Balance Transfer To Savings Account

Can you make a balance transfer to savings account and if so, which credit cards currently allow you to make a balance transfer to savings account in 2014?

Balance Transfer Savings AccountThere are a small number of credit cards which do allow a credit card customer to make a balance transfer to savings account, although not directly.

To make a balance transfer to savings account, a customer must first make a 0% super balance transfer from the credit card directly into their bank account and can then transfer the funds into their savings account.

Making a balance transfer to savings account became popular several years ago when savings interest rates were higher and balance transfer fees were lower or non existent.

Cardholders would make a money transfer at 0% into their bank account and then put the money into a high interest savings account.

At the end of the 0% balance transfer period, the cardholder would pay off the outstanding balance and keep the interest earned as profit.

With the current low rates of interest for savers and with all balance transfer credit cards now having a balance transfer fee, making a balance transfer to savings account is not quite as profitable as it once was although it is still possible.

Balance Transfer To Savings Account

Only a very small number of the over 110 UK 0% balance transfer credit cards allow a customer to make a balance transfer to savings account.

The Post Office credit card does allow a balance transfer to savings account via a money transfer, although this is not currently promoted anywhere on their web site.

Post OfficePost Office Platinum credit card

  • 0% for 18 months on money transfers to a bank account with a 2.98% fee
  • 0% for first 18 months on standard balance transfers with a 2.98% balance transfer fee
  • 0% on purchases for first 3 months
  • Representative 17.8% APR variable
  • Representative Example: 17.8% p.a. variable on card purchases. This is equivalent to 17.8% APR representative (variable) based on an assumed credit limit of £1,200
  • More Information >>

Credit cards which allow cardholders to make a balance transfer to savings account are often known as super balance transfer cards.

Balance Transfer Expert has:-
  • 123 UK 0% balance transfer credit cards available today
  • Offering 0% on balance transfers for up to 33 months
  • With special offer balance transfer fee refunds of up to 1.5%

Find A Balance Transfer Credit Card >>

Balance Transfer Credit Cards

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