Store Card Balance Transfer?

What is a store card balance transfer?

Store Card Balance Transfer

A store card balance transfer is where a customer transfers the outstanding debt from a store card to a credit card by way of a  balance transfer.

Store cards allow  customers to make a purchase in a specific store and pay later. However store cards very often charge high rates of interest and can only be used to make purchases within that specific store.

Credit cards also allow customers to make a purchase and pay later. However, most credit card have lower interest rates than most store cards and purchases can be made in millions of locations worldwide where credit cards are accepted.

Store Card Balance Transfer

With many store cards charging over 25% interest on any outstanding purchases, it is not surprising that many customers are looking to make a store card balance transfer.

A store card balance transfer from a high interest rate store card to a credit card offering 0% on balance transfers for an introductory period can offer the customer a way to make large savings.

0% balance transfer cards will not charge interest on the balance for the duration of the balance transfer offer, although a balance transfer fee will in most cases be charged.

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


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Card Offers

Balance Transfers:
0% for up to 28 Months
Balance Transfer Fee:
3%
Purchases:
0% for 3 Months
Representative APR:
19.9% APR (variable)
More Information

Card Details

Sainsbury’s Balance Transfer
  • 0% interest on balance transfers for up to 28 months
  • 3% balance transfer fee on transfers made at application
  • 0% interest on purchases for your first 3 months
  • Collect 2 Nectar points per £1 spent on Sainsbury's shopping and fuel
  • Collect 1 Nectar point for every £5 spent on your card elsewhere
  • Online account management
  • Annual Fee: None
More Information

Application Criteria

Sainsbury’s Balance Transfer
  • You have a permanent UK address
  • You have not been declined for credit in the last month
  • You do not have a history of bad credit
  • You are aged 18 or over
More Information
Representative Example: 19.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 19.95% p.a. (variable)

Card Offers

Balance Transfers:
0% for up to 28 Months
Balance Transfer Fee:
2.95%
Purchases:
0% for 3 Months
Representative APR:
19.9% APR (variable)
More Information

Card Details

TSB Platinum 28 Month
  • 0% interest for up to 28 months on balances transferred within first 90 days
  • 2.95% balance transfer fee during first 90 days, 3% fee applies afer 90 days
  • 0% interest for the first 3 months on purchases
  • Internet fraud protection and Clicksafe
  • Apple Pay and Android Pay
  • Annual Fee: None
More Information

Application Criteria

TSB Platinum 28 Month
  • You are an existing TSB customer
  • You are not currently declared bankrupt, have CCJs or subject to IVA
  • You have a good credit rating and regular income
  • You are a UK resident
  • You are aged 18 or over
More Information
Representative Example: 19.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 19.95% p.a. (variable)

Card Offers

Balance Transfers:
0% for 24 Months
Balance Transfer Fee:
1%
Purchases:
0% for 4 Months
Representative APR:
20.6% APR (variable)
More Information

Card Details

Co-operative Bank Balance Transfer
  • 0% interest for 24 months for balance transfers made within 60 days
  • 1% 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
More Information

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
More Information
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)

Card Offers

Balance Transfers:
0% for 26 Month
Balance Transfer Fee:
0%
Purchases:
0% for 26 Months
Representative APR:
21.7% APR (variable)
More Information

Card Details

Santander All in One
  • 0% interest on balance transfers for 26 month from date account opened
  • 0% balance transfer fee
  • 0% interest on purchases for 26 month from date account opened
  • 0.5% cashback on all of your purchases
  • No foreign transaction fee on purchases made abroad in local currency
  • Cashback through Retailer Offers
  • Monthly Fee: £3
More Information

Application Criteria

Santander All in One
  • You are a permanent UK resident
  • You have a good credit history with no history of bad credit
  • You have an income of £7,500 per year or more
  • You are at least 18 years of age
More Information
Monthly fee of £3 payable
Representative Example: 21.7% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 15.9% p.a. (variable) with a monthly fee of £3 payable

Many store cards are taken out when a customer is offered an discount off a purchase and some store cards may also offer loyalty rewards to regular customers.

Popular store cards currently available within the UK include all of the following:-

  • Argos store card
  • Burton store card
  • Debenhams store card
  • Dorothy Perkins store card
  • Next store card
  • New Look store card
  • Miss Selfridge store card
  • Topshop store card
  • Warehouse store card

As with any credit card balance transfer, a store card balance transfer can not be made between cards issued by the same credit card company.


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