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 0% money transfer from your credit card 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% money transfer 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 0% money transfer to pay off any outstanding loans or overdrafts you have. This balance transfer to debit card, via a money transfer to 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 money transfer offer available on the credit card.
Balance Transfer To Debit Card – Via Bank Account
There are around 120 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 a money transfer to your bank account.
The following featured Tesco credit card does allow you to make a balance transfer to debit card via a 0% money transfer. The card offers 0% interest on money transfers for the first 39 months with a 3.94% fee.
- 0% interest for 39 Months on balance transfers from account opening
- 2.69% balance transfer fee
- 0% interest for 3 Months on purchases from account opening
- Earn Clubcard points wherever you use your card, plus your usual points in Tesco. Terms apply
- The 0% offer is applied to any balances or money transferred within the first 90 days of opening your account
- Apply online and get a decision within 60 seconds
- Annual Fee: None
Has the following application criteria:-
- You have an annual income of at least £5,000
- You are at least 18 years of age
- You have a good credit history
- You live in the UK, or have a British Forces Post Office address
- You don't currently hold more than 1 Tesco Bank Credit Card
- You have not applied for a Tesco Bank Credit Card in the last month or have an application currently in progress
As can be seen above, the handling fee to make a money 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.
Today Balance Transfer Expert has:-
- 0% balance transfers for up to 39 months with a 2.48% fee
- 0% balance transfers for up to 32 months with a 1.13% fee
- 0% balance transfers for up to 23 months with no fee