How Do You Transfer A Balance From One Credit Card To Another?

How do you transfer a balance from one credit card to another?

A balance transfer, where a credit card holder transfers the outstanding balance amount owing from one credit card to another credit card, is a common process and can be done quickly and easily.

Balance transfers from one credit card to another can be done in one of 3 ways:-

  • When applying for a new balance transfer credit card online
  • Using the online servicing of your credit card account
  • By telephoning your credit card company

How Do You Transfer A Balance When Applying for a New Credit Card?

Transferring A BalanceToday, most balance transfers now take place when a customer applies for a new 0% balance transfer credit card.

When the customer applies online for a new balance transfer credit card then part of the application form will ask the customer if they would like to make a balance transfer.

To transfer the balance from the old credit card to the new credit card the customer simply needs to know the following information :-

  • the name of their current credit card that they wish to transfer the balance from
  • the 16 digit number from the front of their credit card
  • the amount they wish to transfer

So as an example, if Mr Smith is making a £1,000 balance transfer from his MBNA credit card to a new Halifax credit card, he would simply enter the following information :-

  • Credit Card Name:        MBNA
  • Credit Card Number:   1234 5678 2345 6789 (as an example)
  • Transfer Amount:         £1,000

It is important that you double check that the credit card number is correct as this is the card that the new credit card company will attempt to move the balance from.

If your application for the new credit card is successful and all the balance transfer details are correct and the amount is within your credit limit, then the balance transfer will take place within a couple of days after your acceptance.

Some of the most popular current featured  % balance transfer credit cards available include the following cards:-

Card Offers

Balance Transfers:
0% for 28 Months
Balance Transfer Fee:
1.4%
Purchases:
0% for 3 Months
Representative APR:
21.9% APR (variable)
More Information

Card Details

HSBC*
  • 0% interest on balance transfers for 28 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
More Information

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
More Information
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

Balance Transfers:
0% for 12 Months
Balance Transfer Fee:
0%
Purchases:
0% for 12 Months
Representative APR:
15.9% APR (variable)
More Information

Card Details

Nationwide Select 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
  • Unlimited commission free purchases abroad
  • Manage account online
  • Annual Fee: None
More Information

Application Criteria

Nationwide Select Credit Card just for Nationwide members*
  • Nationwide credit cards are just for members. You are a member when you have a current account, mortgage or savings account with Nationwide
  • Nationwide Select Credit Card is only available to members who hold their main current account with Nationwide
  • 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
More Information
Nationwide Select Credit Card is only available to members who hold their main current account with Nationwide
Representative Example: 15.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 15.9% p.a. (variable)

Card Offers

Balance Transfers:
0% for 12 Months
Balance Transfer Fee:
3%
Purchases:
No offer
Representative APR:
19.9% APR (variable)
More Information

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
More Information

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
More Information
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)

Card Offers

Balance Transfers:
0% for 20 Months
Balance Transfer Fee:
2.9%
Purchases:
0% for 20 Months
Representative APR:
19.9% APR (variable)
More Information

Card Details

M&S Shopping Plus*
  • 0% for 20 months on balance transfers made within 90 days of account opening
  • 2.9% balance transfer fee, minimum £5
  • 0% on purchases for 20 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
More Information

Application Criteria

M&S Shopping 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
More Information
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

Balance Transfers:
0% for 18 Months
Balance Transfer Fee:
2.99%
Purchases:
0% for 18 Months
Representative APR:
22.9% APR (variable)
More Information

Card Details

HSBC Purchase Plus*
  • 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
More Information

Application Criteria

HSBC Purchase Plus*
  • 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
More Information
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

How Do You Transfer A Balance Using Online Servicing?

If you have recently applied for a new credit card with a balance transfer offer, but did not complete the balance transfer request at the time of application, then you can often still make a balance transfer request online.

Be aware, however, that many 0% introductory balance transfer offers do require you to complete the balance transfer within a certain number of days of applying for the card.

To do this, log in to your credit card companies online account management service and look for the menu option that says “Transfer a Balance” or some such similar wording.

You should then see a screen that will ask for the relevant details necessary to complete the balance transfer. These details as in the example above, are the name of the card, the 16 digit card number and the amount of the balance transfer.

You can then press the submit button and if all the details are correct, the balance transfer will be processed.

How Do You Transfer A Balance By Telephone?

You can also request a balance transfer by telephoning the customer services telephone number of your credit card company.

When speaking to the customer services representative, state that you would like to transfer a balance. You will then be guided through the rest of the process over the telephone.

You will need to know the name of the credit card that you are transferring the balance from i.e. MBNA Platinum, the full 16 digit number from the front of that credit card and also the the amount of the balance that you wish to transfer.


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