Balance Transfer Credit Card

Pay back your existing credit card balances from one place.

• 0% interest per annum for 24 months on balance transfers from the date you transfer your balance.

  • After 24 months this increases 20.6% interest per annum.

  • Your balance must be transferred within 60 days of opening this account. We will charge a 1% balance transfer fee for this action (minimum charge £5).

  • You can transfer 95% of your credit limit (minimum £100), however, you can't transfer a balance from another Co-operative Bank or smile credit card.

    Read more about choosing your credit limit

• 0% interest per annum for 4 months on purchases.

  • After 4 months this increases to 20.6% interest per annum.

• You won't lose the introductory offer even if you make a small mistake.

  Unlike some lenders, if you make a late payment, you won’t lose your 0% interest per annum introductory offer.

  • You will receive a £10 charge for missing or making a late payment or exceeding your credit limit.
    See all charges

• Pay using Apple Pay, Google Pay or Samsung Pay.
• No annual fee.

• How balance transfers work

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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.

  • 0% interest for two years is from the date of the transfer.
  • Transfers must be made within 60 days of opening the account.
  • We charge a 1% balance transfer fee.

  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.

• Managing your credit card and repayments

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  Repayments

  You can help to minimise the amount of interest you pay in the following ways:

  1. Setting up a Direct Debit.
  2. 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.

  Read more about paying your credit card
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  Charges and fees

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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.com

  Non-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)

• Credit limits

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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.