How a balance transfer credit card might work for you

You could put your current credit and some store card balances together, so they’re easier to manage. It’s important to know you cannot transfer a balance from other Bank of Scotland credit cards, loan companies or bank accounts.

Balance transfer credit cards usually come with an introductory offer. 

Make as many transfers as you like (min £100 per transfer) as long as you don’t go over your credit limit.

More about balance transfers

How long do they take?

Once approved, balance transfers normally arrive the next working day.

How much can you transfer?

The minimum transfer amount is £100. There’s no limit to how many transfers you can make, but you must stay within the credit limit of your new credit card. You’ll also need to take into account any other transactions on the card, and transfer fees to be added. You cannot transfer a balance from other Bank of Scotland credit cards, loan companies or bank accounts.

What happens after the introductory offer finishes?

Your interest rate will go to the standard rate for your credit card. This might be a higher rate, unless you clear your balance in full before the introductory offer ends. If you don’t make your minimum payment each month, you’ll lose your introductory rate.

Things to look out for

  • The interest rate and any fees charged to your account. This is known as the Annual Percentage Rate (APR) and is useful for comparing the overall costs of credit cards.
  • How long the introductory offer lasts for.
  • Only borrow what you can afford to pay back each month.
  • Make sure the credit card limit suits your needs.
  • Try to pay back what you’ve spent in full each month, so you don’t have to pay interest on what you’ve borrowed.

Features you’d expect – as standard

Check if you're eligible

 

 

Already with Bank of Scotland

Scan the QR code to get the app.

You must be registered for online banking to apply in the app.

Once you're in, select Apply then Credit cards.

 

 
 

Check online

Check your eligibility for a credit card and get an estimated credit limit. This won't impact your credit score, and there's no obligation to apply.
 

Check your eligibility

Already with Bank of Scotland

You must be registered for online banking to apply in the app.

Once you're in, select Apply then Credit cards.

Get the app

Check online

Check your eligibility for a credit card and get an estimated credit limit. This won't impact your credit score, and there's no obligation to apply.
 

Check your eligibility

Already have a credit card with Bank of Scotland?

Visit the customer hub to find out about flexible ways to help manage your credit card.

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