Best balance transfer and 0% purchase cards

Published by Adam Williams on 01 July 2014.
Last updated on 08 November 2017

Current account switching – the winners, the losers, and the best deals

Whether you're planning a big purchase or want to reduce the amount you pay in interest, there are a range of credit cards to suit a variety of spending patterns. 

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 card. If you’re planning to travel then check our guide to the best fee-free cards to take abroad.

This round-up contains our Moneywise Best Buys for balance transfer, money transfer and 0% interest cards - putting you in charge of your money and letting you know how to get the most out of your plastic. 

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.

Tesco Bank Clubcard Credit Card
0% balance transfer for 39 months with 2.69% transfer fee, representative 18.9% APR variable

This card has a 39 month balance transfer period with a 2.69% transfer fee.

Nuba Transfer Credit Card 
0% balance transfer for 39 months with 3.49% transfer fee plus £20 Amazon voucher, representative 18.9% APR variable

This has a promotional balance transfer offer with 39 months interest free, with a 3.49% transfer fee. You'll also get a £20 Amazon voucher when you sign up.

Sainsbury's Bank Nectar No Balance Transfer Fee Credit Card
0% balance transfer for 28 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 28 months and no transfer fee - the best deal on the market.

Longest 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.

Sainsbury’s Bank Nectar Purchase Credit Card
0% on spending for 31 months plus up to £50 in Sainsbury's vouchers, 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. 

New customers opening an account before 28 December 2017 will also earn 1,000 bonus Nectar points - worth £5 - each time they spend £35 or more on Sainsbury’s shopping on the card. You can do this up to 10 times in the first two months after account opening, meaning a potential reward of £50.

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

This card offers a 30 month interest free period for purchases. This card also has a 30 month 0% balance transfer offer, subject to a 2.75% fee.

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

The Post Office Money Matched Card offers a 30 month interest free period for purchases. This card also has a 30 month 0% balance transfer period, with a 2.75% 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. 

MBNA Platinum Credit Card
0% money transfer for 39 months with 3.45% transfer fee, representative 18.9% APR variable

If you're looking for the longest 0% interest period then you will have to pay a higher transfer fee. MBNA's Platinum Credit Card has a 39 month transfer period but is subject to a 3.45% fee.

Virgin Money Balance Transfer Credit Card
0% money transfer for 20 months with 1.9% transfer fee, representative 20.9% APR variable

For a good all-rounder consider Virgin Money's credit card, this card offers a 20 month transfer period with a low 1.7% fee.

How are Moneywise Best Buys selected?

We look across as much of the market as possible to find the best deals using industry data from Defaqto.

All our picks are nationally available - online, by post or by phone. We try and pick products that are available to both new and existing customers, but we’ll highlight some offers for existing customers if they’re much better than what else is on offer.

We select accounts which offer the longest 0% purchase, balance transfer and money transfer periods - while also taking into account the interest rate after this period. We prioritise cards that do not charge a monthly fee.

We reserve the right to use our discretion at all times.