Balance Transfer Savings Calculator
Calculate interest savings from transferring your credit card balance to a 0% promotional deal.
Balance Transfer Saving
Frequently Asked Questions
Balance transfer savings depend on your balance size and existing interest rate. A £5,000 balance at 24.9% over 24 months saves ~£2,400 interest, minus a 3% transfer fee (£150) = £2,250 net saving.
Top UK balance transfer cards in 2025/26 offer 0% for 24-30 months with fees of 0-3.99%. Cards from HSBC, Barclaycard, NatWest, and Sainsbury's Bank regularly feature in best-buy tables.
Most 0% balance transfer cards charge a one-off fee of 0-3.99% of the transferred amount. Some cards offer 0% fee promotions (usually for shorter 0% periods). Compare total cost: fee vs interest saved.
The remaining balance reverts to the standard rate (typically 20-30% APR). Set up a direct debit to pay off the balance in equal monthly installments before the promotional period ends.
Yes, a hard credit check is performed when you apply. This may temporarily reduce your score. Multiple applications in a short period have a more negative impact.
No. Balance transfers must be between cards from different lenders. You cannot transfer a Barclaycard balance to another Barclaycard product, for example.
Most 0% balance transfer cards require a good to excellent credit score (700+). Cards for fair credit typically offer shorter 0% periods or higher fees.
The 0% offer usually only applies to transferred balances, not new purchases. Purchases may attract the standard APR. Use a separate 0% purchase card for new spending.
Most cards require a minimum payment of 1-2% of the balance or £25, whichever is higher. Pay more than the minimum to ensure the balance is cleared before the 0% ends.
For shorter-term debt (12-30 months), a 0% balance transfer is often the cheapest option. Personal loans may be better for larger amounts, longer terms, or if you need a single fixed monthly payment.
Yes, subject to your credit limit. You can transfer from multiple cards simultaneously, usually within 60-90 days of opening the new card.
Keep the old card open but don't use it (leaving a small balance or using it occasionally helps maintain a positive credit utilisation). Closing it immediately could hurt your credit score.