The Co-operative Bank Balance Transfer Credit Card review September 2019
Existing customers could enjoy up to 24 months interest-free with The Co-operative Bank.
0% interest on balance transfers
Balance transfer fee
0% interest on purchases
|Issuer||The Co-operative Bank|
|Balance transfers||0% for 24 months reverting to 20.6%|
|Balance transfer fee||0%|
|Purchases||0% for 4 months reverting to 20.6%|
|Purchases interest-free period||Up to 56 days|
|Min. credit limit||£500|
|Max credit limit||Not specified|
|Additional cards available||3|
If you bank with the Co-op and you’re looking to minimise interest and clear your card debt faster, this deal offers an appealing 24 months of 0% interest on balance transfers, and a balance transfer fee of 0%.
What’s more, you won’t lose your 0% deal if you make a late payment (although there are plenty of other reasons not to miss a repayment – not least of all your credit record). So it might give you greater peace of mind than other lenders.
If you also anticipate using the card for upcoming purchases, the card comes with an introductory offer of 0% on purchases for 4 months.
How does this card compare with other similar cards on the market?
When it comes to repayments, you can make manual repayments online or over the phone (0345 600 6000), or alternatively set up a direct debit. A direct debit is a great idea because it protects you from forgetting to make a repayment and either damaging your credit score, getting hit with a penalty fee or losing any promotional rates as a result. 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 the Co-operative Bank Balance Transfer Credit Card
If you’ve compared cards and want to apply, 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.