Low Balance Transfer Fee Credit Cards

  • If you are transferring a large balance you could save money by choosing a card with a low transfer fee. Compare the balance transfer fees along with interest free periods in our table below.
  • There are 34 out of 74 cards matching this search.

What type of card are you looking for?

Promotion
MBNA Balance Transfer Credit Card
  • 0% for up to 38 months from account opening on balance transfers made in the first 60 days
  • 1.44% effective fee applies on each balance transfer made in the first 60 days
  • Low Balance Transfer Fee Credit Cards FAQ

    Have you got a large balance on your credit card that you're struggling to pay off thanks to hefty interest fees? You could be able to save money by transferring your balance to a card that offers a more attractive interest rate. Some low-interest cards even offer periods of 0% interest.

    However, if you're looking to move your balance you need to find a provider with a low transfer fee. This will allow you to transfer your balance from an existing card to a different card for a small fee - usually between 1.5% and 2%. It's worth noting, however, that you will not be able to conduct a transfer if your existing card and future card are with the same provider.

    What are the different types of low transfer fee credit cards?

    Currently, there is a range of different low transfer fee and balance transfer cards available on the market that allow consumers to take advantage of more appealing interest rates. It is even possible to benefit from a 0% interest period on your balance depending on certain circumstances - so be sure to check the terms and conditions of each potential card. Remember, when looking for a low transfer fee, it's also important to consider the other perks that certain lenders may offer, as well as the interest rates you will face on your existing debt.

    What fees should I expect to pay?

    Though a low transfer fee card will offer you a lower transfer cost than other providers, you will still need to pay for your balance to be moved from one card to another. What's more, you may have to pay the same fees associated with other credit cards, including interest on the purchases that you make, and charges for missing repayments or using your card abroad.

    How long will my balance transfer take?

    Once you've chosen a low transfer fee card with an attractive interest rate, your balance should be switched over within a few days. In some cases, it may take up to two weeks for a new card to be sent out to you, however, and the speed at which your transfer takes place may also depend on how quickly you pay the initial fees.

    How can I pay off My debt after the transfer?

    Though switching to a low-interest credit card with a low transfer fee can help you to cut back on some of the costs associated with clearing your current balance, it's important to pay off your debt before the interest rate on your new card rises. For instance, if you're switching to a 0% interest card, that promotion will only last for a limited time before it raises to a standard level. A good option is to set up a direct debit calculated to clear your balance before the interest fee increases. Not only will you avoid extra costs, but you'll also reap the benefits and reassurance of never missing a payment.

    How should I make repayments on my low APR card?

    As with most credit cards, the best way to make repayments on your low APR card is to set up a direct debit for at least the minimum monthly repayment amount from the moment you are accepted.

    What will my credit limit be?

    Most providers state an 'assumed' credit limit when advertising cards. However, there is no guarantee that you will be offered this amount. Often, your provider will decide how much to lend you through an assessment of your credit history and application.

    Will my credit record matter?

    Yes, the best deals on low-transfer credit cards are available to those with a strong credit record and a reliable source of income.

    How does our comparison table work?

    Our credit card comparison tool can help you identify the right credit card for you. How you choose a credit card will be driven by what you want from it, and we have broken down those key features for easier comparisons.

    To help you, we have initially ranked our credit cards by 'Our Most Popular', i.e. the cards that our users felt most suited their needs. You can reorder the comparison according to other criteria via the drop-down box directly above the table.

    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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    About this service: Comparison tables are provided by KnowYourMoney.co.uk and is a free service to our users. The tables include providers from whom we may receive commission. For more details on how our site works click here.

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