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Balance transfers

What is a balance transfer?

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.

Why would I make a balance transfer?

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 a promotional offer.

Find out more below.


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How do I make a balance transfer?

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. 

What else do I need to know?

How long does a balance transfer take?

After we approve it, the transfer will normally arrive by the next working day.

How much can I transfer?

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.

What’s the difference between a balance transfer and a money transfer?

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.

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Ready to make a balance transfer?

We offer two types of promotional offers on balance transfers

  1. 0% interest rate for a set period of time
    Subject to a one-off fee, typically 3%. No interest is charged during this period and the fee is added to your total balance.
  2. Low interest rate for a set period of time
    This offer typically has no fee (0%). Low interest offers could provide a cheaper way to borrow for a longer period, potentially reducing the need to regularly switch offers.

Please note

  • To keep any promotional rate, you must stay within your credit limit and pay at least the minimum payment on time each month.
  • If you only make your minimum payment each month, it will take you longer to pay back what you owe and it could cost you more in interest.
  • Interest on purchases: Purchases will only be interest free if you pay off your entire credit card balance each month including any balance or money transfers, unless you have a promotional rate for purchases.
  • Balance Transfers can only be processed from cards that are registered in your name and address.

View your balance transfer offers  

Log on to Internet Banking to see if you have a balance transfer offer waiting.

Log on to Internet Banking 

Register for Internet Banking

  • We do not accept balance transfers from other Lloyds Bank credit cards, loan companies or bank accounts
  • Balance Transfer applications are subject to eligibility and security checks but these will not leave a footprint on your credit file
  • Keeping promotional rates - To keep any promotional rates that go with your balance transfer, you must always stay within your credit limit, and make your payments on time each month
  • After your promotional period ends, you will be charged the standard interest rate, which can be confirmed on your statements
  • Low interest offers charge interest daily, we add together all the daily interest amounts in each statement period and add the total to your balance on your statement date
  •  Payment allocation - we use your payments to pay off the balances charged at the highest interest rate first, so your more expensive balances are paid sooner. Your payment will include any interest or charges incurred as a result of those balances
  • Other borrowing options - Before you apply for a balance transfer it's worth considering other ways to borrow, as well as any savings you may have, as these could be better options for you. Read more about other ways to borrow.
  • You can transfer from any card that displays a Visa, Mastercard® or Amex logo