6 December 2019
2 min read
A balance transfer could take a number of weeks to appear into the account of your new balance transfer card. This is very dependent on the lender that you are using and the amount of money being transferred.
Any change in your credit use can affect your credit score. By opening a new credit card, this creates a file on your credit history which in some cases can impact your credit score. You should be aware that making frequent applications for credit cards and other forms of credit in a short time can temporarily affect your credit score.
Whilst you transfer your existing balance you will need to keep your old credit card account open. Once the transfer has been completed you can then cancel your old the credit card if you wish. You would need to contact your previous lender to close your old credit card as this would not happen automatically when the transfer is complete.
There are a number of ways you can apply for a balance transfer credit card. With many lenders, an application can be completed online or in branch. To take a look at credit cards we offer, visit our dedicated page.
In order to open an account you will need the following information:
Approval for a balance transfer credit card is normally subject to status and based on a credit check and an assessment of your personal circumstances.
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