What are 0% Balance Transfer Cards?
These are cards that allow you to transfer a balance to another card without having to pay the usual upfront transfer fees which are usually around 1-4%. Depending on how much balance you want to transfer, it could save you a lot of money.
How do no-charge balance transfer cards work?
No-charge balance transfer credit cards work the same as any other balance transfer credit card, but they don’t charge an upfront fee to transfer your balance.
A balance transfer card allows you to transfer existing credit card debt to it. Many typically offer a 0% interest period so that you can avoid paying interest on your card debt for a set period of time which can be 12 months or more.
What are the benefits of a free balance transfer credit card?
Obviously, the main benefit is that you don’t need to pay an upfront fee for transferring your balance.
If you are notified and pay off your credit card balance in full before the 0% interest period expires, you may be able to avoid paying all of your card fees, which will save you money. ‘silver.
What is the downside of a 0% charge balance transfer credit card?
While it’s free to transfer your existing card debt, no-charge balance transfer cards typically have a 0% shorter interest offer than their fee-based counterparts.
So if you’re not careful, you could easily slip into paying interest when the 0% interest period expires.
The trick to successfully avoiding paying interest on card debt is to simply divide the amount you owe by the length of the remaining 0% period and set up direct debits for that amount each month.
How to find a free balance transfer credit card
Filter the tables by “transfer fee” to find balance transfer cards that charge zero for the initial transfer fee.
In addition, it is important to understand the difference between initial and actual costs. Many cards charge an upfront fee that is refunded after you make your first refund, the post-refund charge is the actual charge.
Some cards may have an effective 0% fee but will charge an upfront fee, so it’s worth checking the fine print and comparing carefully. Try to calculate the overall cost of paying off the balance you are transferring in order to find the best deal.
What are the best deals?
One way to sort our table is by ‘best deals’, in which we highlight which cards are the market leaders for particular features. For example, of all credit cards that charge no transfer fees, the one that offers the best overall deal may be a top notch offer called “No Transfer Fees”.
We do this to emphasize that it is best in class on Uswitch. We check these deals weekly to make sure they really are the best on Uswitch in this area, so you can rest assured that our best deals are just that – the best deals on Uswitch.
What does “most popular” mean?
When we use the term “most popular” on Uswitch in reference to credit cards, these cards are ranked based on the number of clicks they have received on the site in the last 48 hours.
The most clicked cards are at the top, the least at the bottom. This reflects their popularity with visitors to Uswitch.com. Therefore, this is a good table to look at if you want to see which cards most people think are worth buying.
Does Uswitch compare all the credit cards on the market?
We compare credit to over 100 credit cards from major banks and credit card providers.
However, we do not compare all of the credit cards available in the UK.
This is because some credit card providers have offers that are only available through their own website or branch, or through other comparison websites – similarly, some credit cards are exclusively available through Uswitch.
There are also many credit cards that are only available to members of member organizations and clubs.
What does it mean if a card is listed as an “advertisement” or “promotion”?
We sometimes receive payments from card providers to display their cards in prominent places.
These are advertisements and are designed to be distinct and separate from other cards in our comparison charts. We hope this makes it clear which cards are top notch offers and which cards are paid for promotions.