Tesco's no-fee balance transfer credit card now market leader

Tesco has upped its no-fee 0% balance transfer offering to a market-leading 19 months.

Tesco has upped the 0% period on its no-fee 0% balance transfer credit card from 18 to 19 months, making it the market leader for people who want a free balance transfer.

So take out the Tesco Bank Clubcard 19-Month No-Fee credit card now and you will have until early 2017 to pay off your credit card debt.

The card also pays five Clubcard points for every £4 you spend at Tesco stores or on Tesco fuel and one Clubcard point for every £4 you spend elsewhere, although it's better to stick to using it to pay off your existing debts rather than spending on it.

How it compares

Now that Tesco tops the table, how does it shake up the rest of the low-fee card competition?

Credit card	0% period	Balance transfer fee	Fee paid on £2,000 transfer	Representative APR after 0% period ends
Santander 123 Credit Card*	23 months	None	£0	16.5%
Tesco Bank Clubcard 19-Month No-Fee Credit Card	19 months	None	£0	18.9%
Halifax 18-Month Balance Transfer Credit Card	18 months	None	£0	18.9%
Post Office Platinum	18 months	None	£0	17.8%
Virgin Money All Round Credit Card	24 months	1%	£20	18.9%

*£24 annual fee

As you can see, the Tesco no-fee card does lag behind the Santander card in that the latter offers a longer 0% balance transfer period, but the annual fee charged by the Santander card can make a real difference. You could pay absolutely nothing with the Tesco card but Santander will always have that pesky fee.

The Virgin Money All Round card does have a small balance transfer fee to pay but you get a longer balance transfer period, which is useful if you have a larger debt to repay.

If you don't feel like 24 months is enough, check out The best 0% balance transfer credit cards for our round-up of the cards with the longest 0% periods right now. The balance transfer fees will be higher though.

As always, credit card companies are only obliged to give 51% of applicants the advertised rate. If you have a somewhat blemished credit history, you’re more likely to get a poorer rate. Find out How to build an excellent credit history.

And before you sign anything, make sure you can pay off your bill promptly and in full each month or your 0% deal may be withdrawn.

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More on banking:

The best 0% balance transfer credit cards

The best low-fee balance transfer credit cards

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