Balance Transfer Terms and Conditions

Making a balance transfer

  1. You can transfer a balance from a credit card or a store card to your Barclaycard. We do not accept balance transfers from another credit card held with us (including our partner-branded cards).
  2. The minimum balance you can transfer is £100. The maximum balance depends on your credit limit and existing balances. The balance transfer plus any balances already on your account cannot be more than 90% of your credit limit. This is to allow some room for fees, interest and future transactions.
  3. You must transfer the balance before the offer ends. For new accounts this is 60 days from the date you open the account.
  4. There is a one-off fee to pay for each transfer. The fee will depend on your offer and the amount you transfer.
  5. Your offer will depend on your ‘credit status’, which can be affected by how you manage your account with us or other lenders.

Processing your balance transfer

  1. If you ask us to transfer a balance from a credit card or store card, we will pay off the amount you owe the other lender and transfer this debt to your Barclaycard. If you ask for a balance transfer within business hours (on a weekday before 7pm, not including bank holidays), the payment will reach your other lender on the next working day.
  2. If you ask us to transfer a balance outside business hours, we’ll process your request on the next working day and the payment will reach your other lender on the next working day after that.
  3. Occasionally, when processing your request, we may have to carry out extra checks to confirm that you made the request. This may cause a delay but we will process your request as quickly as we can.
  4. You must continue to make payments to your other lender until we have confirmed that we have transferred the balance.
  5. Once we have processed your balance transfer, the transfer amount and the one-off fee will appear as a promotional balance on your Barclaycard account and we will charge interest at your promotional rate.
  6. If the account details you have provided are incorrect, the payment may not reach your other lender’s account and it may not be possible to recover the money if it is paid into someone else’s account.

Repaying or ending your balance transfer

  1. If you go over your credit limit, miss a payment or make an arrangement with us to pay less than your minimum payment each month, you will lose your promotional rate.
  2. When your promotional term ends or if you lose your promotional rate, we’ll move any remaining balance to your standard balance and will charge interest on it at your standard rate.  Remember, your simple standard interest rate moves up and down in line with the Bank of England Base Rate.
  3. Until you pay your statement balance in full, we charge interest on purchases from the purchase date until we receive your payment. This means that if you have a balance transfer on your account and you only pay off the purchases you make that month, you will be charged interest on those purchases.
  4. If you don’t pay your statement balance in full each month, we will use the amount you pay to reduce the balances with a higher interest rate before the balance you have transferred as this will have a promotional interest rate. If you have more than one promotional balance with the same interest rate, we will use your payment to reduce the balance with the promotional term that ends first.
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