Compare balance transfer and purchase credit cards
Compare balance transfer and purchase credit cards
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We work with leading lenders to help you find your best options. Our average APR for credit cards is 38.4% APR representative (variable).
About balance transfer and purchase credit cards
Shift debt and make new purchases on one card
Get 0% interest on transfers and purchases
Manage your money with just one simple monthly payment
Extra protection on eligible purchases over £100
Balance transfer and purchase credit cards let you move expensive debt from other providers while also making new purchases – without paying any interest. And instead of needing to have different cards for different needs, you can keep everything in one place.
How do balance transfer and purchase credit cards work?
Sometimes known as combination (or combo) cards, these offer 0% interest on both balance transfers and new purchases for a set amount of time.
One thing to remember is that the 0% periods for transfers and purchases are often different lengths. And with one lasting longer than the other, you’ll want to make sure you don’t get caught out and start paying interest on what you owe.
How to apply for a balance transfer and purchase credit card
Work out what you need
Have a think about what the priority – do you need more time to clear the debt, or to pay off new purchases, and pick the card which best suits your needs.
Check your eligibility
Know your chances of being accepted before you apply, and keep an eye out for TotallySure offers which come with pre-approval and guarantees.
Get accepted
Once approved, you’ll receive your card within a few days. Remember that you’ll usually need to do the balance transfer within a few months of opening the account.
Make a repayment plan
Work out how much you need to pay each month to clear the transferred balance and any purchases before the 0% periods end. It’s usually best to set up a Direct Debit so you don’t miss any payments.
Types of credit card
There are a number of different types of credit card on the market, such as:
Balance transfer
If you want to cut the interest on your existing debts, a balance transfer credit card is for you. With a balance transfer credit card you can move balances you've accumulated on other credit cards and enjoy 0% interest for a set period of time.
Purchase
This is the simplest type of credit card. With a purchase card you'll get a 0% interest period for a set amount of time, allowing you to spend without accruing any interest, even if you don't pay your balance back in full each month.
Cashback
If you clear your credit card balance every month, and have no plans to build up any debt, a cashback credit card is a good option. These cards reward your spending habits by giving you a percentage of your spending back in the form of cash.
Rewards
An alternative option for people who clear their balance each month is a rewards credit card. Rather than paying you back with cash, these cards offer various forms of points in return from using them. These can range from airmiles to supermarket points.
Travel
An alternative option for people who clear their balance each month is a rewards credit card. Rather than paying you back with cash, these cards offer various forms of points in return from using them. These can range from airmiles to supermarket points.
Credit builder
If you have poor credit, a poor credit card can help you build your credit rating over time. While they have high interest rates, if you pay your balance in full each month, they can be an effective way of showing lenders you can be trusted.
What are the pros and cons of balance transfer and purchase credit cards?
There are advantages and disadvantages to having credit cards, such as:
Pros
Two cards in one - Shift debt you’re paying interest on, and make new purchases on the same card, making it simpler to manage your finances.
Stop paying interest on debt - Transferring balances to a 0% card means more of your money goes towards clearing what you owe, and not paying interest.
Interest-free spending - Spread the cost of purchases without paying interest during the promotional period.
One monthly payment - Make just one payment each month, instead of juggling multiple cards.
Section 75 - Eligible purchases between £100-£30,000 are protected if something goes wrong.
Smart payments - The card automatically pays off the balance with the higher rate first, reducing how much interest you pay.
Two cards in one - Shift debt you’re paying interest on, and make new purchases on the same card, making it simpler to manage your finances.
Stop paying interest on debt - Transferring balances to a 0% card means more of your money goes towards clearing what you owe, and not paying interest.
Interest-free spending - Spread the cost of purchases without paying interest during the promotional period.
One monthly payment - Make just one payment each month, instead of juggling multiple cards.
Section 75 - Eligible purchases between £100-£30,000 are protected if something goes wrong.
Smart payments - The card automatically pays off the balance with the higher rate first, reducing how much interest you pay.
Cons
Different 0% periods - The interest-free time for transfers and purchases will usually be different, so set a reminder to make sure you don’t get caught out.
Balance transfer fees - Remember that balance transfers usually come with a small one-off fee of 2-4%.
Shorter offers than specialist cards - Combo cards usually have shorter 0% periods than cards that focus on just balance transfers or purchases.
Can be tricky to manage - Keeping track of two different promotional periods and making sure you clear both before they end takes planning.
Temptation to overspend - Having the option to both clear debt and make purchases might encourage you to spend more than you should.
Limited options - Not as many providers offer dual credit cards, and most lenders won’t let you transfer a balance from the same bank.
Different 0% periods - The interest-free time for transfers and purchases will usually be different, so set a reminder to make sure you don’t get caught out.
Balance transfer fees - Remember that balance transfers usually come with a small one-off fee of 2-4%.
Shorter offers than specialist cards - Combo cards usually have shorter 0% periods than cards that focus on just balance transfers or purchases.
Can be tricky to manage - Keeping track of two different promotional periods and making sure you clear both before they end takes planning.
Temptation to overspend - Having the option to both clear debt and make purchases might encourage you to spend more than you should.
Limited options - Not as many providers offer dual credit cards, and most lenders won’t let you transfer a balance from the same bank.
Our expert says
“Dual credit cards can be useful if you need to cut the cost of borrowing on existing debt, while also having the flexibility to make new interest-free purchases. You’ll just need to make a clear repayment plan, and stick to it to avoid paying interest.”
“Usually, the two 0% periods will be different, which can make it a bit harder to manage. So set a reminder in advance, and work out how much you’ll need to pay each month to clear what you owe.”
“If you have a large amount of debt that you’re paying interest on, you might be better off applying for a dedicated balance transfer card. And by reducing your monthly repayments over time, you can save money which you could then use for spending. Combo cards work best when you really do need both options, and you’re able to manage both the balance transfer and purchases.”
Alastair Douglas, CEO of TotallyMoney
How to find the right balance transfer and purchase card
The best card depends on your own circumstances. You’ll need to consider if your priority is to clear debt, make purchases, and think about how much you're transferring, and if you can manage two different 0% end dates.
A combo card can make life easier for you if you need to do both. You’ll just need to make sure you’re able to manage the two different 0% periods, and that you won’t be tempted to overspend.
If your focus is on clearing debt, look for cards with longer balance transfer periods. It’s also worth looking at dedicated balance transfer options as these will usually come with longer 0% offers.
Remember that you’ll usually need to transfer any balances within 90 days of opening the account.
Just like balance transfer cards, combo cards usually let you move debt from multiple lenders. By reducing the number of payments you’re making each month, and putting an end to interest, managing your money should be simpler. Just make sure that the credit limit covers what you need to transfer.
If you feel that tracking two promotional periods might be complicated, then consider a specialist card that focuses on just one thing.
TotallySure offers come with pre-approval, guaranteed credit limits, offer lengths, and APRs. That way, you’ll know exactly what you’re getting before you apply.
Why use TotallyMoney
With TotallyMoney, you can compare credit cards from across the UK market and check your eligibility before making an application. This will help protect your credit score as you can then only apply for cards you’re likely to be accepted for. Too many rejections can have a negative impact on your credit score.
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Credit card FAQs
These cards give you 0% interest on both balance transfers and new purchases, helping you cut the cost of borrowing. For a one-off fee, you can transfer your existing debt from other lenders, and make new purchases without paying any interest. The 0% periods are usually different lengths, so set a reminder for when each one ends.
Instead of giving you a 0% offer on just transfers or purchases, you get both. But the durations are usually shorter than what you would get on a specialist card. So shop around and find the best option for your own personal circumstances.
Like specialist balance transfers, you’ll be charged a fee of around 2-4% of the amount you move.
They’re usually different, so before you apply check all your options and find the best card for your own needs.
Yes you will, on any eligible purchase between £100 and £30,000. That means your card provider shares legal responsibility with the seller if something goes wrong.
Your chances of being accepted depends on your credit history, and how well lenders think you can manage what you borrow. The best offers with the longest 0% periods will usually only be available to people with the best credit scores – so remember to check that all the information is correct on your credit report before you apply.
Once you’ve the right product, check your eligibility to find out your chances of acceptance, and look out TotallySure offers which come with pre-approval and guaranteed terms.
Most cards will give you 60-90 days to transfer the balance from the date you opened your account. After that, you might not be able to transfer, or you might find yourself paying a higher rate.
Most banking groups won’t let you transfer balances between cards they issue. So, before you apply make sure you check to see if it’s possible, otherwise you might need to find a different provider for the balance transfer.
When each promotional period ends, you’ll start paying the interest on what you owe – and that’s why it’s important to try to clear balances before the end of the 0% period.
Your card will automatically pay off the balance with the higher interest rate first – and once the 0% period ends on either part, that will become the priority.
With any credit card, it’s important to avoid overspending. Keep track of both promotional end dates, and try to clear the balances within the 0% periods.
Related articles
See more guides
How to improve your credit score
Build a better credit score to access the longest 0% offers – make payments on time and keep balances low to unlock better balance transfer and purchase deals.
Section 75 protection explained
Understand your purchase protection rights – combination cards give you Section 75 coverage on purchases between £100-£30,000 if something goes wrong.
Best credit cards
Find the right credit card for what you need – whether that’s clearing debt with a balance transfer, spreading costs with a purchase card, or both with a combination card.
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