Balance Transfer Credit Cards

Compare Balance Transfer Offers

	Card	Balance Transfer Offer	Balance Transfer Fee	Purchase Rate / Offer	Typical APR
	Virgin	0% for 15 months	2.98%	0% for 3 months	16.6%
	Egg	0% for 14 months	3%	0% until 1 October 2008	16.9%
	Barclaycard One Pulse	0% for 14 months	2.5%	N/A	14.9%
	HSBC Bank	0% for 13 months	2.5%	0% for 3 months	16.9%
	Sony	0% for 12 months	3%	0% for 3 months	15.9%
	Natwest Platinum	0% for 13 months	2.5%	0% for 3 months	15.9%
	Natwest Gold	0% for 13 months	2.5%	0% for 3 months	15.9%
	Natwest Classic	0% for 13 months	2.5%	0% for 3 months	15.9%
	RBS Platinum	0% for 13 months	2.9%	0% for 6 months	15.9%
	RBS Gold	0% for 13 months	2.9%	0% for 6 months	15.9%
	RBS Classic	0% for 13 months	2.9%	0% for 6 months	15.9%
	MBNA Platinum	0% until September 2009	2.9%	0% until November 2008	16.9%
	Halifax One	0% for 10 months	3%	0% for 10 months	15.9%
	Virgin Atlantic	0% for 6 months from	2%	N/A	17.9%

About Balance Transfers

What to look out for
Different credit card companies offer different schemes and promotions. When making an application for a credit card, look at the conditions placed on balance transfers. Some offer 0% interest on balance transfers over 6 months, for example, whilst others offer discounted rates on the life on the balance transfer (ie. until you pay off the amount you transferred).

As and when the offer expires or your balance transfer is paid off, you should be aware of the typical APR on the credit card. When applying for a credit card, make sure that you know when the special offer comes to an end and that you understand the normal terms and charges that will apply afterwards.

Many credit card providers offer a reduced rate of interest on balance transfers. If you want to reduce the cost of debt, it is possible to move your balance from one credit card company to another with a better rate. Be aware of upfront balance transfer fees though. This will increase the balance as you transfer it - you will need to make sure that interest saved over the discounted period will more than make up for the transfer fee.