How Balance Transfer Works

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 any amount to your credit card or current account providing that the total doesn’t exceed 90% of your credit limit. If you’d like to make a transfer, or you want to have the flexibility to make a new purchase, just give us a call and we’ll consider increasing your limit.

If you make a store or credit card balance transfer to us, you should continue to make payments to your other lender until the transferred balance appears on your monthly statement. 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 can transfer any amount to your credit card or current account providing that the total doesn’t exceed 90% of your credit limit. For credit card transfers, you must transfer a minimum of £100 (if you’re an existing customer) and £250 (if you’re a new customer).

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 moved into a different account. So, you will be charged interest at the promotional rate from the day the balance is transferred to your Barclaycard account.

If you are offered a rate for a fixed period of time, any balance remaining at the end of the period will go back to your standard 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.

If you do not pay the total outstanding balance in full by the payment due date, we will apply the amount you do pay to reduce higher interest rates balances before lower interest rate balances. This means that you will pay off any cash transactions and purchases before you pay off any of your balance transfer.

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.