The Fluid 0% balance transfer credit card increases to 24 months

Fluid is now offering a two-year 0% balance transfer period. So how does it compare?

The balance transfer war is still going strong and Fluid has now joined in by increasing its 0% balance transfer card to 24 months.

This is an increase from 23 months and brings it further towards the top of the tables. The fee of 2.89% pushes it just above similar cards from NatWest and RBS, which also offer 24 months but charge 2.9%.

Fluid's card has the added bonus of a three-month 0% purchase period, but there are cards with longer balance transfer periods on the market.

The deal

Fluid has upped its balance transfer offering to 24 months giving customers a longer period to pay off expensive debts when transferring them over to this card.

The fee is 2.89% which means you would have to pay £57.80 when transferring over a debt of £2,000 onto the card.

It’s a good option for people who might already have a card from some of the leading providers but as Fluid is issued by MBNA you won’t be able to move over money from an existing BMI, MBNA, Virgin or Fluid card.

Another selling point is the ability to apply for the card without the application making a mark on your credit score. The 'Apply with Confidence' tool is the first of its kind and allows you to find out the likelihood of acceptance for the card before filling out any application forms.

It also offers the longest money transfer (where you move money from the card to your bank account, as a way of paying off your overdraft) period around.

However, there are cards around with longer balance transfer periods, as you can see from the table below.

The longest balance transfer credit cards

Card

0% period

Balance transfer fee

Fee paid on £2,000 transfer

Representative APR after 0% period ends

Barclaycard 26-Month Platinum Visa

26 months

3.5%

£70

18.9%

Barclaycard 25-Month Platinum Visa

25 months

2.4%

£48

18.9%

Halifax 25-Month Balance Transfer Card

25 months

2.5%

£50

18.9%

Tesco Clubcard Credit Card for Balance Transfers

25 months

2.9%

£58

16.9%

Fluid 24-Month Balance Transfer Credit Card Visa

24 months

2.89%

£57.80

16.9%

Paying less to transfer debt

The 2.89% fee with the Fluid card is competitive but there are cheaper cards around. The problem with cards with a lower fee is that the balance transfer period is also reduced.

If you’re not moving much money over, and happy with a shorter 0% balance transfer period, these cards may be for you. For example, the top card from Halifax has only a 1% fee so you’d be paying £20 when moving over £2,000.

Below I’ve listed the top five cards with the lowest balance transfer fees.

The top 0% cards with low balance transfer fees

Credit card

0% period

Balance transfer fee

Fee paid on £2,000 transfer

Representative APR after 0% period ends

Halifax All In One Online MasterCard

15 months

1%

£20

17.9%

NatWest Platinum Low Balance Transfer Fee

13 months

1%

£20

17.9%

Royal Bank of Scotland Platinum Low Balance Transfer Fee

13 months

1%

£20

17.9%

Lloyds TSB Platinum MasterCard

21 months

1.5%

 £30

 17.9%

Barclaycard Low Balance Transfer Fee Visa

16 months

1.5%

£30

 18.9%

Fluid Card

15 months

1.5%

£30

15.9%

How to use a balance transfer card

The idea of a two-year break from expensive interest payments sounds like a great option if you’re struggling to pay off your credit card debt.

But there is a catch because if you miss a payment during the balance transfer time you’ll be penalised either through the 0% interest period being cut, the APR going up or through a penalty fee.

There’s also a chance it’ll make a black mark on your credit score which means it’ll be harder to get credit approvals in the future.

Therefore it’s vital you follow the rules and try to pay off the debt during the 0% period. Once it ends the interest payments will kick in and although there is an option of switching the debt at this point to another card there is no guarantee you’ll be accepted.

More on credit cards:

The best 0% balance transfer credit cards

Why making credit card overpayments will actually cost you!

Why cashback credit cards are the best cards

Debit cards vs credit cards

The best credit cards to use on your travels

The best reward credit cards

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