Compare Lloyds Bank balance transfer offers for December 2019

With its wide range of balance transfer credit cards, Lloyds Bank is likely to have a suitable deal for you.

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Lloyds Bank offers an impressive selection of balance transfer deals, so whatever your balance transfer requirements are, there’s a good chance Lloyds will be able to 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 period to clear your debt, Lloyds is among the front-runners here, too. What’s more, there are options with shorter 0% periods that come with 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

Table: sorted by representative APR, promoted deals first
Updated December 13th, 2019
Name Product Balance transfers Balance transfer fee Purchases Annual/monthly fees Rep. APR Incentive Representative example
Lloyds Bank Online Platinum 20 Month Purchase and Balance Transfer Mastercard
0% for 20 months reverting to 19.94%
3% (min. £3)
0% for 20 months reverting to 19.94%
£0
19.9% (variable)
Representative example: When you spend £1,200 at a purchase rate of 19.94% (variable) p.a., your representative rate is 19.9% APR (variable).
Lloyds Bank Platinum No Fee 0% Balance Transfer Mastercard
0% for 15 months reverting to 19.94%
0% for 3 months reverting to 3% (min. £3)
0% for 6 months reverting to 19.94%
£0
19.9% (variable)
Representative example: When you spend £1,200 at a purchase rate of 19.94% (variable) p.a., your representative rate is 19.9% APR (variable).
Lloyds Bank Online Platinum 28 Month Balance Transfer Mastercard
0% for 28 months reverting to 19.94%
3% (min. £3)
0% for 6 months reverting to 19.94%
£0
19.9% (variable)
Representative example: When you spend £1,200 at a purchase rate of 19.94% (variable) p.a., your representative rate is 19.9% APR (variable).
Lloyds Bank Online Platinum 24 Month Balance Transfer Mastercard
0% for 24 months reverting to 19.94%
1.5% for 3 months reverting to 3% (min. £3)
0% for 12 months reverting to 19.94%
£0
19.9% (variable)
Representative example: When you spend £1,200 at a purchase rate of 19.94% (variable) p.a., your representative rate is 19.9% APR (variable).
Lloyds Bank (Branch) Classic Mastercard
0% for 16 months reverting to 27.95%
3% (min. £3)
0% for 6 months reverting to 27.95%
£0
27.9% (variable)
Representative example: When you spend £1,200 at a purchase rate of 27.95% (variable) p.a., your representative rate is 27.9% APR (variable).

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How do Lloyds balance transfers work?

  1. You can apply for a Lloyds Bank balance transfer card via the bank’s website. It includes a “check your eligibility” feature at the top of its credit card pages, which suggests the credit cards you’re likely to be approved for. The feature only requires a few basic details and will perform a “soft search” of your credit file that won’t affect your credit rating. As such, it’s worth checking the results of this test before choosing which card to apply for.
  2. Once you’ve chosen the card you want to apply for, do so by clicking the “Apply Now” button underneath it. The application process supposedly only takes 10 minutes. You’ll need to provide your bank details, address history and other personal information. Lloyds Bank will make a decision on your application within five minutes. If you’re denied your credit card of choice, you may be offered the Lloyds Classic credit card, which will have a higher APR and different promotional offers.

During the application, you’ll have the option of giving details about the balance(s) you’d like to transfer. You don’t have to do this immediately, but Lloyds’ 0% balance transfer offers only apply to balances transferred in the first 90 days of card ownership.

How long does a Lloyds balance transfer take?

If you’re approved for Lloyds balance transfer card, you’ll receive it within seven 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 will need to make arrangements with your current bank. However, Lloyds states that once arrangements are complete, the money will normally arrive 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 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 will show 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 being transferred.
  • 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.

Other frequently asked questions

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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