How do balance transfers work?

How do balance transfers work?

We’re always looking at ways to help our customers and that’s where our balance transfer offers come in.

If you’re paying interest on other credit or store cards, you could save money by transferring your balances to Barclaycard.
Customers tell us what they like about Barclaycard balance transfers.

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Savings calculator

As an existing customer, you’re only a few steps away from seeing how much you could save with our balance transfer calculator.  

Please remember, our calculator is just an example – your repayments, account activity and the way you manage your account will all have a bearing on your actual savings.

Our calculator gives you an estimate based on:

  • the balance you'd like to transfer and the interest rate on your other card
  • your promotional interest period and transfer fee
  • your monthly payments on your current card and the time it would take you to pay off your balance
  • your fixed monthly payment and not your minimum payment

Please note – no other transactions will be taken into account and the estimate is also based on the assumption that you'll stay within the terms of the balance transfer offer.

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Simple steps to make your transfer

Barclaycard app

Download. Tap. Done. Have a look to see if you’ve got an offer and then apply through the app.

Download on the App Store  or on Google Play

Download the Barclaycard app from the App Store   Download the Barclaycard app from Google Play  

Barclaycard online servicing

Log in or register to your Barclaycard account and select ‘Transfer a balance’. See if you’ve got an offer and then apply online. 

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How balance transfers work

To help you, we've answered some common questions.

A balance transfer is when you move your balance from an existing credit or store card onto your Barclaycard. This can help you to keep all of your balances in one place, making managing your money that bit easier. Plus, with our interest-free offers you could take a breather from paying interest and save money too.  

Don't forget, that you won’t be able to transfer a balance from another Barclaycard or from a store or credit card that’s from within the Barclays Group.

As long as you have enough credit in your account, you can transfer a balance to us at any time. If your Barclaycard account has a promotional balance transfer offer, just make the transfer before the offer end date shown. Once you’ve made a transfer, it’s safer to keep making payments to your other lender until the balance shows on your Barclaycard statement.

You can transfer a minimum of £100 up to a maximum of 90% of your credit limit. If you’d like to transfer more than your current credit limit allows, just call us on 0800 161 5296 and we’ll see if we’re able to increase it for you.

To offer you greater flexibility and savings, we regularly offer interest-free or promotional balance transfer rates, for varying periods of time. There may be a one-off handling fee to pay when you make a balance transfer, which is usually a percentage of the amount you’re transferring. You’ll find details about specific promotional offers available to you in your Barclaycard online servicing . Until you repay your transferred balance in full, you will incur interest on all your purchases at your standard purchase rate. This applies even if you repay your monthly spend in full each month.

Managing your balance transfers is easy with a Barclaycard account, our convenient online account service. It’s quick to register, simply fill in your credit card details, credit limit and a few personal details. Once you’re logged in:

  • select the option to ‘Transfer a balance’
  • tell us how much you’d like to transfer and which card you’d like to transfer from
  • let us know you’ve read the terms and conditions

It's that simple, just register or log in to your Barclaycard account .

We will use your payments to pay down your balance in this order:

  • firstly, your cash withdrawals are repaid
  • next, we pay off your standard purchases
  • finally, the payment goes towards your promotional balance until it's fully paid off. If you have more than one promotional balance we pay off the one with higher interest rate first. If your promotional balances have the same interest rate, we’ll reduce the balance with the earliest expiry date first

You can choose how much to pay each month but should always make at least the minimum payment by the due date. You’ll find this information on your monthly statement.  You can also pay more than the minimum amount to reduce your balance sooner.  This can help you save money by paying less interest at the end of your promotional period when your balance is charged at your standard rate. 

If you don’t make your minimum monthly payment by the agreed upon due date, or if you ever exceed your credit limit, you’ll lose your promotional rate and incur the standard purchase rate.

Until you repay your transferred balance in full, you will incur interest on all your purchases at your standard rate. This applies even if you repay your monthly spend in full each month. Remember, your simple standard rate moves up and down in line with the Bank of England Base Rate.

The transfer will reach your other lender by the end of the next working day after you make your request. It may take longer if we receive your request outside business hours (on a weekday after 7pm, or any time at the weekend or on a bank holiday). Occasionally we may have to make additional checks, for example, if we need to make sure that your request genuinely came from you. If this is the case, there may be a delay but we will process the transfer as quickly as we can.

Ready to transfer a balance?

It’s quick and easy to transfer a balance online, just register or log onto your Barclaycard account and follow the simple steps. Or give us a call on 0800 161 5296 and we’ll be able to set it up for you.

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Make sure you’ve read our balance transfer terms and conditions before you apply.

See how easy it is to set up a balance transfer online