There is lots of choice in the UK credit card market, although not as much as there was several years ago. We currently list around 60 0% balance transfer credit cards. These cards have 0% introductory rates of up to 31 months on balance transfers.
This may seem like a huge number of credit cards to choose from. However, you may have far fewer credit cards available to actually make a choice from. This applies especially, if you wish to transfer a balance from your current credit card.
This is because the card companies will not allow balance transfers from credit cards, which are issued by the same company. This applies to cards with a different brand name, but issued by the same company.
Consider the following example:-
You apply for a new credit card and get accepted. You then find out that you can not make a balance transfer, because your current credit card and your new credit card are issued by the same company. Obviously this will be very frustrating.
In many cases when you are looking for a new balance transfer credit card, it is not always immediately obvious who the issuing credit card company behind each credit card actually is. Often the name can be buried in the small print of the card site.
Alternatively, it may be found in the balance transfer terms and conditions of the card agreement. The name is not always easily found.
For Balance Transfers Be Brand Aware
Did you know that the First Direct card and all of the M&S balance transfer credit cards are both issued by HSBC Bank for example? You can not transfer a balance from a First Direct credit card to a M&S credit card, or vice versa.
However, here at Balance Transfer Expert, we have done all the hard work. We know which credit card issuer is behind each brand.
All of the credit cards listed on our site clearly show, in the main tab, those cards which you are not allowed to make a balance transfer from.
You can make a Mastercard to Mastercard balance transfer, for example. This is provided that the two cards are from different credit card companies.
Read more of the latest balance transfer tips from Balance Transfer Expert.