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Understanding balance transfers

What is a balance transfer?

A balance transfer is where part or all of a debit balance (or debt) you owe to another lender is transferred from one card to another, usually to save money on interest repayments. 

A balance transfer credit card can be a good way to slow down and take stock of your debt. With everything in one place it’s easier to keep track of your balance and payments.

By transferring high interest balances to a credit card which features a promotional offer or lower rate, you could save on interest repayments. Although remember that handling fees might apply to any transfers you make.

Transferring other debts to an MBNA credit card and paying only the minimum amount due each month may lower your overall monthly debt repayments, but it may take you longer and cost you more to repay what you owe. Other lenders may charge a fee for settling a loan early.

Great benefits

Other great benefits

Transferred fast – for existing customers, approved transfers will reach your credit card account the next business day, unless you make your request after 4pm, or on a weekend/bank holiday, when it’ll take an extra business day. That’s so long as your request passes our normal security checks and there aren’t delays at your existing credit provider.


You’ll need to make a minimum payment each month but we won’t charge you extra if you’d like to pay more each month to clear your balance faster.

Important to remember
  • All transfers are subject to our approval.
  • You can transfer up to 95% of your available credit limit (including the value of any handling fees).
  • You cannot transfer balances between MBNA accounts.
  • Once the transfer has been processed you cannot cancel it and any fees cannot be returned.

Promotional offers – if you’ve taken advantage of a promotional offer, but you haven’t paid off the transfer amount in full before that offer ends, interest will be payable on the remaining amount at the standard interest rate applicable at that time.

Remember to stay within your limit and to make your monthly payments on time, otherwise you’d lose the promotional offers on your account and pay the standard interest rate instead.

Promotional offers will no longer apply from the beginning of any statement period during which you have breached your terms and conditions, for example if you haven’t paid on time or have gone over your credit limit. You cannot transfer balances between MBNA accounts.

Balance Transfer Example
How to make a transfer

How to make a transfer

You’ll need to know how much you want to transfer, along with the details of the account you want us to transfer that amount from.

Not a customer?

You can request a transfer as part of any new credit card application. If you apply online it’s one of the options on the ‘account choices’ section. Compare MBNA balance transfer credit cards.

Existing customers

It’s easy to request a transfer using our online and mobile services, just log in or register to get started.

There’s always the phone

If you need a hand with your balance transfer, simply contact us.

1 This example is provided for illustrative purposes and may not be representative of real account information. If a balance isn’t clear when a promotional period has come to an end, the standard interest rate (at that time) will apply, which may reduce the value of any savings made over time.

If you make card purchases, you will pay interest on these transactions, unless you pay your statement balance in full, every month or if you have a retail promotional interest rate of 0% on your account.

The credit cards are issued by MBNA Limited. Registered Office: Stansfield House, Chester Business Park, Chester CH4 9QQ. Registered in England and Wales under company number 02783251. Authorised and regulated by the Financial Conduct Authority. MBNA Limited is also authorised by the Financial Conduct Authority under the Payment Services Regulations 2009, Register Number: 204487 for the provision of payment services. American Express® is a registered trademark of the American Express company. MBNA Limited issue the MBNA American Express® Credit Card pursuant to a licence from American Express. Credit is available, subject to status, only to UK residents aged 18 or over.

Calls and online sessions (e.g. completing an application) may be monitored and/or recorded for quality evaluation, training purposes and to ensure compliance with laws and regulations.