Can You Balance Transfer Store Cards?

Can you balance transfer store cards?

We have recently seen an increased number of people looking for an answer to the question of can you balance transfer store cards?

Store cards differ from credit cards in that store cards allow a customers to make a purchase in one specific brand of stores and then pay later. With a credit card however a customer can make a purchase in any retailer using the card and pay later.

So can you balance transfer store cards and if so how do you balance transfer store cards?

The answer is yes, you can balance transfer store cards from all of the main UK retailers.

To make a balance transfer from any store card, you simply need to follow the same procedure as when making a balance transfer from a credit card.

You will need to provide the 16 digit card number of the store card you are transferring the balance from, the name of the store card e.g. Argos or Next for example and the amount of the balance you want to transfer.

With many store cards charging more than 25% interest on any outstanding purchases, a balance transfer from a store card to a credit card offering 0% on balance transfers for an introductory period, can offer store card customers a way to make large savings on interest payments.

All of the following popular featured UK credit cards will accept a balance transfer from a store card :-

Card Offers

HSBC*

Balance Transfers:

0% for 32 Months

Balance Transfer Fee:

1.4%

Purchases:

0% for 3 Months

Representative APR:

21.9% APR (variable)

Card Details

HSBC*

0% interest on balance transfers for 32 months made within 60 days of account opening
1.4% balance transfer fee (minimum £5)
0% interest on purchases for 3 months from account opening
At the end of 0% offer period, balance transfers and purchases will revert to standard variable rate
home&Away rewards programme giving you instant discounts from well-known brands
Online account management
Annual Fee: None

Application Criteria

HSBC*

You have an annual income or pension before tax of £8,500 or more
You are a UK resident, including Isle of Man and Channel Islands
You are aged 18 or over
You do not hold an HSBC Basic bank account

£25 cashback when use card for either purchases or balance transfer for minimum of £300 within 60 days of account opening (terms apply)

Representative Example: 21.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 21.9% p.a. (variable)

Credit is subject to status

Card Offers

Nationwide Credit Card just for Nationwide members*

Balance Transfers:

0% for 12 Months

Balance Transfer Fee:

Purchases:

0% for 12 Months

Representative APR:

17.9% APR (variable)

Card Details

Nationwide Credit Card just for Nationwide members*

0% on balance transfers for 12 months from account opening
0% balance transfer fee within first 3 months, 2.4% fee applies after, minimum £5
0% on purchases for 12 months from account opening
Commission free allowance on purchases abroad (subject to terms)
Manage account online
Annual Fee: None

Application Criteria

Nationwide Credit Card just for Nationwide members*

Our credit cards are just for members. You�re a member when you have a current account, mortgage or savings account with us
You have been living in the UK for the last 12 months
You have a gross income each year of more than £5000
You have a good credit history
You are aged 18 or over

Representative Example: 17.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 17.9% p.a. (variable)

Card Offers

HSBC Matched*

Balance Transfers:

0% for 18 Months

Balance Transfer Fee:

2.99%

Purchases:

0% for 18 Months

Representative APR:

22.9% APR (variable)

Card Details

HSBC Matched*

0% interest for 18 months on balance transfers made within 60 days of account opening
2.99% balance transfer fee (minimum £5)
0% on purchases for 18 months from account opening
At the end of 0% offer period, balance transfers and purchases will revert to standard variable rate
home&Away rewards programme giving you instant discounts from well-known brands
Online account management
Annual Fee: None

Application Criteria

HSBC Matched*

You have an annual income or pension before tax of £8,500 or more
You are a UK resident, including Isle of Man and Channel Islands
You are aged 18 or over
You do not hold an HSBC Basic bank account

Representative Example: 22.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 22.9% p.a. (variable)

Credit is subject to status

Card Offers

M&S Transfer Plus*

Balance Transfers:

0% for 28 Months

Balance Transfer Fee:

0.99%

Purchases:

0% for 6 Months

Representative APR:

19.9% APR (variable)

Card Details

M&S Transfer Plus*

0% for 28 months on balance transfers made within 90 days of account opening
0.99% balance transfer fee, minimum £5
0% on purchases for 6 months from account opening
Collect M&S points every time you shop anywhere in the world with your card
Preferential rates when you use your card to order M&S Travel Money
Manage account online
Annual Fee: None

Application Criteria

M&S Transfer Plus*

You are a UK resident
You have a UK bank or building society account
You are aged 18 or over
You have not held a credit card with M&S Bank within previous 12 months

Representative Example: 19.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 19.9% p.a. (variable)

Card Offers

Asda Cashback*

Balance Transfers:

0% for 12 Months

Balance Transfer Fee:

Purchases:

No offer

Representative APR:

19.9% APR (variable)

Card Details

Asda Cashback*

0% on balance transfers for 12 months
3% balance transfer fee, minimum £3
0% for 6 months on purchases of £200 or more at George.com
1% cashback on your Asda shopping online and instore
1% cashback at Asda Living, Asda petrol stations and George.com
0.2% cashback everywhere else
Annual Fee: None

Application Criteria

Asda Cashback*

You are a permanent UK resident
You have a UK bank or building society account
You are able to provide at least one telephone number
You have a regular source of income
You are aged 18 or over

Unlimited cashback vouchers - 1% at Asda plus 0.2% everywhere else

Representative Example: 19.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 19.9% p.a. (variable)

A balance transfer fee will be payable in most cases when you balance transfer store cards and this fee is paid to the card company that you transfer the store card balance to. There is no fee charged by the store card for making a balance transfer.

It makes no difference whether you make store card balance transfer to a Visa or MasterCard credit card, both payment networks cards are accepted in millions of locations around the world.

Can You Balance Transfer Store Cards?