In an attempt to put a halt to the ‘rate tarts’ that move a balance from one 0% balance transfer to the next, most credit card companies have begun to levy a ‘balance transfer fee’ on their 0% deals. This is usually around 3% of the balance transferred.

If you want to make a balance transfer without a fee, the only way is to take a non 0% deal. Assuming a typical 0% deal with 12 months 0% and a 3% balance transfer fee, this makes sense in two scenarios:

1. You will pay off your balance on the new card within 12 months and the balance transfer rate is less than 3%. Thus you effectively are paying a lower balance transfer fee.

2. You won’t pay off your balance within 12 months and the balance transfer rate is less than 3%. This is because on a normal 0% with fee balance transfer, when the 0% is up your balance is charged at the full APR of the credit card (usually 16%). At this point you should move again incurring another 3% fee which is effectively 3% every year. Thus a yearly rate of less than 3% is preferable.

So, if a non 0% no fee balance transfer credit card works for you, apply for one of the market leading offers below. Hide^