance transfers, with a fee of 2.79% and 0% for 27 months on money transfers, with a fee of 2.79%.
    • Contactless Payment
      Contactless payment for items up to £30

    Before you Continue...

      • You must be a UK resident and hold a UK bank/building society account.
      • You must have good credit history.
    • Min Age
      18
    • Visit Website
  • Representative Example: Assumed borrowing of £1,200 for 1 year, at a Purchase Rate of 18.9% (variable), representative 18.9% APR (variable). Credit available subject to status.

  • Sainsbury's Bank Dual Offer Credit Card

  • Balance Transfers Offer
    0% Fixed
    For 27 months
    (3% fee)
  • New Purchases Offer
    0% Fixed
    For 27 months
  • Representative APR
    18.9% APR
    (Variable)
  • More Info + Details
  • Additional Information

    • Provider
      Sainsbury's Bank

    Benefits

      • Interest rate and credit limit are subject to status.
      • 5,000 bonus Nectar points - spend at least £250 in a Sainsbury's store in the first month from account opening. Ends 26th March 2017.
      • 2 Nectar points per £1 spend on Sainsbury's shopping or fuel. 1 Nectar point per £5 spent elsewhere.
      • If your application is approved you are guaranteed to get the 0% interest period advertised.
      • No annual fee.

    Before you Continue...

      • You must be a UK resident.
      • You must not be an existing Sainsbury's Bank Credit Card customer.
    • Min Age
      18
    • Visit Website
    • 5,000 bonus Nectar points - spend at least £250 in a Sainsbury's store in the first month from account opening. Ends 26th March 2017
    • 2 Nectar points per £1 spend on Sainsbury's shopping or fuel. 1 Nectar point per £5 spent elsewhere
  • Representative Example: Assumed borrowing of £1,200 for 1 year, at a Purchase Rate of 18.95% (variable), representative 18.9% APR (variable). 3% balance transfer fee applies (£3 minimum at all times). Credit available subject to status.

  • Halifax 26 Month Balance Transfer and Purchase Credit Card

  • Balance Transfers Offer
    0% Fixed
    For 26 months
    (2.95% fee)
  • New Purchases Offer
    0% Fixed
    For 26 months
  • Representative APR
    18.9% APR
    (Variable)
  • More Info + Details
  • Additional Information

    • Min Credit
      £500
    • Provider
      Halifax

    Benefits

      • 0% interest for 26 months on balances transferred within the first 90 days after your account is opened. 2.95% fee applies on each balance transfer, an initial 3% fee applies with a refund of 0.05% within 90 days, so the effective fee is 2.95%. Also 26 months at 0% on purchases.
      • Manage your card online using Online Banking and Mobile Banking.
      • Fraud protection.
      • Faster payments to your card giving more flexibility and control.

    Before you Continue...

  • Representative Example: Assumed borrowing of £1,200 for 1 year, at a Purchase Rate of 18.95% (variable), representative 18.9% APR (variable). Credit available subject to status. An initial 3% fee applies; we'll then refund 0.05% within 90 days, so the effective fee is 2.95%.

  • Barclaycard Platinum 25 Month Balance Transfer and Purchase Credit Card

  • Balance Transfers Offer
    0% Fixed
    For 25 months
    (1.49% fee)
  • New Purchases Offer
    0% Fixed
    For 25 months
  • Representative APR
    18.9% APR
    (Variable)
  • More Info + Details
  • Additional Information

    • Min Credit
      £250
    • Provider
      Barclaycard

    Benefits

      • Get £20 cashback when you spend at least £500 or transfer a balance of £500 or more within 60 days of opening your account. Offer ends 6 February 2017. (T&Cs apply).
      • Barclaycard PayTag enabled - Use your mobile phone for contactless payments.
      • Contactless payment for items up to £30.
      • Instant online decision available.
    • Contactless Payment
      Contactless payment for items up to £30

    Before you Continue...

    • Get £20 cashback when you spend at least £500 or transfer a balance of £500 or more within 60 days of opening your account. Offer ends 6 February 2017. (T&Cs apply).
  • Representative Example: Assumed borrowing of £1,200 for 1 year, at a Purchase Rate of 18.9% (variable), representative 18.9% APR (variable). Credit available subject to status. 2.5% Balance Transfer Fee applies but this is reduced to 1.49% by a refund (Terms and conditions apply).

  • Virgin All Round Credit Card

  • Balance Transfers Offer
    0% Fixed
    For 25 months
    (1.5% fee)
  • New Purchases Offer
    0% Fixed
    For 25 months
  • Representative APR
    18.9% APR
    (Variable)
  • More Info + Details
  • Additional Information

      • Contactless payment for items up to £30.
      • Choose from a range of different card designs.
    • Provider
      Virgin Money

    Benefits

      • 0% for 25 months on purchases, 0% for 25 months on balance transfers, with a fee of 1.50% and 0% for 25 months on money transfers, with a fee of 2%.
    • Contactless Payment
      Contactless payment for items up to £30

    Before you Continue...

      • You must be a UK resident and hold a UK bank/building society account.
      • You must have good credit history.
    • Min Age
      18
    • Visit Website
  • Representative Example: Assumed borrowing of £1,200 for 1 year, at a Purchase Rate of 18.9% (variable), representative 18.9% APR (variable). Credit available subject to status.

  • M&S Shopping Plus Offer Credit Card

  • Balance Transfers Offer
    0% Fixed
    For 25 months
    (2.9% fee)
  • New Purchases Offer
    0% Fixed
    For 25 months
  • Representative APR
    18.9% APR
    (Variable)
  • More Info + Details
  • Additional Information

    • Min Credit
      £500
    • Provider
      M&S Bank

    Benefits

      • Buy M&S Travel Money with no cash advance or foreign exchange fees.
      • Earn M&S reward points every time you shop with your card.
      • Spend Safe fraud protection for complete peace of mind.
      • A bonus points voucher worth £5 when you use your M&S Credit Card in store.

    Before you Continue...

    • Buy M&S Travel Money with no cash advance or foreign exchange fees
    • Earn M&S reward points every time you shop with your card
  • Representative Example: Assumed borrowing of £1,200 for 1 year, at a Purchase Rate of 18.9% (variable), representative 18.9% APR (variable). Credit available subject to status.

  • Halifax 43 Month Balance Transfer Credit Card

  • Balance Transfers Offer
    0% Fixed
    For 43 months
    (3.28% fee)
  • New Purchases Offer
    0% Fixed
    For 6 months
  • Representative APR
    18.9% APR
    (Variable)
  • More Info + Details
  • Additional Information

    • Min Credit
      £500
    • Provider
      Halifax

    Benefits

      • 0% interest for 43 months on balances transferred within the first 90 days after your account is opened. 3.28% fee applies on each balance transfer, an initial 3.5% fee applies with a refund of 0.22% within 90 days, so the effective fee is 3.28%. Also 6 months at 0% on purchases.
      • Manage your card online using Online Banking and Mobile Banking.
      • Fraud protection.
      • Faster payments to your card giving more flexibility and control.

    Before you Continue...

  • Representative Example: Assumed borrowing of £1,200 for 1 year, at a Purchase Rate of 18.95% (variable), representative 18.9% APR (variable). Credit available subject to status. An initial 3.5% fee applies with a refund of 0.22% within 90 days, so the effective fee is 3.28% (Terms and conditions apply).

  • Virgin 28 Month Purchase Credit Card

  • Balance Transfers Offer
    0% Fixed
    For 20 months
    (1.99% fee)
  • New Purchases Offer
    0% Fixed
    For 28 months
  • Representative APR
    19.9% APR
    (Variable)
  • More Info + Details
  • Additional Information

      • Contactless payment for items up to £30.
      • Choose from a range of different card designs.
    • Provider
      Virgin Money

    Benefits

      • 0% for 28 months on purchases, 0% for 20 months on balance transfers, with a fee of 1.99% and 0% for 20 months on money transfers, with a fee of 2.99%.
    • Contactless Payment
      Contactless payment for items up to £30

    Before you Continue...

      • You must be a UK resident and hold a UK bank/building society account.
      • You must have good credit history.
    • Min Age
      18
    • Visit Website
  • Representative Example: Assumed borrowing of £1,200 for 1 year, at a Purchase Rate of 19.9% (variable), representative 19.9% APR (variable). Credit available subject to status.

  • Lloyds Bank Platinum 42 Month Balance Transfer Credit Card

  • Balance Transfers Offer
    0% Fixed
    For 42 months
    (2.35% fee)
  • New Purchases Offer
    0% Fixed
    For 6 months
  • Representative APR
    18.9% APR
    (Variable)
  • More Info + Details
  • Additional Information

    • Min Credit
      £500
    • Provider
      Lloyds Bank

    Benefits

      • 0% interest for 42 months on balances transferred within the first 90 days after your account is opened. 2.35% fee applies on each balance transfer, an initial 3% fee applies with a refund of 0.65% within 90 days, so the effective fee is 2.35%. Also 6 months at 0% on purchases.
      • Manage your card online using Online Banking and Mobile Banking service.
      • Fraud protection.
      • Faster payments to your card giving more flexibility and control.
    • Contactless Payment
      Contactless payment for items up to £30

    Before you Continue...

  • Representative Example: Assumed borrowing of £1,200 for 1 year, at a Purchase Rate of 18.94% (variable), representative 18.9% APR (variable). Credit available subject to status. An initial 3% fee applies with a refund of 0.65% within 90 days, so the effective fee is 2.35% (Terms and conditions apply).

  • Lloyds Bank Platinum 24 Month Balance Transfer and Purchase Credit Card

  • Balance Transfers Offer
    0% Fixed
    For 24 months
    (2.5% fee)
  • New Purchases Offer
    0% Fixed
    For 24 months
  • Representative APR
    18.9% APR
    (Variable)
  • More Info + Details
  • Additional Information

    • Min Credit
      £500
    • Provider
      Lloyds Bank

    Benefits

      • 24 months at 0% for a 2.5% fee on balances transferred within the first 90 days. After the initial 90 days the fee on balances transferred is 3%. Also 24 months at 0% on purchases.
      • Manage your card online using Online Banking and Mobile Banking.
      • Fraud protection.
      • Faster payments to your card giving more flexibility and control.
    • Contactless Payment
      Contactless payment for items up to £30

    Before you Continue...

  • Representative Example: Assumed borrowing of £1,200 for 1 year, at a Purchase Rate of 18.94% (variable), representative 18.9% APR (variable). Credit available subject to status.

  • Bank of Scotland Platinum 24 Month Balance Transfer and Purchase Credit Card

  • Balance Transfers Offer
    0% Fixed
    For 24 months
    (2.5% fee)
  • New Purchases Offer
    0% Fixed
    For 24 months
  • Representative APR
    18.9% APR
    (Variable)
  • More Info + Details
  • Additional Information

    • Min Credit
      £500
    • Provider
      Bank of Scotland

    Benefits

      • 24 months at 0% for a 2.5% fee on balances transferred within the first 90 days. After the initial 90 days the fee on balances transferred is 3%. Also 24 months at 0% on purchases.
      • Manage your card online using Online Banking and Mobile Banking service.
      • Fraud protection.
      • Faster payments to your card giving more flexibility and control.

    Before you Continue...

  • Representative Example: Assumed borrowing of £1,200 for 1 year, at a Purchase Rate of 18.95% (variable), representative 18.9% APR (variable). Credit available subject to status.

  • Barclaycard Platinum 42 Month Balance Transfer Credit Card

  • Balance Transfers Offer
    0% Fixed
    For 42 months
    (2.99% fee)
  • New Purchases Offer
    0% Fixed
    For 6 months
  • Representative APR
    18.9% APR
    (Variable)
  • More Info + Details
  • Additional Information

    • Min Credit
      £250
    • Provider
      Barclaycard

    Benefits

      • Get £20 cashback when you transfer a balance of £500 or more (T&Cs apply). Offer ends 6 February 2017.
      • Barclaycard PayTag enabled - Use your mobile phone for contactless payments.
      • Contactless payment for items up to £30.
      • Instant online decision available.
    • Contactless Payment
      Contactless payment for items up to £30

    Before you Continue...

    • Get £20 cashback when you transfer a balance of £500 or more (T&Cs apply). Offer ends 6 February 2017
  • Representative Example: Assumed borrowing of £1,200 for 1 year, at a Purchase Rate of 18.9% (variable), representative 18.9% APR (variable). Credit available subject to status. A fee of 3.5% will be applied, then reduced to 2.99% by a refund (Terms and conditions apply).

  • Lloyds Bank Choice Rewards Credit Card

  • Balance Transfers Offer
    0% Fixed
    For 24 months
    (3% fee)
  • New Purchases Offer
    0% Fixed
    For 24 months
  • Representative APR
    23.7% APR
    (Variable)
  • More Info + Details
  • Additional Information

    • Annual fee
      £24
    • Provider
      Lloyds Bank

    Benefits

      • 10 Choice points for every £1 of eligible spend on the Choice Rewards American Express® Card and 10 Choice points for every £5 of eligible spend on the Choice Rewards MasterCard. Choice of rewards, including high street vouchers, cashback and Avios.
      • Double Choice points for the first 6 months on American Express (Terms and Conditions apply).
      • 50% Annual fee refund on a Choice Rewards Credit Card for every year you hold both this and your Club Lloyds current account.
    • Contactless Payment
      Contactless payment for items up to £30

    Before you Continue...

    • Choice of rewards, including high street vouchers, cashback and Avios
  • Representative Example: Assumed borrowing of £1,200 for 1 year, at a Purchase Rate of 18.94% (variable), with a £24 annual fee, representative 23.7% APR (variable). Credit available subject to status.

  • Santander All in One Credit Card

  • Balance Transfers Offer
    0% Fixed
    For 41 months
    (0% fee)
  • New Purchases Offer
    0% Fixed
    For 6 months
  • Representative APR
    21.7% APR
    (Variable)
  • More Info + Details
  • Additional Information

    • Annual fee
      £36
    • Min Credit
      £500
    • Provider
      Santander

    Benefits

      • 0% on balance transfers for 41 months from date of account opening (0% fee applies).
      • 0% on purchases for 6 months from date of account opening.
      • 0.5% cashback on all of your purchases with no limits or caps.
      • No foreign transaction fee on purchases or cash withdrawals in the local currency when you're abroad.
      • Retailer Offers - get five welcome cashback offers ranging from 5% to 25% at a range of well-known major retailers once you switch on Retailer Offers via Online or Mobile Banking.
    • Contactless Payment
      Contactless payment for items up to £30

    Before you Continue...

      • The annual fee is broken down into monthly payments of £3.
    • Min Income
      £7,500
    • Min Age
      18
    • Visit Website
    • 0.5% cashback on all of your purchases with no limits or caps
    • Retailer Offers - get five welcome cashback offers ranging from 5% to 25% at a range of well-known major retailers once you switch on Retailer Offers via Online or Mobile Banking
  • Representative Example: Assumed borrowing of £1,200 for 1 year, at a Purchase Rate of 15.9% (variable), with a £36 annual fee, representative 21.7% APR (variable). Credit available subject to status.

  • Sainsbury's Bank Purchase Credit Card

  • Balance Transfers Offer
    0% Fixed
    For 18 months
    (3% fee)
  • New Purchases Offer
    0% Fixed
    For 29 months
  • Representative APR
    18.9% APR
    (Variable)
  • More Info + Details
  • Additional Information

    • Provider
      Sainsbury's Bank

    Benefits

      • Interest rate and credit limit are subject to status.
      • 2 Nectar points per £1 spend on Sainsbury's shopping or fuel. 1 Nectar point per £5 spent elsewhere.
      • 5,000 bonus Nectar points - spend at least £250 in a Sainsbury's store in the first month from account opening. Ends 26th March 2017.
      • If your application is approved you are guaranteed to get the 0% interest period advertised.
      • No annual fee.

    Before you Continue...

      • You must be a UK resident.
      • You must not be an existing Sainsbury's Bank Credit Card customer.
    • Min Age
      18
    • Visit Website
    • 5000 bonus Nectar points - spend at least £250 in a Sainsbury's store in the first month from account opening. Ends 26th March 2017
    • 2 Nectar points per £1 spend on Sainsbury's shopping or fuel. 1 Nectar point per £5 spent elsewhere
  • Representative Example: Assumed borrowing of £1,200 for 1 year, at a Purchase Rate of 18.95% (variable), representative 18.9% APR (variable). Credit available subject to status. 3% balance transfer fee applies for transfers in the first 3 months, 3% afterwards (Minimum £3 at all times).

  • Bank of Scotland Platinum 40 Month Balance Transfer Credit Card

  • Balance Transfers Offer
    0% Fixed
    For 40 months
    (1.88% fee)
  • New Purchases Offer
    0% Fixed
    For 6 months
  • Representative APR
    18.9% APR
    (Variable)
  • More Info + Details
  • Additional Information

    • Min Credit
      £500
    • Provider
      Bank of Scotland

    Benefits

      • 0% interest for 40 months on balances transferred within the first 90 days after your account is opened. 1.88% fee applies on each balance transfer, an initial 3% fee applies with a refund of 1.12% within 90 days, so the effective fee is 1.88%. Also 6 months at 0% on purchases.
      • Manage your card online using Online Banking and Mobile Banking service.
      • Fraud protection.
      • Faster payments to your card giving more flexibility and control.
    • Contactless Payment
      Contactless payment for items up to £30

    Before you Continue...

  • Representative Example: Assumed borrowing of £1,200 for 1 year, at a Purchase Rate of 18.95% (variable), representative 18.9% APR (variable). Credit available subject to status. An initial 3% fee applies with a refund of 1.12% within 90 days, so the effective fee is 1.88% (Terms and conditions apply).

  • Barclaycard Platinum 40 Month Balance Transfer Credit Card

  • Balance Transfers Offer
    0% Fixed
    For 40 months
    (1.93% fee)
  • New Purchases Offer
    0% Fixed
    For 6 months
  • Representative APR
    18.9% APR
    (Variable)
  • More Info + Details
  • Additional Information

    • Min Credit
      £250
    • Provider
      Barclaycard

    Benefits

      • Get £20 cashback when you transfer a balance of £500 or more. Offer ends 6 February 2017. (T&Cs apply).
      • Barclaycard PayTag enabled - Use your mobile phone for contactless payments.
      • Contactless payment for items up to £30.
      • Instant online decision available.
    • Contactless Payment
      Contactless payment for items up to £30

    Before you Continue...

    • Get £20 cashback when you transfer a balance of £500 or more. Offer ends 6 February 2017. (T&Cs apply).
  • Representative Example: Assumed borrowing of £1,200 for 1 year, at a Purchase Rate of 18.9% (variable), representative 18.9% APR (variable). Credit available subject to status. A fee of 3.5% will be applied, then reduced to 1.93% by a refund (Terms and conditions apply).

  • AA Dual Credit Card

  • Balance Transfers Offer
    0% Fixed
    For 18 months
    (2.89% fee)
  • New Purchases Offer
    0% Fixed
    For 28 months
  • Representative APR
    18.9% APR
    (Variable)
  • More Info + Details
  • Additional Information

    • Min Credit
      £1,000
    • Provider
      AA

    Benefits

      • £35 cashback for all successful applicants that make a transaction on their card, minimum £500 spend required. Terms apply.
      • Manage your card on the go with the AA Credit Card mobile servicing app.
      • 0% for 18 months on balance transfers is only available on transfers made within the first 3 months of account opening. 2.89% fee applies.
      • 0% for 28 months on purchases is only available if a transaction is made within the first 3 months of account opening.
    • Contactless Payment
      Contactless payment for items up to £30

    Before you Continue...

      • You must have a good credit rating to apply.
      • AA Credit Cards are provided by Bank of Ireland UK. AA Financial Services Limited is a credit broker and not a lender.
    • Min Income
      £8,000
    • Min Age
      18
    • Visit Website
    • £35 cashback for all successful applicants that make a transaction on their card, minimum £500 spend required. Terms apply
  • Representative Example: Assumed borrowing of £1,200 for 1 year, at a Purchase Rate of 18.9% (variable), representative 18.9% APR (variable). Credit available subject to status.

0% Balance Transfers

Balance transfer deals give savvy credit card users the chance to access huge savings by banishing unwanted interest charges. By shifting your balance from an existing card to a 0% balance card, you can take advantage of low-interest rates - saving you hundreds or even thousands of pounds when repaying debt.

Because 0% balance cards allow you to pay back money at a lower rate, transfers often mean that you can pay off debt faster. Just keep in mind that you'll need to pay a small fee to switch your debt over in the first place. Fortunately, most fees are between 2.5% and 3%, a comparatively small price to pay for a faster route to a debt-free life.

How Long Does a 0% Balance Transfer Take?

In many cases, transferring to a 0% card will only take a few days. However, depending on the provider you choose, you might find that you're waiting for up to two weeks before your new card is delivered in the mail, followed by another week's wait to make the transfer.

Do I Have to Pay a Monthly Minimum?

While 0% deals can be an excellent solution for thrifty consumers, they don't mean you can avoid making any regular payments. You'll still be expected to make at least the minimum monthly payments on your debt - otherwise, you could end up facing significant penalties, or even lose your 0% deal.

When is the Best Time to Apply for a Balance Transfer?

To get the most from a 0% balance transfer, it's a good idea to apply for the switch at least three weeks before you need to pay off the balance on your old card. Keep in mind you may be required to transfer all debts within a month or two of opening the new card.

Can Money Be Transferred to My Bank Account?

Usually, 0% balance transfer credit cards should allow you to send money to your bank account with a 0% interest rate for an introductory period of a certain number of months depending on the provider.

How Much Money Can I Transfer?

Depending on the provider you choose you will be allowed to transfer a specific percentage of your credit limit, usually within the region of 90 to 95%. For example, if your credit limit is £5,000, you would be able to use £4,500 towards your balance transfers.

How Can I Repay a 0% Balance Transfer?

Most of the time, the best way to manage your debt is to create a direct debit. If you move a balance of £4,500 over to your 0% card, you could set up a direct debit for £150 a month that hopefully leaves you debt-free by the time the 0% interest rate offer expires. If you can't repay your debt by the end of the offer, you could start to rack up standard-rate interest again.

What Will My Credit Limit Be?

Following your application for a 0% card, your chosen provider should give you an insight into what your credit limit will be. It will be dependent on your circumstances as well as the provider you choose. Remember, while you might receive a sizeable credit limit on your new card, you might not pay the same rate for new purchases as you do for the initial transfer of debt. For instance, you may receive a 0% interest deal on all balance transfers for 37 months, but still be required to pay 16% interest on purchases.

Does My Credit Record Matter?

Yes. Your lender will decide your eligibility for a balance transfer, as well as credit limits and APR based on your credit record. Often, the top deals are only available to those with a clean credit record.

0% Purchases

If you're currently considering a large purchase, or you frequently use your credit card to pay for goods and services, then a 0% purchase credit card could be a great option. These cards allow you to buy big-ticket items and pay off the cost over a specific time period - without any interest. In some cases, when the 0% on purchases period lasts for a significant amount of time, you can effectively borrow money for free, so long as you clear your balance before the interest-free offer ends.

Used correctly, a 0% purchase card can be the cheapest way to borrow - however the focus lies in repaying what you owe before new charges become applicable.

What Will My Credit Limit Be?

Your chosen provider should be able to give you an estimate of what your credit limit will be following your application for a 0% purchase card. Most of the time, the amount of credit you're given will depend on your credit rating.

When Will I Need to Clear My Balance?

The downside of 0% purchase cards, is that if you go even a few days over the promotional period, your interest rate can explode. This means that you need to calculate repayments carefully to clear your balance before the promotion ends. The typical APR (annual percentage rate) for purchase credit cards is between 18% and 20%, which makes them a very expensive borrowing option if you allow your balance to build.

How Can I Make Repayments on a 0% Purchase Card?

A good way to make 0% purchases card repayments is to set up a direct debit for at least the minimum payment amounts from the moment your application is accepted. If you miss your repayments, you could lose your 0% deal, meaning your interest rates and repayments will skyrocket. Remember, clear your card balance in full whenever possible as even £1 of balance when the 0% interest rate ends can cause you to pay a full month's interest rate.

Do 0% Purchase Cards Offer Payment Protection?

One unique benefit of 0% purchase cards, is that unlike with debit or cash purchases, you should receive a level of protection in case your items are faulty or fail to arrive on time. Under consumer protection rules, you can claim back a significant amount of the costs if your purchases don't arrive, or aren't what you expected. For instance, if the airline you booked flights with went out of business, you'd get your money back - even if you only put the deposit on your 0% purchase credit card.

Does My Credit Score Matter?

Yes, the most appealing deals for purchase cards - including those with the longest periods for interest-free payments - are usually offered to people with clean credit scores. Those with restricted credit histories, or poor credit scores may not be approved for a 0% card, or may only be able to take advantage of the 0% offer for a short period of time.

What Do I Do When My 0% Period Expires?

If your 0% period expires and you have not completed your repayments, you can either continue to make monthly payments at the new rate of interest, or you can attempt to transfer your remaining debt to a balance transfer card.

Helpful links for credit card issues

Money Advice Service - The government's Money Advice Service website provides concise, unbiased information on choosing and using credit cards as well as handy tools such as credit card calculators.

The UK Cards Association - The British trade association for card payment companies has an extensive range of guides on their website covering all the types of payment cards available to UK consumers including debt, credit and prepaid cards.

Financial Fraud Action (FFA) UK - The Financial Fraud Action website features important advice on using payment cards safely and securely as well as information on the latest scams.

Financial Ombudsman Service - If you've already made a complaint to your card provider and have not had your issue resolved satisfactorily then the next step is to take up your complaint with the Financial Ombudsman.

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