Balance transfer cards can be useful tools for those who need to transfer balances from one or more cards to another. Usually, this type of credit card offers lower interest rates on balance transfers. 

So, you will pay less than when paying off your balance on a traditional credit card.

However, not all balance transfer credit cards offer good deals. Also, not all of them feature rewards and bonuses at low fees.

Fortunately, the list below shows the best offerings available on the market. Then, compare the cards and choose the best for you!

A balance transfer credit card is a type of card that allows you to transfer existing debt from one or more cards into another credit card. So, you will be able to consolidate your debt and potentially save money on interest.

Generally, once you transfer your outstanding balance to a balance transfer credit card, you might take advantage of an introductory 0% interest period. 

Therefore, this might provide you with some savings regarding interest since traditional credit cards charge high interest on debts.

Basically, you will save now for the long run.

However, it is important to note that balance transfer credit cards may come with some fees and other charges, such as an annual fee.

Thus, it is essential to consider the total amount of costs when comparing and evaluating whether a balance transfer card is the right choice for you. 

In addition, it is crucial to be attentive to the terms and conditions of the introductory 0% interest or lower rate period, as the interest rate may increase significantly after the introductory period ends.  

Now that you know how a balance transfer card works, it is time to compare the best and choose the right card for your needs, objectives, and budget!

Tesco Bank Balance Transfer Credit Card offers one of the longest introductory 0% interest periods. You can get up to 30 months of 0% interest plus 0% interest on money transfers for the first 9 months.   

Also, there is no annual fee.

Even though there are no welcome bonuses, Tesco offers rewards on purchases.

In summary, you will earn 5 Tesco Clubcard point per £4 spent (£4 minimum) at Tesco plus 1 Clubcard point per £8 spent (£8 minimum) outside of Tesco.

Capital One offers one of the best customer services. Additionally, you will get up to £8,000 credit limit with a maximum 3% transfer fee.

The card gives 0% interest on balance transfers for up to 24 months and on purchases for up to three months.

On the official website, you can estimate the costs before deciding to apply for this credit card, as well. 

Sainsbury’s offers a balance transfer credit card called Sainsbury’s 26 Month Balance Transfer Credit Card.

In essence, this card is another amazing option for those who are looking to reduce the costs of interest for a long introductory period.

Also, the card offers rewards at no annual fee.

So, you will earn up to 3 points per £2 in Sainsbury’s, Argos, Habitat & Tu clothing once you pay with a Sainsbury’s Bank Card and swipe or scan your Nectar card and 1 point per £5 elsewhere.

On the other hand, if you want to get more security features, including full fraud protection and 24/7 call centers, an MBNA Balance Transfer Credit Card might be worth considering.

Generally, MBNA cards are good for unexpected bills since they offer flexible payment options along with amazing banking services.

Virgin Money offers fantastic customer service. Besides, you can get rewards in the app. In fact, the app is one of the most user-friendly platforms available.

Plus, Virgin Money provides an eligibility checker, in which you can get an advanced response on whether you would be approved or not.

Finally, this credit card might be a great deal for those carrying interest on store cards.

As can be seen, balance transfer credit cards might be good options for those who are looking to reduce costs and save on interest.

In summary, you can transfer the outstanding balance from one card that charges higher interest to another that lets you save on that.

Basically, you will consolidate debts. Now, if you have a different purpose like you are trying to build your credit score, then it is important to find out which cards allow you to do that.

But first, it is crucial to consider the reason why you need a credit card. In case you really need to build your creditworthiness, a balance transfer credit card may not be the best deal for you.

On the other hand, there are many other options available to help you out with your objective. That’s why it may be challenging to choose one.

Many say that store cards are the best when it comes to building credit. Others prefer to consider traditional credit cards.

Well, although getting a store card may be easier since there are only a few eligibility requirements, interest, and fees can be way more expensive.

The full list of the differences between a store card and a credit card, as well as the list of advantages and disadvantages, is right in the following article. Check it out!