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What is a balance transfer, and how can I complete a balance transfer using my Revolut Credit Card?

You can transfer the balance on other credit cards to your Revolut Credit Card, so you have just one monthly payment at a promotional rate of 0% for the first 3 months.

You'll also need to make your minimum monthly repayment on time each month to keep the 0% promotional interest rate. Once it expires, we'll apply the standard variable rates applicable to your credit card account.

Follow these steps to complete a balance transfer using your Revolut Credit Card:

  1. Head to the 'Transfers' tab → Select '+ New'.
  2. Then you can transfer funds to either an existing bank account (using an IBAN or BIC) or by entering the debit card on that account. Please make sure you select 'credit card available credit' as your source of funds. You won't be able to transfer money directly to another credit card. The money must first be transferred to another bank account outside of Revolut.
  3. Once you choose the destination, you'll need to select how much of your credit limit you wish to transfer. In order to transfer the money from your credit card, you need to select your credit card as source of funds from the dropdown menu. If you don't, the funds will transfer from the default destination.
  4. Once the funds arrive in your bank account, it's up to you to transfer the money to clear off your old credit card, and/or complete the balance transfer. We recommend you revert back to your credit card provider to make sure this has been fully completed and closed off, if requested.