Compare Lloyds Bank balance transfer offers

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

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Name	Product	Finder score	Finder score	Balance transfers	Balance transfer fee	Purchases	Annual/monthly fees	Representative APR	Incentive	Link
Lloyds Bank Platinum Low Rate Credit Card		3.5 ★★★★★	★★★★★ Expert analysis	10.94%	5% (0% fee if transfer is completed within the first 90 days)	10.94%	£0	10.9% APR (variable)	Representative example: When you spend £1,200 at a purchase rate of 10.94% (variable) p.a., your representative rate is 10.9% APR (variable).	Read review	Compare	loading Fetching your data...
Lloyds Bank Platinum 0% Purchase and Balance Transfer Credit Card Mastercard		4.0 ★★★★★	★★★★★ Expert analysis	0% for 18 months reverting to 24.94%	2.99% for 3 months reverting to 5%	0% for 20 months reverting to 24.94%	£0	24.9% APR (variable)	Representative example: When you spend £1,200 at a purchase rate of 24.94% (variable) p.a., your representative rate is 24.9% APR (variable).	Read review	Compare	loading Fetching your data...
Lloyds Bank Platinum 0% Balance Transfer Credit Card Mastercard		4.0 ★★★★★	★★★★★ Expert analysis	0% for 27 months reverting to 24.94%	3.2% for 3 months reverting to 5%	0% for 6 months reverting to 24.94%	£0	24.9% APR (variable)	Representative example: When you spend £1,200 at a purchase rate of 24.94% (variable) p.a., your representative rate is 24.9% APR (variable).	Read review	Compare	loading Fetching your data...

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How do Lloyds Bank 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’ll likely 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, click 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 decide on your application within 5 minutes. If you’re denied your credit card of choice, you may be offered the Lloyds Bank Classic credit card, which will have a higher APR and different promotional offers.

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

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.

Customer reviews

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.

Our verdict

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

• What cards can I transfer a balance from?

  You can transfer a balance from any Visa, Mastercard or American Express credit card or store card not issued by Lloyds Bank.

• How much can I transfer?

  The minimum amount you can transfer is £100. There is no maximum amount you can transfer, provided you don’t exceed your credit limit. This limit depends on Lloyds Bank’s assessment of your financial circumstances and will be revealed to you once you’ve been approved for a card.

• When will I pay interest on transferred balances?

  You’ll pay interest on all transferred balances after your 0% introductory period ends. If you transfer a balance after 90 days of card ownership, you’ll start paying interest on this immediately. If you go overdrawn or miss a minimum repayment on your credit card, your 0% deal will be closed early, and you’ll start paying interest on your remaining balance.

• How do I make repayments on my credit card?

  You can set up a direct debit or make manual repayments online or over the phone.