If you're carrying a balance on existing credit cards, moving it to a 0% balance transfer card can reduce or eliminate the interest paid while the balance is cleared. Halifax offers a Balance Transfer credit card category, alongside 0% on new purchases — the specific rate, 0% period, and transfer fee are personalized and shown only after completing Halifax's free eligibility checker, rather than being fixed for every applicant.

The Halifax brand is changing to Lloyds. Halifax and Lloyds are both part of Lloyds Banking Group, and existing Halifax credit cards will eventually be replaced with Lloyds-branded cards — Halifax will notify customers when this happens. Existing terms, features, and repayment arrangements are unaffected by the change.

Always make sure you can afford repayments.

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How Halifax Balance Transfers Work

A balance transfer moves debt from an interest-charging credit card onto a new card, typically with 0% interest for a set period, in exchange for a one-off transfer fee. Generally, a longer 0% period comes with a higher fee, and a shorter period comes with a lower fee — the exact combination on offer depends on individual circumstances and is shown through Halifax's eligibility checker rather than published as a single fixed rate.

Transfers must usually be made within an initial window after the account is opened (commonly around 90 days) to qualify for the promotional rate; transfers made later may be charged the card's standard transfer fee and won't receive the 0% period.

What to Be Aware Of

Missing a payment or exceeding the credit limit can end the 0% promotional period early, reverting the balance to the card's standard interest rate.

Transferring a balance after the qualifying window closes means paying the standard transfer fee, and the balance won't benefit from the 0% period — losing the main advantage of a balance transfer card.

Whether a balance can be transferred between two Halifax cards, or only from a different provider, may vary by specific card — check the current terms directly with Halifax before applying if this applies to you.

How Much Can You Save With a Balance Transfer?

As an example: someone with a £3,000 balance on a card charging 24.7%, making monthly payments of £100, would take around 48 months to clear the debt, paying roughly £1,715 in interest along the way. Moving the same balance to a 0% card at the same £100 monthly payment would clear it in exactly 30 months, with no interest charged — a saving of around £1,715, and clearing the debt 18 months sooner.

Increasing the monthly payment further compounds this: at £125 a month on a 0% card, the same £3,000 balance would clear in 24 months — six months sooner than at £100 a month, since every extra pound goes directly toward the balance rather than interest.

Any transfer fee charged reduces this saving slightly (for example, a 1% fee on £3,000 costs £30), but is typically far smaller than the interest saved by avoiding a standard rate entirely.

Choosing a Balance Transfer Period

The right length of 0% period depends on how long it will take to clear the transferred balance. A longer 0% period generally comes with a higher transfer fee; a shorter period generally comes with a lower fee. Working out roughly how many months are needed, based on a realistic monthly payment, can help identify whether a longer or shorter — and correspondingly more or less expensive — 0% period fits the amount owed.

Looking for a Balance Transfer Card?

See our Best Halifax Credit Cards page for current card details, or our Best Balance Transfer Credit Cards page to compare offers across providers.

Card details correct as of 04 September 2026. Terms, rates and features are subject to change — always verify current details before applying. This article is for general information only and does not constitute financial advice.