Transferring Your Balance

Transferring Your Balance



Card issuers sometimes offer you a lower rate of interest if
you swap your balance from your existing card onto one of
their cards. This is called a balance transfer.



Things to consider about balance transfers

  • How long the introductory lower rate of interest lasts
  • What the interest rate is after the special offer ends
  • How other terms, such as credit limits, payment dates, interest calculation, fees and charges etc., compare with your present card
  • How payments are applied to current purchases, cash withdrawals, and balance transfers. These things are important in understanding the true costs and benefits of credit

Further information

You can contact the credit card supplier for more information on the terms of balance transfer.

If you want help in managing your finances, call the Consumer Credit Counselling Service on 0800 138 1111.


Related Links

In debt and need help?

Call a CCCS counsellor 
on 0800 138 1111.