How balance transfer works

How a balance transfer could work

Let's say you have £1,500 worth of debt on a credit card with another bank and you’re paying 24.9% interest on your balance. You could transfer that debt to a Barclaycard balance transfer credit card, as long as the amount isn't over 90% of your credit limit.

You'll then enjoy 0% interest during your promotional period, as long as you pay your minimum amount on time each month and stay within your credit limit.

The extra money you’d save on interest could then be used to reduce your debt.

Want to learn more? Take a look at our balance transfer explained page.