The battle to top the best buy table rages on, which is good news if you have some card debt to pay off.
There has been another round of changes at the top of the 0% balance transfer credit card table as the card companies continue to try to outdo each other.
First, Barclaycard increased the balance transfer fee payable on its 28-Month Platinum card from 2.99% to 3.5%. However, it also announced a £20 refund if you transfer a balance of £1,000 or more from another credit card.
[SPOTLIGHT]So if you transfer a balance of £2,000, you’ll pay £50, as the £70 fee will be refunded by £20. The Platinum 28-Month card offers the longest interest-free period out there.
Then Halifax reduced the balance transfer fee on its 27-Month card to 2.5%, meaning on a transfer of £2,000 you’d pay £50.
So this is how these changes affect the 0% balance transfer credit card best buy table.
|
Card |
0% period |
Balance transfer fee |
Fee paid on £2,000 transfer |
Representative APR after 0% period ends |
|
28 months |
3.50% (£20 refund on transfers of £1,000 or more) |
£50 |
18.9% |
|
|
27 months |
2.50% |
£50 |
18.9% |
|
| Halifax 27-Month Balance Transfer |
27 months |
2.50% | £50 | 18.9% |
|
27 months |
2.64% |
£52.80 |
18.9% |
|
|
27 months |
2.64% |
£52.80 |
18.9% |
|
|
27 months |
3.15% |
£63 |
16.9% |
|
|
26 months |
2.40% |
£48 |
15.9% |
|
|
26 months |
2.40% |
£48 |
17.9% |
|
|
26 months |
2.89% |
£57.80 |
18.9% |
|
|
26 months |
2.99% |
£59.80 |
17.9% |
*Open to new and existing current account customers only
As you can see, if you have some Barclaycard debt to transfer then there are plenty of decent options.
Shorter 0% periods with lower fees
If you think you could pay off your debt in two years, then the Bank of Scotland Platinum, Lloyds Bank Platinum and TSB Platinum cards all charge just a 1.5% fee.
If you only need 15 months, then you could pay just 0.8% to move to either the Halifax All In One card, Lloyds Bank Platinum 15-Month or TSB Platinum 15-Month.
What to watch out for
You should be aware that unless you've got a good credit rating you're not likely to be accepted for any of the credit cards featured above.
You could instead try the Barclaycard 18-Month Platinum, which accepts people with limited or not perfect credit records.
Whichever card you go for, make sure you make the minimum repayment each month or you'll be penalised and could lose your 0% deal.
Compare 0% balance transfer credit cards