Balance Transfer Credit Card
Pay back your existing credit card balances from one place.
Representative example
20.6% per annum variable after 4 months
with a rate of
providing you have a credit limit of
£1200
To apply the main card holder must meet the following:
- 18 or over.
- UK resident.
- Earning a minimum Gross Annual Income (GAI) of £10,000.
- An existing customer having held a Co-operative Bank or smile current account for at least 7 months (Cashminder, Student and Pathfinder accounts are not eligible).
- Not had any County Court Judgements (CCJs), entered into any Individual Voluntary Arrangements (IVAs) or Trust Deeds nor been declared bankrupt within the last 6 years.
- Not in arrears or have not missed more than 2 payments on any credit agreement in the last six months.
- Must be employed full time, part time, self-employed or retired.
- Additional cardholders can be unemployed as long as they’re 18 or over and a UK resident.
Approval is subject to status and based on a credit check and an assessment of your personal circumstances.
Balance Transfer Calculator
Calculations shown are for illustrative purposes only and are based on fixed monthly payments.
Illustrative example
A balance transfer of
would be fully paid in
years months
based on a representative rate of
20.6% APR variable
This includes a transfer fee of:
You would have to repay a total of
To apply the main card holder must meet the following:
- 18 or over.
- UK resident.
- Earning a minimum Gross Annual Income (GAI) of £10,000.
- An existing customer having held a Co-operative Bank or smile current account for at least 7 months (Cashminder, Student and Pathfinder accounts are not eligible).
- Not had any County Court Judgements (CCJs), entered into any Individual Voluntary Arrangements (IVAs) or Trust Deeds nor been declared bankrupt within the last 6 years.
- Not in arrears or have not missed more than 2 payments on any credit agreement in the last six months.
- Must be employed full time, part time, self-employed or retired.
- Additional cardholders can be unemployed as long as they’re 18 or over and a UK resident.
Approval is subject to status and based on a credit check and an assessment of your personal circumstances.
Ready to apply?
This application form will be unavailable from Friday evening until Monday afternoon. We need to make some changes so that it complies with General Data Protection Regulation. We apologise for any inconvenience caused.
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Transfer your balances from other credit cards without paying interest on your transfer for two years
If you owe money on another credit card that charges a higher rate of interest, you could save money by transferring the balance to this card.
With our Balance Transfer Credit Card you can move your balance and pay 0% interest for two years.
This means you can pay off your credit card debts with one card without having increasing interest to pay.
Combine your credit card debts
If you owe money on several credit cards, combining them all in one lower interest credit card could save you money.
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Repayments
You can help to minimise the amount of interest you pay in the following ways:
- Setting up a Direct Debit.
- Making at least the minimum monthly payment.
OR
Paying more than the minimum monthly repayment. This means you’ll be charged less interest and you’ll repay what you owe more quickly.
Minimum repayments
You will need to pay whichever is the greatest amount out of:
- 2% of the amount you owe, as shown as on your statement or £5
- or 1% plus fees, interest and charges.
If the balance shown on your statement is less than £5, your minimum payment will be all of this amount.
- If you make only the minimum payment each month, it will take you longer and cost you more to clear your balance.
Missing and late repayments
Unlike some banks, if you miss or make a late repayment you will not be taken off the introductory balance transfer offer.
- You will have to pay a late payment fee of £10 and this could impact your credit rating.
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Annual Fee
- There is no annual fee for having this card.
Cash fee
The amount we charge for withdrawing cash – including foreign currency, Travellers Cheques, gambling transactions and loading pre-paid cards.
3% of value (minimum of £3)
Balance transfer fee
What we charge for transferring your balance to the card.
1% (minimum of £5)
Duplicate statement
What we charge for sending a copy of a past statement to you.
£2.50
Late or missed payment
What we charge if we do not receive a payment, or we receive a payment after the due date.
£10
Exceeding credit limit
What we charge if you spend more than the credit limit we've agreed with you.
£10
Uncleared payment cheque / Direct Debit
What we charge if you make an uncleared Direct Debit or cheque. For example, if you do not have sufficient funds in your account to make a payment.
£10
Foreign use charges
Payment Scheme Exchange Rate
This is the exchange rate that Visa uses. Rates can be found at:
www.visaeurope.comNon-sterling transaction fee
The charge for carrying out a transaction in a currency other than Great British Pounds (including purchasing Travellers Cheques, foreign currency and gambling transactions).
2.75% of the transactions
(Non-sterling) cash fee
The charge for withdrawing cash when overseas.
- This is charged in addition to the non-sterling transaction fee.
3% of the cash value you withdraw (minimum of £3)
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Minimum credit limit
£500.
Maximum credit limit
This depends on how much we think you can afford to pay back on your card.
Your credit limit will cover any balance transfers, purchases and revolving balances.
- This won't impact your likelihood of being accepted.
Maximum balance transfer limit
The balance transfer limit is 95% of your agreed credit limit.
- This is subject to a minimum transfer of £100.
- Transfers can't be made from The Co-operative Bank cards.
Choosing your credit limit
Please request a limit to cover your needs, including balance transfers and any purchases you intend to make. We will then carry out a credit worthiness check and inform you of your credit limit.
The amount you request will not affect your credit score or our lending decision.
If you don't get accepted for a credit card
After looking at your personal circumstances, we may decline your application. Being refused for credit card can have a negative effect on your credit rating. If this happens, you should avoid applying for the same card again. All applications, positive and negative, will show up on your credit file.
Important documents
Important information, Pre-contract credit information and Terms and Conditions
Download Important information, Pre-contract credit information and Terms and Conditions PDF (1,535KB)Features, benefits and summary box
Download Features, benefits and summary box PDF (102KB)How we use your personal information
Download How we use your personal information PDF (622KB)Our lending commitments and what we ask of you
Download Our lending commitments and what we ask of you PDF (604KB)The Co-operative Bank reserves the right to decline any application.
Whether we can offer you credit depends on your circumstances and our lending policy. We may decline your application based on your circumstances or our lending policy. We may be able to offer a product that's different to the ones advertised.
Contact us
If you'd like more help & information, you can:
