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.
- 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
Important legal information
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.