Best balance transfer and 0% purchase cards

The best value balance transfer and 0% interest purchase credit cards available this week.

Choosing the right card can be a difficult task but Moneywise has sifted through the plastic to find the very best credit cards to suit a variety of spending patterns.

This round-up contains our Moneywise Best Buys, putting you in charge of your money and letting you know how to get the most out of your plastic. Before you take the plunge it is worth thinking about what you want a credit card to do and what you want to use it for.

If you will be clearing your balance in full each month, you may do better out of a cashback or reward cardIf you’re planning to travel then check our guide to the best fee-free cards to take abroad.

Top balance transfer credit cards

If you are in debt then a balance transfer card, if used properly, can be a great way to manage that debt and reduce the amount you’ll need to pay back.

Look for a card that offers a substantial 0% period, so you can clear your debt before it reverts to its normal APR and you end up paying interest. Remember 0% interest doesn't mean free - many of these cards will charge a balance transfer fee.

MBNA Platinum Credit Card
0% balance transfer for 41 months with 2.79% transfer fee, representative 18.9% APR variable

MBNA offers 0% interest on balance transfers for 41 months. The account comes with a 2.79% transfer fee.

Virgin Balance Transfer Credit Card
0% balance transfer for 41 months with 3% transfer fee, representative 18.9% APR variable

This has a promotional balance transfer offer with 41 months interest free, with a 3% transfer fee.

Post Office Money Balance Transfer Credit Card
0% balance transfer for 41 months with 3.25% transfer fee, representative 18.9% APR variable

This card has a 41 month balance transfer offer with a 3.25% transfer fee.

Halifax Balance Transfer Credit Card
0% balance transfer for 29 months with no transfer fee, representative 18.9% APR variable

If you don't want to pay any transfer fee then this card has a 0% balance transfer for 29 months and no transfer fee - the best deal on the market.

Best 0% interest purchase credit cards

If you are going to spend large amounts, find a credit card offering 0% on purchases - ideally one with a long interest-free period that charges a reasonable interest rate after the introductory deal.

AA Dual Credit Card
0% on spending for 32 months, representative 18.9% APR variable

The AA Dual Credit Card offers a 32 month interest free period for purchases. This card also has a 16 month 0% balance transfer offer, subject to a 2.89% fee.

Sainsbury’s Bank’s Nectar Purchase Credit Card 
0% on spending for 31 months, representative 18.9% APR variable

This offers a 31 month interest free period, with three months 0% interest for balance transfers (subject to a 3% fee). You’ll also earn Nectar points as you spend in Sainsbury’s, and elsewhere. 

Halifax Purchase Credit Card
0% on spending for 30 months, representative 18.9% APR variable

Halifax offers no interest on purchases for 30 months, rising to 18.9% APR. The card also offers 0% on balance transfers for up to 6 months, subject to a 3% fee.

Post Office Money Matched Card
0% on spending for 30 months, representative 18.9% APR variable

The Post Office Matched Card charges zero interest on purchases for 30 months, rising to 18.9% APR afterwards. The card also offers a 0% balance transfer period of 30 months, subject to a 2.75% fee.

Santander Everyday Credit Card
0% on spending for 30 months, representative 18.9% APR variable

This card charges no interest on purchases for 30 months, rising to 18.9% APR after this period. The card also offers 0% on balance transfers for up to 30 months, subject to a 2.75% fee.

Tesco Bank Clubcard Credit Card
0% on spending for 30 months, representative 18.9% APR variable

Tesco Bank charges no interest on purchases for 30 months. The card also offers 0% on balance transfers for up to 3 months (with a 2.9% fee).

Best credit cards for money transfers

Money transfers work similarly to balance transfers, except the cash is paid into your current account so you can use it to pay off a loan or an overdraft instead of credit card balance.

But remember to watch out for the high fees associated with these accounts - you can often pay between 3% and 4% for money transfers. 

Virgin Money All Round Credit Card 
0% money transfer for 25 months with 2% transfer fee, representative 18.9% APR variable

For the best all-rounder consider Virgin Money's money transfer credit card, this card offers a 25 month transfer period with a low 2% fee.

Virgin Money Money Transfer Credit Card 
0% money transfer for 36 months with 2.9% transfer fee, representative 20.9% APR variable

If you're looking for a longer 0% interest period then you will have to pay a higher transfer fee. Virgin Money's Money Transfer Credit Card has a 36 month transfer period but is subject to a 2.9% fee.

To see more credit cards on the market today visit the Moneywise credit card comparison tool.

Published: 01 July 2014
Last updated: 17 July 2017

Leave a comment