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No Fee Balance Transfer

No Fee Balance Transfer Credit Cards

Are there any no fee balance transfer credit cards available in the UK card market in 2021.

No fee balance transfer credit cards in the UK, are those cards which do not charge the customer a fee, when making a balance transfer.

Over the last couple of years a no fee balance transfer card has become much harder to find, in the UK.

Introductory 0% balance transfer offers have grown much longer over the past ten years. As a result, more and more of the credit card companies have now imposed balance transfer fees.

This has greatly reduced the number of no balance transfer fee credit cards available to new UK credit card customers.

No Balance Transfer Fee

No balance transfer fee cards are particularly suited to customers looking to make smaller balance transfers. This is because credit cards which do charge balance transfer fees, will often charge a minimum fee. As a result, this does makes smaller balance transfers more costly, in terms of charges.

Balance transfer handling fees have been rising over the last couple of years. Average balance transfer fees are now around 2.4% across the 60 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 cards, and the very small number of no balance transfer fee cards available, generally have a slightly shorter 0% balance transfer deal, then the longest balance transfer cards available.

The following featured credit cards with no balance transfer fee are currently available online.


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Card Offers

Balance Transfers:
0% for 20 months
Balance Transfer Fee:
0%
Purchases:
N/A
Representative APR:
21.9% APR (variable)

Card Details

HSBC Balance Transfer No Fee*
  • 0% interest for 20 months on balance transfers made within first 60 days of account opening
  • No balance transfer fee applies
  • No purchases offer with this card
  • At end of promotional period, balance transfers and purchases will revert to standard variable rate
  • Contactless payments to quickly and securely pay for purchases under £45
  • Manage your card online
  • Annual Fee: None

Application Criteria

HSBC Balance Transfer No Fee*
  • You have an annual income or pension before tax of £6,800 or more
  • You are a UK resident
  • You are aged 18 or over
  • You have not held a credit card with HSBC Bank in the last 6 months
No Balance Transfer Fee
Representative Example: 21.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 21.9% p.a. (variable)
Credit is subject to status, affordability and applicable terms and conditions
No balance transfers allowed to this card from first direct, HSBC, M&S or Partnership credit cards

The following featured credit cards, do currently offer some of the longer 0% introductory offers on balance transfers. These longer 0% balance transfer cards do however, charge a balance transfer fee :-

Card Offers

Balance Transfers:
0% for 29 months
Balance Transfer Fee:
2.75%
Purchases:
0% for 3 months
Representative APR:
21.9% APR (variable)

Card Details

M&S Transfer Plus*
  • 0% for 29 months on balance transfers made within 90 days of account opening
  • 2.75% balance transfer fee, minimum £5
  • 0% on purchases for 3 months from account opening
  • Collect M&S points every time you shop anywhere in the world with your card
  • One point for every £1 you spend in M&S and one point for every £5 you spend elsewhere
  • Manage account online
  • Annual Fee: None

Application Criteria

M&S Transfer Plus*
  • You are a UK resident
  • You have an annual income or pension of at least £6,800
  • You are aged 18 or over
  • You have not held a credit card with M&S Bank within the previous 12 months
Representative Example: 21.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 21.9% p.a. (variable)
No balance transfers allowed to this card from first direct, HSBC, M&S or Partnership credit cards

Card Offers

Balance Transfers:
0% for 29 months
Balance Transfer Fee:
2.75%
Purchases:
0% for 3 months
Representative APR:
21.9% APR (variable)

Card Details

HSBC Balance Transfer*
  • 0% interest for 29 months on balance transfers made within first 60 days of account opening
  • 2.75% balance transfer fee applies (minimum £5)
  • 0% interest on purchases for 3 months from account opening
  • At end of promotional period, balance transfers and purchases will revert to standard variable rate
  • Worldwide offers and discounts with HSBC home&Away
  • Manage your card online
  • Annual Fee: None

Application Criteria

HSBC Balance Transfer*
  • You have an annual income or pension before tax of £6,800 or more
  • You are a UK resident
  • You are aged 18 or over
  • You do not hold an HSBC Basic bank account
Representative Example: 21.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 21.9% p.a. (variable)
Credit is subject to status, affordability and applicable terms and conditions
No balance transfers allowed to this card from first direct, HSBC, M&S or Partnership credit cards

Card Offers

Balance Transfers:
0% for 24 months
Balance Transfer Fee:
3%
Purchases:
0% for 4 months
Representative APR:
20.6% APR (variable)

Card Details

Co-operative Bank Balance Transfer
  • 0% interest for 24 months for balance transfers made within 60 days
  • 3% balance transfer fee, minimum £5
  • 0% interest on purchases for 4 months from account opening
  • All successful applicants will receive this exact rate and offer
  • Online account management
  • Annual Fee: None

Application Criteria

Co-operative Bank Balance Transfer
  • Only available to customers who have held a Co-operative Bank or smile current account for 1 month or more
  • You are a UK resident
  • You have annual income of £10,000 or more
  • You are aged 18 or over
Only available to Co-operative Bank customers
Representative Example: 20.6% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 20.6% p.a. (variable)
No balance transfers allowed to this card from Co-operative credit cards

Card Offers

Balance Transfers:
0% for 22 months
Balance Transfer Fee:
2.9%
Purchases:
0% for 22 months
Representative APR:
21.9% APR (variable)

Card Details

M&S Shopping Plus*
  • 0% for 22 months on balance transfers made within 90 days of account opening
  • 2.9% balance transfer fee, minimum £5
  • 0% on purchases for 22 months from account opening
  • Collect M&S points every time you shop anywhere in the world with your card
  • One point for every £1 you spend in M&S and one point for every £5 you spend elsewhere
  • Manage account online
  • Annual Fee: None

Application Criteria

M&S Shopping Plus*
  • You are a UK resident
  • You have an annual income or pension of at least £6,800
  • You are aged 18 or over
  • You have not held a credit card with M&S Bank within the previous 12 months
Representative Example: 21.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 21.9% p.a. (variable)
No balance transfers allowed to this card from first direct, HSBC, M&S or Partnership credit cards

For several years now the largest balance transfer fees have been edging up towards 3%, or more. A few years ago the longest balance transfer offer cards were charging as much as a 4% transfer fee. However the credit card companies have more recently shown signs of competing again, by offering lower balance transfer fees.

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 main HSBC balance transfer credit card:-

  • This card has a balance transfer fee of 2.85%
  • Your balance transfer fee would then be 2.85% of £1,000, which equals £28.50.

However, if you transfer £1,000 to the HSBC no fee balance transfer card, then there would be no fee to pay.

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.


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Published: October 12, 2021, Updated: October 12, 2021 by Balance Transfer Expert

All 0% balance transfer credit card offers on this website are updated daily