09 October 2017

TSB Launches Fee Free Balance Transfer Credit Card Offer

New 0% balance transfer fee refund offer for new customers
0% interest on balance transfers for 28 months
0% interest on purchases for three months

TSB is offering new customers a 0% balance transfer fee refund offer when they take out a new Platinum 28 Month Balance Transfer Credit Card.

Helping people make more of their money, TSB will refund the 0.5% balance transfer fee when a transfer is made in the first 30 days after account opening. Customers need to open their account before 31 January 2018 and make the transfer before 2 March 2018 to qualify for the offer.

Customers taking out this credit card will benefit from 0% interest on balance transfers for 28 months, 0% interest on purchases for three months, and 1% cashback on the first £500 if they have a TSB Classic Plus account.

Rewarding switchers and spenders, people can use the card in a way that best suits their needs. The offer will provide customers with additional flexibility to help them manage their finances.

Andy Piggott, Head of Credit Cards at TSB, says: “We’re committed to bringing more competition to the UK banking market and this offer is another example of that.

“With no balance transfer fee and an interest-free period of 28 months on balance transfers, this new offer is perfect for anyone looking to save money on their credit card balances.”

Classic Plus customers can earn 1% cashback

Customers can earn 1% cashback on the first £500 of eligible spend each month when they have a TSB Classic Plus current account. This offer is available until 30 June 2018.

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The information contained in this press release is intended solely for journalists and should not be used by consumers to make financial decisions. ‚Äč

Notes to editors

How to get your balance transfer fee refund:

  1. Apply and be approved for our Platinum 28 month Balance Transfer Credit Card between 6 October 2017 and 31 January 2018.
  2. Transfer a minimum of £100 at a time from any non-TSB UK credit cards or store cards, up to a maximum of 95% of your credit limit.
  3. For each balance transfer made within the first 90 days of account opening we’ll charge the introductory 0.5% balance transfer fee.
  4. But for each balance transfer you make during the first 30 days of opening your account we’ll refund the full 0.5% balance transfer fee within 60 days from the date of each balance transfer.
  5. Your fee refund will show on one of your next two statements as ‘Balance Transfer Fee Refund’.

What else you need to know.

  • To stay eligible for promotional rates and balance transfer fee refunds, you must stay within your credit limit and make your payments on time each month.
  • Balances transferred between 31 and 90 days will be charged at 0.5%; after 90 days there is a 3% balance transfer fee.
  • When the introductory 0% period ends, your transactions will be charged at the standard rate.
  • Applicants must be over 18 and a UK resident to apply. Approval is subject to status and lending criteria.
  • This offer may be withdrawn at any time.

About TSB

TSB was built to bring more competition to UK banking and ultimately make banking better for all UK consumers. TSB only serves local customers and local businesses, to help fuel local economies, because communities thriving across Britain is a good thing for all of us.

We have a simple, straightforward and transparent banking model and make clear on our website how we operate and make money. We offer the products and services people tell us they want, with none of the funny stuff people normally associate with traditional banks.

Our five million customers appear to notice: TSB is Britain’s most recommended high street bank and was recently identified as one of the top 10 big companies to work for.

For further information about TSB Bank plc, please visit our website www.tsb.co.uk.