money.co.uk, Dot Zinc Limited, 160 Fleet Street, London. EC4A 2DQ. We are a Credit Broker for all consumer credit products promoted on money.co.uk.
We provide an independent comparison service free of charge but we may receive a commission from some of the companies we refer you to. These are indicated with purple buttons.
There are lots of balance transfer no fee cards on the market which means that more of the pennies you pay goes towards getting rid of your debt, rather than being swallowed up by transfer charges. And you might just find that you are much better off in the long run, despite having a new credit card in your wallet!
We take a look at some of the factors you should consider in order to find the best no fee balance transfer credit cards.
After a period when no fee balance transfer cards vanished from the market, they are slowly making a comeback.
If you find a provider willing to offer no fee balance transfers on credit cards you should check the rate of interest payable as unfortunately the chances are you will have to pay one or the other.
But that doesn't mean that balance transfer no fee offers are worthless. Although you will have to swallow interest payments, switching your debts under a credit card balance transfer offers no fee deal means that you can shop around for a provider who charges you less interest that your current card issuer.
The best credit card deals for no fee balance transfers are those which offer the lowest rate of interest, thereby allowing more of your cash to go towards clearing your debts.
However, when you compare balance transfer no fee credit cards, it's important to look beyond the headline rate as otherwise you could get caught signing up for a deal which works out more expensive in the longer term.
There is lots of competition in the market for credit card for balance transfers with no fee and providers are competing against each other for business. This can only be great news for the consumer as this kind of situation drives down costs.
But providers know that offering a balance transfer no transaction fee isn't enough to attract customers so many offer introductory rates of interest too. This can mean that the APR on your balance transfer is very low but after the introductory period expires, it can shoot up. You might even end up with an interest rate higher than what you are already paying!
Therefore, particularly if you plan on using your card for new purchases, it's essential to check what the interest rate is for new spending as well as how long the introductory deal will last before reverting to the 'normal' APR.
Credit cards can be a cheap and flexible way to borrow money. But with so many different cards on the market, a host of rules and potentially high charges, you need to be on the ball.
How to find the perfect credit card for you
What's the best way to pay your credit card bill?
Should you get a 0% purchase credit card?
Can you transfer money from a credit card to a bank account?
Can I transfer money from my credit card?
Driving someone else's car is a big responsibility so making sure you've got the right insurance is vital, but can you even insure a car if you're not the registered keeper? Here's what you need to know.
If you've inherited some money, received an unexpected windfall or saved up a tidy sum, knowing what to do with the money can be tricky. Here's what to do if you have a significant amount to invest.
Helping your children out financially is something every parent would like to do, but you need to be careful if you don't want them to face a hefty bill from the taxman. Here's what you need to know.