Applying for a new balance transfer credit card usually takes around 10 to 15 minutes, and most providers will then offer an online decision on your application within minutes. If you indicated on your application the balances you want to transfer, it could take up to two weeks for you to see the debt in your new account and for your new card to arrive.<\/p>
| Institution<\/th> | Number of days to process<\/th><\/tr><\/thead> |
|---|---|
| Barclays Bank<\/a><\/th> | By the next working day.<\/td><\/tr> |
| Capital One<\/a><\/th> | By the next working day.<\/td><\/tr> |
| First Direct<\/a><\/th> | Up to 5 working days.<\/td><\/tr> |
| Halifax<\/a><\/th> | By the next working day.<\/td><\/tr> |
| HSBC<\/a><\/th> | Between 3 to 4 working days.<\/td><\/tr> |
| Lloyds<\/a><\/th> | By the next working day.<\/td><\/tr> |
| MBNA<\/a><\/th> | By the next working day.<\/td><\/tr> |
| NatWest<\/a><\/th> | By the next working day.<\/td><\/tr> |
| Sainsbury’s Bank<\/a><\/th> | Up to 10 working days.<\/td><\/tr> |
| Santander<\/a><\/th> | By the next working day.<\/td><\/tr> |
| Tesco Bank<\/a><\/th> | Up to 2 working days.<\/td><\/tr> |
| Virgin Money<\/a><\/th> | By the next working day.<\/td><\/tr><\/tbody><\/table> Keep in mind that if you make your balance transfer request in the evening or during a weekend, your balance transfer will take an additional day, as your provider won’t start processing it until the next working day.<\/p> If you don’t see your balance transfer applied to your new account within two weeks, contact your new card provider to confirm when it should appear. You can then begin the work of repaying your debt before the promotional period ends.<\/p> How does a credit card balance transfer work?<\/h3>If your outstanding credit cards and loans are difficult to repay due to high-interest rates or multiple statements, you may want to consider a balance transfer credit card<\/a>.<\/p> A balance transfer card allows you to move your existing debt, across multiple cards or one, to a new credit card which could offer a low or 0% introductory rate. These intro deals can last up to two years and makes it easier to pay off debt since you will not be charged monthly interest like you do with a credit card without a promotional period. Though after this period is over, the provider will begin to charge interest on your balance. <\/p>\n |