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Glossary

Credit Card Balance Transfers

Balance transfer is a transfer of a debt from one credit card onto another. Many credit card issuers offer introductory interest rates (introductory APRs) that are much lower than the standard interest rates. Consumers may take advantage of these lower rates to transfer balances from their higher interest credit cards to the new, lower interest credit cards to save money on interest charges.

Introductory 0% Offers
A number of UK credit card companies offer new customers 0% for balance transfers for an introductory period. You could save hundreds of pounds by switching your balance to a card offering 0% APR introductory rates. 

The introductory period is usually the first six months after the card was issued although some companies are now offering intro periods of 9 months or more. Introductory APR serves as an incentive for transferring balances from existing cards onto a new card. After the introductory period the interest reverts to the standard rate.
Credit cards with the longest intro 0% APR period for balance transfers

Permanent Low Rates

If you are looking for a cheap way to pay off your balance, remember that zero rates for transfers tend to be for a fixed period.  If you think your debts will take a while to clear it might be better to choose a card which offers a permanently low balance transfer rate.
Credit cards offering the longest introductory period for balance transfers are listed first. 

Card Intro Rate
Balance Transfers
Balance Transfer Fee Intro Rate
Purchases
Cashback / Rewards Typical APR
(variable)
 
NatWest Gold
8.9% for the life of the balance no fee  8.9% for nine months 2% of your remaining transferred balance will be paid into your account every six months 16.9% Details / Apply
Virgin
0% for 16 months 2.98%  0% for 3 months - 16.6% Details / Apply
NatWest Platinum
This offer is only available to current NatWest customers
0% for 15 months 2.9% - min £5  0% for 3 months - 16.9% Details / Apply
RBS Platinum
This offer is only available to existing RBS customers
0% for 15 months 2.9% - min £5  0% for 3 months - 16.9% Details / Apply
HSBC Bank
This product is only available to existing HSBC customers
0% for 15 months 2.9% - min £5  0% for 3 months - 16.9% Details / Apply
MBNA Platinum Plus
0% until July 2010 2.9%  0% until September 2009 - 15.9% Details / Apply
Halifax All In One
0% for 9 months 3% - min £3  0% for 9 months - 15.9% Details / Apply
Royal Bank of Scotland
16.9% no fee  4.9% for 9 months - 16.9% Details / Apply
NatWest
16.9% no fee  4.9% for 9 months - 16.9% Details / Apply

Credit cards offering permanently low balance transfer rates

Card Intro Rate
Balance Transfers
Balance Transfer Fee Intro Rate
Purchases
Cashback / Rewards Typical APR
(variable)
 
NatWest Gold
8.9% for the life of the balance no fee  8.9% for nine months 2% of your remaining transferred balance will be paid into your account every six months 16.9% Details / Apply
Royal Bank of Scotland
16.9% no fee  4.9% for 9 months - 16.9% Details / Apply