No Fee Balance Transfer Credit Cards

No Fee Balance Transfer Credit CardsAre there any no fee balance transfer credit cards available in the UK credit card market in 2018?

Over the last couple of years no fee balance transfer credit cards have become an extremely rare occurrence.

Introductory 0% balance transfer offers have got longer and longer in recent years. As a result, more and more of the credit card companies have now imposed balance transfer fees. This has reduced the number of no fee balance transfer credit cards.

Balance transfer cards with no fees are particularly suited to customers looking to make smaller balance transfers. This is because credit cards with balance transfer fees will often charge a minimum fee. This makes smaller balance transfers more costly.

No Fee Balance Transfer Credit Cards

At Balance Transfer Expert, we currently have over 80 MasterCard, Visa and American Express 0% balance transfer credit cards available for online applications. However, until quite recently none of these credit cards were available as no fee balance transfer credit cards.

The are however now several recently introduced featured 0% balance transfer credit cards currently available as a no fee balance transfer credit cards for online credit card customers :-

Card Offers

Balance Transfers:
0% for 12 Months
Balance Transfer Fee:
0%
Purchases:
0% for 12 Months
Representative APR:
17.9% APR (variable)
More Information

Card Details

Nationwide Credit Card just for Nationwide members*
  • 0% on balance transfers for 12 months from account opening
  • 0% balance transfer fee within first 3 months, 2.4% fee applies after, minimum £5
  • 0% on purchases for 12 months from account opening
  • Commission free allowance on purchases abroad (subject to terms)
  • Manage account online
  • Annual Fee: None
More Information

Application Criteria

Nationwide Credit Card just for Nationwide members*
  • Our credit cards are just for members. Youre a member when you have a current account, mortgage or savings account with us
  • You have been living in the UK for the last 12 months
  • You have a gross income each year of more than £5000
  • You have a good credit history
  • You are aged 18 or over
More Information
Representative Example: 17.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 17.9% p.a. (variable)

Card Offers

Balance Transfers:
0% for 12 Months
Balance Transfer Fee:
0%
Purchases:
0% for 12 Months
Representative APR:
15.9% APR (variable)
More Information

Card Details

Nationwide Select Credit Card just for Nationwide members*
  • 0% on balance transfers for 12 months from account opening
  • 0% balance transfer fee within first 3 months, 2.4% fee applies after, minimum £5
  • 0% on purchases for 12 months from account opening
  • Unlimited commission free purchases abroad
  • Manage account online
  • Annual Fee: None
More Information

Application Criteria

Nationwide Select Credit Card just for Nationwide members*
  • Our credit cards are just for members. Youre a member when you have a current account, mortgage or savings account with us
  • Our credit card exclusively for members with a main current account
  • You have been living in the UK for the last 12 months
  • You have a gross income each year of more than £5000
  • You have a good credit history
  • You are aged 18 or over
More Information
Our credit card exclusively for members with a main current account
Representative Example: 15.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 15.9% p.a. (variable)

Lowest Balance Transfer Fee Credit Cards

Balance transfer handling fees have been rising over the last couple of years. Average balance transfer fees are now around 2.4% across the 80 or so, UK balance transfer credit cards currently available.

The lowest balance transfer fee credit cards in the UK come with balance transfer fees of 1.5% or lower. These lowest balance transfer fee credit cards, generally have a slightly shorter 0% balance transfer deal then the longest balance transfer cards available.

The following featured credit cards, do currently offer some of the longer 0% introductory offers on balance transfers.  These cards, unlike the no fee balance transfer credit cards above, do charge a balance transfer fee :-

Card Offers

Balance Transfers:
0% for 32 Months
Balance Transfer Fee:
0.99%
Purchases:
0% for 6 Months
Representative APR:
19.9% APR (variable)
More Information

Card Details

M&S Transfer Plus*
  • 0% for 32 months on balance transfers made within 90 days of account opening
  • 0.99% balance transfer fee, minimum £5
  • 0% on purchases for 6 months from account opening
  • Collect M&S points every time you shop anywhere in the world with your card
  • Preferential rates when you use your card to order M&S Travel Money
  • Manage account online
  • Annual Fee: None
More Information

Application Criteria

M&S Transfer Plus*
  • You are a UK resident
  • You have a UK bank or building society account
  • You are aged 18 or over
  • You have not held a credit card with M&S Bank within previous 12 months
More Information
Representative Example: 19.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 19.9% p.a. (variable)

Card Offers

Balance Transfers:
0% for 32 Months
Balance Transfer Fee:
1.4%
Purchases:
0% for 3 Months
Representative APR:
19.9% APR (variable)
More Information

Card Details

HSBC*
  • 0% interest on balance transfers for 32 months made within 60 days of account opening
  • 1.4% balance transfer fee (minimum £5)
  • 0% interest on purchases for 3 months from account opening
  • At the end of 0% offer period, balance transfers and purchases will revert to standard variable rate
  • home&Away rewards programme giving you instant discounts from well-known brands
  • Online account management
  • Annual Fee: None
More Information

Application Criteria

HSBC*
  • You have an annual income or pension before tax of £8,500 or more
  • You are a UK resident, including Isle of Man and Channel Islands
  • You are aged 18 or over
  • You do not hold an HSBC Basic bank account
More Information
Representative Example: 19.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 19.9% p.a. (variable)
Credit is subject to status

For several years now the largest balance transfer fees have been edging up towards 3% or even close to 4%. However the credit card companies have more recently shown signs of competing again, by offering lower balance transfer fees, even with long introductory balance transfer offers.

What Is A Balance Transfer Fee?

A balance transfer fee is a fee that the card company will charge the customer when the customer transfers an outstanding balance from one credit card to another card.

The average balance transfer fee is currently around 2.4% of the amount of the balance transfer. Many credit card companies will charge a minimum fee of around £3 to £5 depending on the card.

If for example, you transfer a balance of £1,000 to the above Marks and Spencer balance transfer credit card:-

  • This card has a balance transfer fee of 0.99%
  • Your balance transfer fee would then be 0.99% of £1,000, which equals £9.90.

The balance transfer fee is only payable to the card company that the customer is moving the outstanding balance too. There is no balance transfer fee charged by the card company that the balance is being transferred from.

Balance transfer fees were introduced by the credit card companies to recoup some of the cost of providing longer 0% interest deals.


Related Content From Balance Transfer Expert:-

Today Balance Transfer Expert has:-

78 UK 0% balance transfer credit cards offering:-

  • 0% balance transfers for up to 35 months with a 2.85% fee
  • 0% balance transfers for up to 32 months with a 0.99% fee