Approval for any credit card depends on your status. The representative APRs shown represent the interest rate offered to most successful applicants. Depending on your personal circumstances, the APR you're offered may be higher, or you may not be offered credit at all. Fees and rates are subject to change without notice. It's always wise to check the terms of any deal before you borrow.
Compare Lloyds Bank balance transfer offers
With its wide range of balance transfer credit cards, Lloyds Bank is likely to have a suitable deal for you.
Lloyds Bank offers an impressive selection of balance transfer deals, so whatever your balance transfer requirements are, there’s a good chance Lloyds Bank can provide a competitive option.
For those moving small sums that won’t take an age to pay off, there’s a no transfer fee deal. However, if you’d like a lengthy time to clear your debt, Lloyds Bank is among the front-runners here, too. What’s more, there are options with shorter 0% periods and smaller balance transfer fees.
It’s not possible to transfer balances from other Lloyds Bank credit cards, loans or bank accounts, but you can transfer balances from cards held with other banks in the same group – namely Halifax, MBNA and Bank of Scotland.
Lloyds Bank 0% balance transfer credit cards
How do Lloyds Bank balance transfers work?
During the application, you can give details about the balance(s) you’d like to transfer. You don’t have to do this immediately, but Lloyds Bank’s 0% balance transfer offers only apply to balances transferred in the first 90 days of card ownership.
Pros and cons
- 0% interest introductory period on balance transfers.
- Can set up a direct debit.
- Interest kicks in after introductory period.
- Balance transfer fee.
How long does a Lloyds Bank balance transfer take?
If you’re approved for a Lloyds Bank balance transfer card, you’ll receive it within 7 days. You’ll then need to activate the card.
From this point, it can be tricky to find out exactly how long your balance transfer will take because Lloyds Bank needs to make arrangements with your current bank. However, Lloyds Bank states that once arrangements are complete, the money normally arrives the next working day.
Crucially, you should keep making any necessary repayments to your old card issuer until you know the balance has been transferred. Otherwise, you risk hurting your credit score.
How should I compare Lloyds Bank balance transfer deals?
Here are some of the key features you’ll want to look at when deciding which Lloyds Bank balance transfer offer might be the best option for you:
- Length of 0% period. The credit cards with longer 0% balance transfer periods have a larger balance transfer fee, so you might not necessarily need the longest 0% deal. If you could clear your balance in less time, consider the shorter deals with lower balance transfer fees. A good way to calculate your best option is to divide the balance by the number of months in the 0% deal. This shows you how much you’d need to pay each month to clear your debt before the promotion expires.
- Balance transfer fee. This is expressed as a percentage of the balance transfer.
- Standard rate. This is the rate that’ll apply to any purchases you make on the card and is typically also the rate you’ll pay on any outstanding balance after your introductory 0% period ends.
Lloyds Bank has a “bad” rating of 1.7 out of 5 on review platform Trustpilot, based on over 4,000 reviews (updated October 2023). Customers reported issues with their local branches and the customer service team.
Customer support information
If you have any queries or need support, you can contact the Lloyds Bank customer service team by giving them a ring on 0345 602 1997 or by contacting them through the Lloyds Bank app.
Lloyds Bank offers a broad selection of balance transfer deals, so there’s a good chance you’ll find the right one for you. If you get one of its balance transfer cards, you can pay off your credit card debt faster, with 0% interest during the introductory period, saving you money when used responsibly.
However, it’s worth noting that once this introductory period ends, your remaining balance will start to accrue interest, so it’s worth clearing your debt before this happens.
Other frequently asked questions
More guides on Finder
Lloyds Bank Platinum Low Rate Credit Card review 2024
See how this straightforward credit card with ongoing low rates across the board compares to the rest of the market.
Lloyds Bank Platinum 0% Balance Transfer Credit Card review 2024
Find out when you might choose this particular balance transfer deal over Lloyds’ many others, and compare live rates, fees and terms against alternative cards.
Lloyds Bank Platinum 0% Purchase and Balance Transfer Credit Card review 2024
Discover how this all-round credit card compares to others on the market.