Bank of Scotland Platinum 0% Purchase and Balance Transfer Mastercard review 2021

Cut interest payments on existing card debt while spreading the cost of upcoming purchases.

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Representative example: When you spend £1,200 at a purchase rate of 21.93% (variable) p.a., your representative rate is 21.9% APR (variable).

17 months

0% interest on balance transfers

21.9%

Representative APR

17 months

0% interest on purchases

£0

Account fee

Details

IssuerBank of Scotland
NetworkMastercard
Annual/monthly fees£0
Balance transfers0% for 17 months reverting to 21.93%
Balance transfer fee2.99% for 3 months reverting to 5%
Purchases0% for 17 months reverting to 21.93%
Purchases interest-free periodUp to 56 days
Cash advances21.93%
Min credit limit£0
Max credit limitNot specified
Additional cards available1

Review by


Chris Lilly is a publisher at finder.com. He's a specialist in credit-based products including business and personal loans, mortgages and credit cards, and is passionate about helping UK consumers make informed decisions about their borrowing. In his spare time Chris likes forcing his kids to exercise more.

Expert review

This is quite a comprehensive credit card. If you’re looking to reduce the interest that you’re currently paying on card debt, then a balance transfer deal can be a smart choice – buying you time to focus on clearing the debt. Where you’re also likely to need to use the card for upcoming purchases, a “matched” or “balanced” card such as this, with an introductory 0% interest period that applies to both existing and new balances, can be ideal.

The 2.99% for 3 months reverting to 5% balance transfer fee isn’t the cheapest on the market, but it’s still much less than the interest you’d be charged with a standard credit card. It’s also important to remember that if you don’t clear your balance in full within the 17 months, any outstanding balance will start to accrue interest at the card’s standard rate. You should plan ahead and make sure you’ve cleared your debt by then.

While the financial features of this card are all in all quite solid, don’t expect much in terms of rewards, perks or extras. There is also a 2.95% foreign transaction fee, which is quite standard but also means this card is not necessarily the best holiday shopping companion. If these things are important for you, you may be better off with a different deal.

Pros and cons

Pros

  • Over a year of 0% interest to focus on reducing existing card debt
  • Over a year to spread the cost of purchases
  • No annual fee

Cons

  • Applicants with low credit scores are unlikely to be eligible

Compare other cards with “matched” 0% deals

Table: sorted by representative APR, promoted deals first
Name Product Purchases Balance transfers Annual/monthly fees Representative APR Incentive Link
M&S Bank Shopping Plus Credit Card
0% for 22 months reverting to 21.9%
0% for 22 months
(2.9% fee)
£0
21.9% APR (variable)
Earn 1 point for every £1 spent at Marks and Spencer's and 1 point for every £5 spent elsewhere. 100 points = £1 reward voucher. Points will be converted into reward vouchers 4 times a year.
Representative example: When you spend £1,200 at a purchase rate of 21.9% (variable) p.a., your representative rate is 21.9% APR (variable).
Check eligibility
HSBC Purchase Plus Credit Card Visa
0% for 18 months reverting to 22.9%
0% for 18 months
(2.9% fee)
£0
22.9% APR (variable)
Discounts and exclusive offers for dining experiences, leisure activities and shopping available through HSBC Home and Away.
Representative example: When you spend £1,200 at a purchase rate of 22.9% (variable) p.a., your representative rate is 22.9% APR (variable).
Check eligibility
Sainsbury's Bank Dual 22 Month Offer Credit Card Mastercard
0% for 22 months reverting to 20.95%
0% for 22 months
(3% fee)
£0
20.9% APR (variable)
Earn 3 Nectar points per £1 spent in Sainsbury's and Argos. Earn 1 Nectar point for every £5 spent elsewhere. Earn 500 bonus points each time you spend £35 or more on Sainsbury's shopping with your credit card, up to ten times in your first 2 months, offer available for new customers.
Representative example: When you spend £1,200 at a purchase rate of 20.95% (variable) p.a., your representative rate is 20.9% APR (variable).
MBNA 0% Transfer and Purchase Credit Card
0% for 21 months reverting to 21.93%
0% for 21 months
(2.99% fee)
£0
21.9% APR (variable)
Earn up to 15% cashback on purchases through Smart Rewards at popular retailers.
Representative example: When you spend £1,200 at a purchase rate of 21.93% (variable) p.a., your representative rate is 21.9% APR (variable).
Tesco Bank Clubcard Balance Transfer and Purchases Credit Card
0% for 20 months reverting to 20.94%
0% for 20 months
(1.99% fee)
£0
20.9% APR (variable)
1 point per £4 spent (£4 minimum) in Tesco and 1 point per £8 spent (£8 minimum) outside Tesco, must have available credit to earn points. Card can also be used as a Clubcard to collect standard points at 1 point per £1 spent on shopping and 1 point per £2 spent on fuel. Points are converted to Tesco vouchers which can be used towards shopping or exchanged for Partner Rewards.
Representative example: When you spend £1,200 at a purchase rate of 20.94% (variable) p.a., your representative rate is 20.9% APR (variable).
Ulster Bank Purchase & Balance Transfer Credit Card Mastercard
0% for 20 months reverting to 21.9%
0% for 20 months
(1.99% fee)
£0
21.9% APR (variable)
Representative example: When you spend £1,200 at a purchase rate of 21.9% (variable) p.a., your representative rate is 21.9% APR (variable).
Royal Bank of Scotland Purchase & Balance Transfer Credit Card Mastercard
0% for 20 months reverting to 21.9%
0% for 20 months
(1.99% fee)
£0
21.9% APR (variable)
Representative example: When you spend £1,200 at a purchase rate of 21.9% (variable) p.a., your representative rate is 21.9% APR (variable).
NatWest Purchase & Balance Transfer Credit Card Mastercard
0% for 20 months reverting to 21.9%
0% for 20 months
(1.99% fee)
£0
21.9% APR (variable)
Representative example: When you spend £1,200 at a purchase rate of 21.9% (variable) p.a., your representative rate is 21.9% APR (variable).
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Repayment options

You can make manual repayments through Bank of Scotland's app, by logging in to your online banking or over the phone (0345 964 5645). Alternatively, you may wish to set up a direct debit.

A direct debit protects you from forgetting to make a repayment and either damaging your credit score, getting hit with a penalty fee (£12) or losing any promotional rates as a result. You could use a fixed-amount direct debit to ensure you've cleared your debt before the 0% period expires – simply divide your outstanding balance by 17 to see what you'll need to pay each month (this assumes you don't use the card for additional spending).

You can arrange a direct debit for repayments when you apply for the credit card. The table below shows the options available.

Choose from the following direct debit options for your monthly repayments:

Minimum amount Fixed amount Fixed percentage Full amount

How to apply for this card

If you've compared cards and settled on the Bank of Scotland Platinum 0% Purchase and Balance Transfer Mastercard, completing the secure online application form takes about 15 minutes. Before you apply, check that you meet the eligibility requirements and have the information and documents you'll need to make the process as straightforward as possible.

Frequently asked questions

Can I withdraw cash using the Bank of Scotland Platinum 0% Purchase and Balance Transfer Mastercard?

Although it's possible, withdrawing cash from a credit card account is generally not a good idea, as "cash-like transactions" (such as withdrawing cash at an ATM, getting cashback at the till, spending at a casino or buying currency) often incur steep fees and/or higher rates of interest.

The cash advance fee on the Bank of Scotland Platinum 0% Purchase and Balance Transfer Mastercard is 5%.

The interest rate on this part of your balance will be 21.93% (chargeable from the day of the transaction – the card's usual "up to 56 days interest-free" grace period won't apply).

How much does it cost to use the Bank of Scotland Platinum 0% Purchase and Balance Transfer Mastercard abroad?

Non-sterling transactions are subject to a 2.95% charge. For example, if you spend 200 euros (£168.56), it'll cost you around £4.97 in fees.

What is the minimum payment on the Bank of Scotland Platinum 0% Purchase and Balance Transfer Mastercard?

Each month you must pay at least 2.5% of your balance at that point or £5.00 – whichever of the two figures is greater. So if you had, say, £180.00 outstanding, you'd pay £5.00, and if you had £800.00 outstanding, you'd pay £20.00.

Paying only the minimum required amount each month is generally not advisable as it makes it much harder to get debt-free before that introductory 0% period expires.

Finder credit card ratings

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★★★★★ — Poor

Our experts score matched/balanced credit cards to determine their value against similar products on the market. We look at a number of important factors, like the length of the introductory offer, balance transfer fees, any restrictions to the offer, plus the potential costs involved with running the card both in the short and longer term.

You can read more about our scoring criteria on our credit card methodology page.

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.

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