A balance transfer is when you move the balance from a credit or store card to another credit card.
Watch this short video if you want to know more.
Some customers want to keep all their credit card balances in one place. A balance transfer can let you do this. Also, a balance transfer could help you save on interest as they often come with an introductory offer.
Find out more below.
If you’re eligible, you’ll find your balance transfer offers when you log on to Internet Banking. Then, just follow the simple on-screen instructions.
Make sure you have the card details of all the balances you want to transfer and you understand the terms and conditions.
If your available credit limit isn’t sufficient to complete the transfer, you can apply for a credit limit increase online. Simply select the ‘More actions’ button on your credit card account and then the ‘Manage credit limit’ button.
After we approve it, the transfer will normally arrive by the next working day.
The minimum balance you can transfer is £100. The maximum will need to be less than your available credit limit. This is to allow for any balance transfer fee plus any other fees or transactions. You cannot transfer a balance from other Lloyds Bank credit cards, loan companies or bank accounts.
Balance transfers are about moving credit or store card balances to a different credit card. A money transfer lets you transfer money from your credit card to any of your own UK-based current accounts. To find out more, visit our money transfer page.
We offer two types of promotional offers on balance transfers
1. 0% p.a. interest rate for a set period of time
Subject to a transfer fee. No interest is charged for a set period and the fee is added to your total balance.
2. Longer term low interest rate
This offer typically has no fee (0% p.a.). A low rate of interest is then charged for a set period of time, usually longer than the 0% interest rate offers, potentially reducing the need to regularly switch offers.
We want you to find a product that's right for your circumstances, which is why we adhere to the Standards of Lending Practice, which are monitored and enforced by the Lending Standards Board.
To find out more you can read the statement of responsibilities, which details what's expected of us, the lender and you the borrower.
Lloyds Bank plc. Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no. 2065 Lloyds Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278.