Balance Transfer To Debit Card
Can you do a balance transfer to debit card and which 0% balance transfer credit cards allow you to make a balance transfer to debit card?
Currently, you can not make a balance transfer to debit card directly, but what you can do is make a credit card money transfer to the bank account that the debit card is linked to.
This balance transfer to your bank account transfers the money from the credit card company into your bank account, so making the money available to spend with your debit card.
Once the 0% balance transfer money is in your bank account, you can then use this money to make a purchase with your debit card. This could be, for example, where perhaps the merchant does not accept a credit card payment, but does accept a debit card payment.
Alternatively you can use this balance transfer money to pay off any outstanding loans or overdrafts you have. This balance transfer to debit card, via your bank account, effectively allows the customer to pay off any existing debts that have a higher interest rate.
The balance transfer to debit card, via your bank account, will allow the customer to pay 0% interest for the length of the introductory balance transfer offer available on the credit card.
Balance Transfer To Debit Card – Via Bank Account
There are around 110 UK 0% balance transfer credit cards currently available, but only a very small number of these cards will allow you to do a balance transfer to debit card via your bank account.
The Post Office credit card allows a balance transfer to debit card via a 0% money transfer, although this is not promoted anywhere on their web site.
- 0% for 18 months on balance transfers to debit card via money transfer 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 >>
As can be seen above, the handling fee to make a balance transfer to debit card via your bank account is slightly higher than the handling fee for a standard credit card to credit card balance transfer.
The customer will naturally, still have to repay the balance transfer in the normal manner by making at least the minimum monthly repayment to the credit card company.
Credit cards which allow a balance transfer to debit card are also often known as cash transfer credit cards.
Balance Transfer Expert has:-
- 124 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%
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