Balance transfer cards

Our balance transfer credit cards offer you the chance to move your credit, and store card balances to one card, while paying no interest for a set period. This allows you to:

  • Take advantage of an interest free period
  • Manage your debt effectively

At TSB, our balance transfer cards remain interest free for up to 27 months. If you’re paying interest on other credit or store cards, our balance transfer card could enable you to save money, by paying 0% interest. This could allow you to clear the balance quicker by saving money on the interest.

TSB offers two Balance Transfer Cards, which can be seen below:

Platinum Balance Transfer Card

  • 0% on purchases for 3 months
  • 0% interest for up to the first 27 months on balances transferred within the first 90 days.
  • 2.95% balance transfer fee during the first 90 days
 

Representative example

Purchase rate 19.95% p.a. (variable)

Representative 19.9% APR (variable) based on borrowing £1,200 over 12 months.

Credit limits, interest rates and promotional periods will vary based on your individual circumstances. Subject to status and lending criteria.

 

 

 

Find out more about the Platinum Balance Transfer Card

Platinum Purchase Card

Our best offer for both purchases and balance transfers

  • 0% interest for up to 15 months on purchases plus 0% interest for up to 15 months on balance transfers made within the first 90 days of account opening
  • 1.45% balance transfer fee during the first 90 days
 

Representative example

Purchase rate 19.95% p.a. (variable)

Representative 19.9% APR (variable) based on borrowing £1,200 over 12 months.

Credit limit, interest rates and promotional periods will vary based on your individual circumstances. Subject to status and lending criteria.

 

 

 

Find out more about the Platinum Purchase Card

To stay eligible for promotional rates, you must stay within your credit limit and make your payments on time each month.

Your complete guide to balance transfers

Everything you need to know about transferring credit and store card debt to a new card.

Balance transfer guide

Balance Transfer Card FAQ’s

A balance transfer is when you move the debt from one or more existing credit cards to a single credit. The benefits of making a balance transfer are that typically you will be charged less interest, or will make lower monthly repayments.

 

A 0% balance transfer credit card allows you to move the balance from multiple existing credit cards to the new one. As the new card has no interest for a set period of time on the balance(s) transferred, this allows the card holder to pay off debt more efficiently. If you miss a payment or go over your credit limit, you may no longer be eligible for the deal rate - check the terms and conditions of the card you are applying for to see if this applies.

 

Balance transfer cards are ideal for people trying to pay off credit or store card debt with high interest rates. These cards allow you to transfer balances from several cards and pay them off whilst using an interest free period.

 

To carry out a balance transfer, you simply move the outstanding balance from one credit card onto another. The balance is then owed on the new card, typcially at a lower interest rate or with an interest free period.

 

It is possible to transfer money from several cards onto a 0% interest card, as long as you remain within the terms and conditions of the new card.

It will mainly depend on the total size of the debt. However much you can transfer over will depend on the new card’s credit limit and terms and conditions. You can transfer balances from as many cards as you like, however, the total amount must remain within the new card’s limit and terms and conditions.

If you have several cards, it is worth transferring those with the highest interest rates first.

 

Although you can transfer money from as many cards as you like, there is usually a fee involved for moving the balance from an old card. The transfer free will vary between providers.

This can vary between lenders. For transferring the balance from an old credit card to a new TSB credit card you can transfer up to 95% of the available balance on the new account.

A balance transfer does not close the old account. The old credit card can still be used; however, this could result in further interest being charged.

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