Balance transfers
- A balance transfer allows you to move your existing debt (balance) from one or multiple credit cards and some store cards, to a single credit card, so all your existing balances are in one place. If you transfer the balance to a lower interest credit card, you may be able to pay less interest, saving you money and paying your balance off faster.
- You can request a balance transfer from most other credit cards and some store cards, as long as they’re in your name, registered to the address we have for you and display the Mastercard®, American Express® or Visa® logos, but not from loan companies, bank accounts or other Lloyds Bank credit cards.
- Continue to make payments to your other cards as usual until transfers show on your statements for each account.
Money transfers
- A money transfer allows you to move money from your credit card account to your UK bank account, providing you with money when you can’t pay by credit card. We’re one of the few credit card providers to offer a money transfer – simply transfer money to your current account, pay the expense and spread the repayments if you need to.
- You can only make a money transfer to a UK current account held in your name and registered to the same address as your credit card account.
- If you make a purchase using money transferred from your credit card to your current account, the purchase will not be protected under Section 75 of the Consumer Credit Act 1974 - unlike some credit card purchases.
Important to know
Transfer rates may be withdrawn; check your available rates before making a transfer.
To keep your new transfer rates and avoid additional fees and charges, you need to make at least your minimum payment on time each month.
- You can make as many transfers as you like (minimum £100 per transfer) as long as you don’t go over your credit limit.
- Transfer requests are subject to further eligibility and security checks at the point of request and will not affect your credit score.
- To avoid paying interest on purchases unless a 0% promotional rate applies for purchases, you need to pay off your full main balance (not including any introductory or promotional balance or money transfers) plus any instalment plan payments, or if your minimum payment is higher, you pay at least your minimum payment, and you did the same the previous statement period.
- Approved transfers should be complete by the next working day, but can take longer if additional checks are needed.
- You must make at least the minimum payment on time each month, but you can repay more at any time to reduce your balance and the amount of any interest you pay overall.
- The balances on your latest statement with the highest interest rate will be paid off first, this includes any introductory or promotional interest rates. Find out more about balances and what your payments go towards.
- For any balances with a promotional or introductory offer on the same interest rate – we’ll use your payments towards the offer ending first.
- If you already have a promotional offer, before you apply for a new one, it’s always worth checking which one you’ll be paying off first.
- The maximum amount you’ll be able to transfer is 93% of your credit limit to allow for any transfer fee and any other fees, charges or transactions that haven’t reached your account yet.
- When your transfer rate ends, any remaining balance will move to your standard variable interest rate. You can find this rate on your monthly statement.
Transfer using the Lloyds mobile banking app:
Or call: 0345 450 4467
Monday to Friday, 8am to 10pm or 9am to 5pm on Saturday and Sunday. Lines closed on bank holidays.
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Section 75 of The Consumer Credit Act 1974 gives credit card customers legal rights if they’ve paid for goods or services using their credit card. It applies when the total price of the goods or services is more than £100 and up to a maximum of £30,000 and all or part of the purchase price was made using a credit card.
If you’ve bought something using your credit card, the credit card issuer and the seller may be equally liable for compensating you if things go wrong. For example, if there's a breach of contract or misrepresentation by the seller against you, you may be able to successfully claim a refund through us.