How Balance Transfers Work

If you're thinking of making a store or credit card balance transfer to us, here's the general information you need to know. Before you make your final decision, double-check the page that explains the balance transfer offer you're interested in- this will tell you the offer rate, fee (if there is one) and terms for the offer.

Can I transfer a balance today?

You can transfer your balance to us anytime, so long as you have sufficient funds within your current credit limit. If you'd like to transfer a larger amount, or you want to have the scope to make new purchases, just give us a call and we'll consider increasing your limit.

Until the transferred balance appears on your monthly statement you should continue to make payments to your other lender. Please note that we can't accept transfers from cards or loans issued by other Barclays Group companies.

How much can I transfer?

You must transfer a minimum of £100 (if you're an existing customer) and £250 (if you're new). As you'd expect, there is a limit to the maximum amount that can be transferred at a promotional rate- check the balance transfer offer page for details.

What rate of interest will I pay?

We reward our existing customers with regular promotional rate offers. These can differ from month to month and could be for a fixed period of time (6, 9 or 12 months), or until the transferred balance has been repaid in full.

The rate and period of any promotional offer can be found on the page detailing the balance transfer offer. If a fee is going to be charged, the amount will also be advised.

There's no interest-free period on balance transfers as they are existing debts being consolidated onto a different account. Therefore, you will be charged interest at the promotional rate from the day the balance is transferred

If the promotional rate runs for a fixed period, any balance remaining afterwards will be charged at your standard purchase rate. See your account Terms and Conditions for information on the applicable rate.

How much will I have to repay each month?

On your monthly statement, we set out the minimum amount you need to pay and the date that payment is due. It's very important that you pay at least this amount- if you don't, or if you exceed your credit limit in any month, you'll lose your promotional rate and be charged at your standard rate. (This is part of your Barclaycard conditions).

You can choose to pay more than the minimum amount. Obviously the more you pay, the more quickly your debt will be cleared.

Each payment will be used first to reduce your transferred balance, then your standard purchases and cash withdrawals. So initally, your standard balances will increase by the amount you spend each month, but once your transferred balance has been paid off in full or the promotional period has ended, they'll start to reduce.

Please remember that our promotional offers all have offer close dates, so make sure you apply before the offer end date (found on the balance transfer offer page) to benefit from a specific rate. We reserve the right to refuse a balance transfer.