A new balance transfer card pays off existing store/credit card debt, so you owe it instead but at 0% - and it helps you get debt-free quicker, as repayments cover debt, not interest. Via our link, this new HSBC card will give a big £50 cashback if you shift at least £1,500 to it, and with a lowish 1.4% fee the cashback beats the fee cost on transfers up to £3,500, so you'd profit.
Will you be accepted? Don't just apply - our Balance Transfer Quick Eligibility Calc shows which cards you've best odds of getting, or our FULL Credit Club gives your free Credit Report and Credit & Affordability Scores too. Both do a 'soft' search on your credit file that lenders can't act on, so there's no impact on your creditworthiness. And for some cards the calcs show which providers 'pre-approve' you - ie, will definitely give you the card, subject to passing an ID check.
Not bad its bigger cashback than the Barclaycard but a larger fee of 1.4% and also minimum of £1500 while barclays one was only £500 minimum and a .6% fee!
Could suit some if transferring less than £3500
Latest comments (23)
jobibear
20 Apr 17#23
I have the promise of it now, 2 months, June. I also had to transfer monies up to £1500 to be eligible, which of course incurred more fees but I still work out a profit of about £30 so worth the hassle, especially if you require the 0%. Use the link of this page as reference if needed.
jobibear
15 Apr 17#21
They admit it today, had to transfer more money to get the cashback.... And wait.
Deano172 to jobibear
20 Apr 17#22
How did you get on with this? I had the same. on the phone to Indian call centre for around an hour. They are claiming I should have been re-directed to another site to complete additional info and without this not eligible. I was promised a call back a obviously not happy but no call.
jobibear
15 Apr 17#20
HSBC deny they ever had this offer. I'm on the phone to them later to give them this link.
willllllllll
17 Mar 17#18
How long has the application process taken for anyone that's applied?
Told me up to 10 working days!
blackaqua to willllllllll
17 Mar 17#19
Sounds like your application has been referred for further checks and wasn't automatically processed.
Does anyone know if the balance transfer fee is interest free, or does this have to be paid off?
mwb1
11 Mar 17#16
If you're looking to do a balance transfer, check you're credit rating free with noddle or clear score; Noddle gives an indicator of what cards you will be accepted for then check Quidco for cash back rates...Easiest way to check suitable cards and cash back rates but always read the t's and c's...
Anon32 to mwb1
12 Mar 17#17
or just go for this card as it already offers £50 cash back! So easiest way is to come in here and check the personal finance section
Amerviv
9 Mar 17#15
Eligibility check for me was only 40% of acceptance, yet, my application was successful with a good credit limit for first time HSBC credit card customer. So don't assume that using the eligibility check is accurate chance, I also had 80% chance to get Sainsbury's 29 month credit card and wasn't accepted when applied, so bare that in mind and don't be put off by the percentage of the eligibility check. Try the one that suits you and good luck
nikinaki23
8 Mar 17#6
Do you think you'd be able to do it if you already have an existing HSBC credit card?
FerreroRussian to nikinaki23
8 Mar 171#14
"To be eligible for the Offer Payment described below, the following requirements must be met:
a) you are not an existing HSBC Credit Card holder and have not held a credit card with HSBC within the six months prior to the start of the Offer Period;"
dreamager
8 Mar 17#13
Great card, almost went for this with the cashback. I chose not to though as the minimum payment is the higher of "blah blah or 2.5%..." which makes it more than the £25 set fee of some other cards, so make sure you take a look and see which card will suit your intended situation.
Anon32
8 Mar 171#12
Fixed just a typo
wardi69
8 Mar 17#11
OK. Think you meant £1471? Free money for a little work and an extra 32 months to pay it off, heat from me!
wardi69
8 Mar 17#9
To transfer £1500 would cost £21 so max profit of £29. Not bad, similar to what you'd get through a cashback website. Shame HSBC aren't doing both..
Anon32 to wardi69
8 Mar 17#10
I think the money comes of the balance you transfer so £1500 - £29 = £1471 left to pay and you get 32 months again! Think i'll do it as i have £1800 on sainsburys with 11 months to go i can still pay this off in less than 32 months if i want to!
dreamager
8 Mar 17#8
How long do balance transfers take? I'm thinking of a transfer card before my next payment is due
OldCity
8 Mar 171#7
Eligibility tool is a tota bs again, don't think that if a tool that provides info based on what you input there will be the same as a credit check. Then again the credit check is bs too.
premierfella
8 Mar 17#5
I wouldn't describe it as £50 off - as the OP says you're in profit up to £3500 balance transfer (still not certain I'd bother just for the possible net £21 if I didn't need a 0% balance transfer card).
tek-monkey
8 Mar 17#4
It is £50 cashback, but for doing the transfer not getting the card. There was an AA one with free money I think?
MCGONIS
8 Mar 171#3
Okay. Thanks. Too complicated. So basically the post means, Apply for an HSBC credit card, do a balance transfer and you will get £50 off that balance transfer refunded. £50 cashback offer caught my eye. So it's not really. Voted HOT
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Opening post
Will you be accepted? Don't just apply - our Balance Transfer Quick Eligibility Calc shows which cards you've best odds of getting, or our FULL Credit Club gives your free Credit Report and Credit & Affordability Scores too. Both do a 'soft' search on your credit file that lenders can't act on, so there's no impact on your creditworthiness. And for some cards the calcs show which providers 'pre-approve' you - ie, will definitely give you the card, subject to passing an ID check.
Not bad its bigger cashback than the Barclaycard but a larger fee of 1.4% and also minimum of £1500 while barclays one was only £500 minimum and a .6% fee!
Could suit some if transferring less than £3500
Latest comments (23)
Told me up to 10 working days!
Does anyone know if the balance transfer fee is interest free, or does this have to be paid off?
a) you are not an existing HSBC Credit Card holder and have not held a credit card with HSBC within the six months prior to the start of the Offer Period;"