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Instant Balance Transfer

Instant Balance Transfer

An instant balance transfer credit card is a credit card with an introductory balance transfer offer, that provides the customer with an instant decision on approval.

Why do UK card customers look for an instant balance transfer credit card?

With these immediate balance transfer credit cards the customer receives a faster decision. As a result, the customer knows the outcome within a couple of minutes of applying for the card. They then know whether or not, they will be able to make the balance transfer, they have requested.

More and more of the interest free balance transfer credit cards available online in the UK, in 2022, do now offer an online balance transfer decision.

An increasing number of the credit card companies are now able to offer an instant decision balance transfer credit card. These cards are able to provide an online decision at the end of the customer’s application process.

However, some UK credit card companies, including MBNA for example, do still restrict online balance transfer approvals to daytime hours during the working week. These companies tend not to approve customers for new credit cards late at night, on weekends, or bank holidays.

Instant Balance Transfer Credit Card

0% balance transfer credit cards with an instant decision, can allow a customer to save money by making a balance transfer to a new 0% card. During the introductory 0% balance transfer offer period, the customer will pay no interest.

All of the customer’s monthly repayments, during the 0% offer period, will go towards reducing their outstanding debt. This can also allow the customer to repay their overall debt faster, as all payments will reduce the customer’s outstanding debt.

The following popular featured 0% cards are suitable for customers looking for an instant decision balance transfer credit card :-


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Card Offers

Balance Transfers:
0% for 33 months
Balance Transfer Fee:
2.7%
Purchases:
0% for 3 months
Representative APR:
21.9% APR (variable)

Card Details

HSBC Balance Transfer*
  • 0% interest for 33 months on balance transfers made within first 60 days of account opening
  • 2.7% balance transfer fee applies (minimum £5)
  • 0% interest on purchases for 3 months from account opening
  • At end of promotional period, balance transfers and purchases will revert to standard variable rate
  • Worldwide offers and discounts with HSBC home&Away
  • Manage your card online
  • Annual Fee: None

Application Criteria

HSBC Balance Transfer*
  • You have an annual income or pension before tax of £6,800 or more
  • You are a UK resident
  • You are aged 18 or over
  • You do not hold an HSBC Basic bank account
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, affordability and applicable terms and conditions
No balance transfers allowed to this card from first direct, HSBC, M&S or Partnership credit cards

Card Offers

Balance Transfers:
0% for 32 months
Balance Transfer Fee:
1.99%
Purchases:
0% for 3 months
Representative APR:
21.9% APR (variable)

Card Details

M&S Transfer Plus*
  • 0% for 32 months on balance transfers made within 90 days of account opening
  • 1.99% balance transfer fee, minimum £5
  • 0% on purchases for 3 months from account opening
  • Collect M&S points every time you shop anywhere in the world with your card
  • One point for every £1 you spend in M&S and one point for every £5 you spend elsewhere
  • Manage account online
  • Annual Fee: None

Application Criteria

M&S Transfer Plus*
  • You are a UK resident
  • You have an annual income or pension of at least £6,800
  • You are aged 18 or over
  • You have not held a credit card with M&S Bank within the previous 12 months
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)
No balance transfers allowed to this card from first direct, HSBC, M&S or Partnership credit cards

Card Offers

Balance Transfers:
0% for 24 months
Balance Transfer Fee:
2.9%
Purchases:
0% for 24 months
Representative APR:
21.9% APR (variable)

Card Details

M&S Shopping Plus*
  • 0% for 24 months on balance transfers made within 90 days of account opening
  • 2.9% balance transfer fee, minimum £5
  • 0% on purchases for 24 months from account opening
  • Collect M&S points every time you shop anywhere in the world with your card
  • One point for every £1 you spend in M&S and one point for every £5 you spend elsewhere
  • Manage account online
  • Annual Fee: None

Application Criteria

M&S Shopping Plus*
  • You are a UK resident
  • You have an annual income or pension of at least £6,800
  • You are aged 18 or over
  • You have not held a credit card with M&S Bank within the previous 12 months
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)
No balance transfers allowed to this card from first direct, HSBC, M&S or Partnership credit cards

Card Offers

Balance Transfers:
0% for 24 months
Balance Transfer Fee:
3%
Purchases:
0% for 4 months
Representative APR:
20.6% APR (variable)

Card Details

Co-operative Bank Balance Transfer
  • 0% interest for 24 months for balance transfers made within 60 days
  • 3% balance transfer fee, minimum £5
  • 0% interest on purchases for 4 months from account opening
  • All successful applicants will receive this exact rate and offer
  • Online account management
  • Annual Fee: None

Application Criteria

Co-operative Bank Balance Transfer
  • Only available to customers who have held a Co-operative Bank or smile current account for 1 month or more
  • You are a UK resident
  • You have annual income of £10,000 or more
  • You are aged 18 or over
Only available to Co-operative Bank customers
Representative Example: 20.6% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 20.6% p.a. (variable)
No balance transfers allowed to this card from Co-operative credit cards

Card Offers

Balance Transfers:
0% for 23 months
Balance Transfer Fee:
2.9%
Purchases:
0% for 23 months
Representative APR:
22.9% APR (variable)

Card Details

HSBC Purchase Plus*
  • 0% interest for 23 months on balance transfers made within first 60 days of account opening
  • 2.9% balance transfer fee applies (minimum £5)
  • 0% interest on purchases for 23 months from account opening
  • At end of promotional period, balance transfers and purchases will revert to standard variable rate
  • Worldwide offers and discounts with HSBC home&Away
  • Manage your card online
  • Annual Fee: None

Application Criteria

HSBC Purchase Plus*
  • You have an annual income or pension before tax of £6,800 or more
  • You are a UK resident
  • 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, affordability and applicable terms and conditions
No balance transfers allowed to this card from first direct, HSBC, M&S or Partnership credit cards

Instant Decision Balance Transfer Credit Card

Where a credit card company can not make an instant decision online, they are most likely to refer the application. This referral process will often require further manual checks by a credit analyst employed by the bank, or card company.

These manual checks can often delay the approval decision for the balance transfer credit card, by a number of days. If the customer needs to provide further information to the bank, or card company, then this can further slow down the approval process.

With the introduction of the faster payments regulations for banks, UK balance transfers themselves now take much less time to process. In the past balance transfer could take weeks, but most are now done within days. For more information on this topic see our page on how long a balance transfer takes.

An instant decision balance transfer credit card is available from a range of different UK card companies. These immediate balance transfer credit cards are available using both the Visa and the MasterCard payment networks.

Both of these payment networks mean that any 0% balance transfer credit card issued by a bank, or a credit card company in the UK, will also be accepted at millions of hotels, restaurants and retailers all around the world.


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Published: May 9, 2022, Updated: May 9, 2022 by Balance Transfer Expert

All 0% balance transfer credit card offers on this website are updated daily