CREDIT CARDS
Barclaycard offer approaches deadline
The deadline for the Barclaycard Platinum credit card is fast approaching. As of 12pm on the 1st February, Barclaycard’s longest ever balance transfer card will no longer be available.
The card gives consumers an extensive 24 months at 0% interest on balance transfers. There is a 3.2% fee and the variable APR is 17.9% after the promotional period.
The 3.2% transfer fee could be considered relatively high in comparison to others and it may quickly add up, especially if you are looking to make more than one balance transfer.
The NatWest Platinum credit card, for example, may only have a 20 month 0% interest on balance transfers, however, the rate is 2.9% thereafter.
Consumers looking to shift their debt into one place with a balance transfer would be advised to look around for the best deal. The Barclaycard Platinum card is currently offering the longest 0% transfer period on the market.
If you are concerned that you may miss the deadline, this is not the first time the deal has been withdrawn. This means there is a chance that the card and deal could re-appear in the future.
Speaking to This is Money, a spokesman for Barclaycard said that they could not “speculate when or if, it [the 24 month balance transfer card] will be available again.”
There has been a recent surge in the number of credit cards on the market offering longer than 0% balance transfer periods.
"Last year saw a number of new credit card offers with increased promotional periods on purchase and balance transfers,” commented Kevin Mountford from MoneySupermarket.
“Barclaycard offers a staggering 24 months interest free on balance transfers on their card, which is great for anyone looking to consolidate their debts.”
Tags: balance transfers, Barclaycard Platinum credit card, CREDIT CARDS