Balance Transfer Credit Cards

How does it work?

Here's a representative example:

Based on an assumed credit limit of £1,200

Representative APR - 24.9% APR (variable)
Purchase rate - 24.9% p.a (variable)

For balance transfers, to get your 0% interest on balance transfers for the first 20 months, you just need to transfer your balance within 90 days of opening your account. After 20 months, the rate for the transferred balance will change to the standard variable rate at the time.

There's more information on how this all works in our Credit Card summary box.

Before you apply

Useful information

The below might not be the most interesting, but it’s definitely important you have a read before applying.

If you know there’s going to be changes to your personal circumstances, like maternity leave or changes to your employment, please apply by phone on 03 456 100 100.

This promotion is only available to first direct Current Account holders who haven't had a first direct Credit Card or Gold Card within the last six months. Credit is subject to status.

Credit Card summary box

Repayment illustration

What you can expect to pay

We all know it makes financial sense to pay more than the minimum payment whenever possible.

Take a look at the example below (which includes introductory rates), for a hypothetical purchase of £1,000 on your Credit Card. If you only make the minimum payment each month, it will take you much longer to clear your balance and will cost you more.

	Minimum payment each month	£50 payment each month	£100 payment each month
Interest you'd pay in the 1st year	£186.25	£153.55	£93.08
Interest you'd pay in the 2nd year	£190.20	£77.54	£0.00
Length of time to clear the balance	19 years, 4 months	2 years, 1 month	11 months

The above example makes a number of assumptions, including:

- The transaction took place on first day of January

- The credit card statement was produced 31 days later

- No further transactions were made on the card

- Payments were made on the 15th day of every month

- Interest is calculated based on the representative 24.9% APR variable rate

- Introductory rates are included

If you set up a recurring transaction (sometimes called a continuous payment authority), for a regular payment like this, it’s seen as an agreement between you and the retailer – so, unfortunately, it won’t be covered by the Direct Debit Guarantee.

Transferring your balances

Once you've received your card you can contact us through our App - go to 'Help' and select 'Chat now'. Or in Online Banking, select 'Message us'. Start your message with ‘I want to complete a Balance Transfer’ and we’ll be able to help you with your request. Transfer requests received after 3.30pm or on a weekend or bank holiday will be processed the next working day. If we approve your request, payment will reach your other credit or store card provider by the end of the next working day

A Balance Transfer fee of 2.99% (min £5) will be charged for each transferred balance made within 90 days of opening your account. After 90 days, the fee will be set out if we send you a balance transfer offer.

Sorry - we can't transfer balances between cards operated by members of the HSBC Group, including HSBC UK Bank plc, its subsidiaries, associated and affiliated companies. These include Marks & Spencer Financial Services plc. We can't transfer from all cards, for example, some store cards.

Ready to apply?

If you're happy with how that all sounds, the easiest way to apply is using the first direct App.

Head to the App to get started.

Scan the QR code to open up the App

Other ways to apply

Bring a little balance

Take control of your finances, we’ll take care of the interest