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Lloyds Bank 0% balance transfer card with 0.70% balance transfer fee

24th March 2014 Print

Lloyds Bank has unveiled a new balance transfer card with a market leading balance transfer fee of just 0.70% on balances transferred within the first 90 days. The card will offer customers a 15 month interest-free period on balance transfers and 6 months interest-free on new purchases.
The 15 month 0% balance transfer credit card is only available online. Lloyds Bank will refund 2.30% of the 3% balance transfer fee initially charged, which means all new customers will pay just 0.70%.  After the 15 month offer period, the APR will be 17.9%
Significant savings
For those looking to restructure their existing credit balances, based on a typical balance transfer of £2,000 charging 17.9% APR (variable), customers moving to the new Lloyds Bank balance transfer credit card would be £344 better off over the 15 month period.