Transfer and save on interest
Get 0% interest on:
- Balance transfers for up to 18 months
- Purchases for 3 months
Plus...
- Up to £8,000 starting credit limit
- Maximum 3% transfer fee
Representative example: Assuming a credit limit of £1,200 and an interest rate on purchases of 34.94% p.a. variable, you will receive a 34.9% APR representative variable.
What is a balance transfer credit card?
Balance transfer credit cards let you move a balance from one credit card to another, usually with a lower interest rate.
Here's how it could work
Our balance transfer guarantee
We'll let you know if your available credit limit covers the amount you want to transfer, before you apply.
It's easy to check if you're eligible
Tell us your transfer amount
We’ll tell you if it’s approved
Continue with confidence
FAQs about our 0% balance transfer credit cards
Everything you need to know about balance transfer credit cards. And more.
What is a balance transfer credit card?
Balance transfer credit cards let you move an existing balance from a UK credit card to a new Capital One card. Moving your balance to a balance transfer credit card could mean you'll pay less in interest, and save money in the long run.
If you get a 0% interest offer, and you haven't cleared your balance before it ends, you'll be charged interest on what's remaining.
How can I apply for a balance transfer credit card?
It's super simple. Just tell us how much you'd like to transfer over, then answer a few questions about your circumstances.
We'll then do a quick affordability check to find out if you're eligible for our 0% balance transfer credit card, as well as our other cards. You'll also get a quick yes or no to let you know if you can transfer your existing balance.
If you are eligible, you can read through all the information and decide if you want to apply for a balance transfer credit card.
Does it cost anything to do a balance transfer?
Balance transfer credit cards normally come with a one-off transfer fee for moving a balance from one card to another. The fee is usually shown as a percentage of the amount you're transferring and can differ from card to card.
Here’s an example of how the fee could work:
If you transfer a balance of £500 using a balance transfer card with a 3% fee, this will work out to a one-off charge of £15.
With us, you'll never be charged more than a 3% transfer fee. Some balance transfer credit cards do, however, so make sure you check the terms and conditions when you apply.
What are some benefits of balance transfer credit cards?
There are pros and cons when it comes to taking out a balance transfer card, as with any sort of credit card, so it's important to consider your individual circumstances.
Potential benefits of balance transfer credit cards:
- Helps you save on interest and pay your balances off sooner.
- You can combine balances from multiple cards, which could make your overall debt easier to manage.
- Credit cards can be useful for unexpected or emergency costs.
Things to remember about balance transfer credit cards:
- Make a note of when your interest free period ends to avoid paying more in interest.
- If you only pay the minimum amount each month, your balance could take a long time to pay back, which could cost you more in interest over time.
- If used irresponsibly, a balance transfer card can negatively affect your credit score, making it harder to borrow in the future.
Will a balance transfer credit card affect my credit score?
When you apply for a balance transfer credit card, the lender will run a hard check on your credit history. These types of searches will impact your credit report, so it's important to use an eligibility checker like QuickCheck before you apply.
If you use your balance transfer card responsibly, your credit score should improve over time. It's important to keep up to date with payments – even if you're in a 0% period, you'll still need to make the minimum payment. And just remember, not using your card responsibly could hurt your credit score. This could mean you're less likely to be offered a credit limit increase.
It's even worth paying over the minimum if you can, as this will show lenders you can manage your finances well.
Who can apply for a 0% balance transfer credit card?
Any UK resident over 18 can apply for a balance transfer card, but not everyone will be eligible.
You’re more likely to be accepted for a balance transfer credit card if you:
- have a history of managing credit, including things like loans and mobile phone contracts
- are on the electoral roll
- haven't declared bankruptcy in the last 12 months