Ulster Bank Balance Transfer Credit Card review 2020

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Existing Ulster Bank customers can transfer debt from cards that aren't held with the RBS group to enjoy 18 months of 0% interest.

If you already hold a mortgage, credit card, savings or current account with Ulster Bank, this deal lets you transfer that debt across to Ulster Bank and benefit from a lengthy 0% interest period.

Finder rating: ★★★★★

Representative example: When you spend £1,200 at a purchase rate of 19.9% (variable) p.a., your representative rate is 19.9% APR (variable).

18 months

0% interest on balance transfers

19.9%

Representative APR

£0

Account fee

3 months

0% interest on purchases

Details

IssuerUlster Bank
NetworkMastercard
Annual/monthly fees£0
Balance transfers0% for 18 months reverting to 19.9%
Balance transfer fee0.49%
Purchases0% for 3 months reverting to 19.9%
Purchases interest-free periodUp to 56 days
Money transfers26.9%
Cash advances26.9%
Min credit limit£400
Max credit limitNot specified
Additional cards available1
Minimum Age18
Minimum income£10,000
ResidencyUK residents
AvailabilityAvailable to existing customers
Annual/monthly fees£0
Balance transfer fee0.49%
Money transfer fee3%
Foreign usage charge (EU)2.75%
Foreign usage charge (rest of world)2.75%
Cash advance fee3% (min. £3)
Late payment fee£12
Duplicate statement fee£0
Exceeding limit fee£12
Additional card fee£0
Dormancy fee£0

Expert review

Chris Lilly

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

There are longer 0% deals than this available on the market (up to 29 months, in fact), but this card offers a noticeably lower balance transfer fee.

Remember that if you haven’t cleared your balance when the 18 months are up, your remaining debt will start to accrue interest at the card’s standard rate. Additionally, some cardholders will be given a higher standard rate than the advertised 19.9%, depending on Ulster Bank’s assessment of their creditworthiness.

If you’re an existing customer, you probably already use the Ulster Bank app and will be glad to know that, yes, you can track your card using the app. In fact, you can even lock and unlock it from the app, which is ideal when the card’s missing and you’re not sure if it’s down the back of the sofa or in the hands of a thief!

Since it’s on the Mastercard network, your Ulster Bank card will be accepted in more than 40 million locations worldwide and you’ll get access to Priceless Cities experiences.

Pros and cons

Pros

  • Over a year of 0% interest to focus on reducing existing card debt
  • Three months to spread the cost of purchases
  • A relatively low balance transfer fee
  • No annual fee

Cons

  • Minimum annual income requirement of £10,000
  • Applicants with low credit scores are unlikely to be eligible
  • Only available to existing customers

How does it compare?

Ulster Bank's card

Data indicated here is updated daily
Name Product Balance transfers Balance transfer fee Purchases Annual/monthly fees Rep. APR Incentive Link
Ulster Bank Balance Transfer Credit Card Mastercard
0% for 18 months reverting to 19.9%
0.49%
0% for 3 months reverting to 19.9%
£0
19.9% (variable)
Representative example: When you spend £1,200 at a purchase rate of 19.9% (variable) p.a., your representative rate is 19.9% APR (variable).
More Info
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Other popular balance transfer deals

Table: sorted by length of 0% balance transfer offer, promoted deals first
Data indicated here is updated daily
Name Product Balance transfers Balance transfer fee Purchases Annual/monthly fees Rep. APR Incentive Link
M&S Bank Transfer Plus Mastercard
0% for 28 months reverting to 19.9%
2.85% (min. £5)
0% for 6 months reverting to 19.9%
£0
19.9% (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 19.9% (variable) p.a., your representative rate is 19.9% APR (variable).
Check eligibility
More Info
HSBC Balance Transfer Credit Card
0% for 25 months reverting to 21.9%
1.5% (min. £5)
0% for 3 months reverting to 21.9%
£0
21.9% (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 21.9% (variable) p.a., your representative rate is 21.9% APR (variable).
Check eligibility
More Info
M&S Bank Shopping Plus Mastercard
0% for 20 months reverting to 19.9%
2.9% (min. £5)
0% for 20 months reverting to 19.9%
£0
19.9% (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 19.9% (variable) p.a., your representative rate is 19.9% APR (variable).
Check eligibility
More Info
The Royal Bank Balance Transfer Credit Card (eligibility criteria apply)
0% for 18 months reverting to 19.9%
0.49%
Transfers must be made within 3 months of account opening
0% for 3 months reverting to 19.9% p.a. (variable)
£0
19.9% (variable)
Representative example: When you spend £1,200 at a purchase rate of 19.9% (variable), your representative rate is 19.9% APR (variable).
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More Info
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Approval for any credit card will depend on your status. The APR shown represents 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.

Repayment options

When it comes to repayments, you can make manual repayments online or over the phone (0800 046 6486), or alternatively 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 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 Ulster Bank Balance Transfer Credit Card

If you’ve compared cards and want to apply, completing the secure online application form takes about 10 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

How long does it take to receive the Ulster Bank Balance Transfer Credit Card?

You'll know whether or not your application has been approved within 5 minutes of submission. As long as it's approved, Ulster Bank states your shiny new card will be with you in 5-7 working days.

If I miss a repayment, will I lose my interest free offer?

No, but there are plenty of other good reasons not to miss a credit card payment, like hurting your credit score and getting hit with a penalty fee.

How much can I transfer using Ulster Bank Balance Transfer Credit Card?

You'll be able to transfer up to 95% of your available credit limit. Credit limits are tailored to the applicant and will be based on Ulster Bank's assessment of your circumstances.

How can I request to change my credit limit on the Ulster Bank credit card?

You can do this through internet banking by selecting "Cards" from the main menu. In the "Manage your personal credit card" section select "Manage your credit card limit". Add your annual income, requested credit limit and the last 5 digits of your card. Finally, select "submit". Alternatively, you can call a customer adviser 0800 046 6486.

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Our team evaluates credit cards to determine their value against similar products on the market.

We look at the how good the card is for its designated purpose (spending abroad, clearing debt, earning air miles, etc), how costly it is to use day-to-day and whether it offers much in the way of extras.

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