Barclaycard, CREDIT CARDS
Barclaycard Offers 18 Months Free Balance Transfer Rate
Anyone with a massive credit card bill take note: Barclaycard has just launched a market first 18 month 0% on balance transfer rate for new customers.
The offer for new Barclaycard Platinum customers is the longest on the market. Barclaycard Platinum also offers 0% interest on purchases for the first three months and a typical APR of 16.9% variable.
The credit card balance transfer market has been increasingly competitive in recent months as card providers battle with each other to win new customers and Barclaycard’s bold move of introducing an 18 month 0% deal for balance transfers is great news for consumers looking to move their existing credit card debt.
Earlier this week Nationwide moved to the top of the best buy tables for 0% credit card balance transfers.
“They matched the 17 month 0% period offered by Barclaycard but with a lower representative APR at 15.9% compared to Barclaycard's 16.9%,” explains Chris Griffiths, head of Credit Cards at Confused.com.
“Barclaycard responded immediately by launching their 18 month deal, which includes a £20 discount from the balance transfer fee when new customers transfer £3,000 or more during February.”
As with all financial services it is important that you ensure to keep within your credit card agreements. It is vitally important that you make the minimum credit card payment each month.
For a limited period only, new Barclaycard Platinum customers applying through Barclaycard’s website and partner sites can enjoy £20 off the handling fee of 2.9% for transfers over £3,000. The £20 discount means that customers who transfer a balance of £3,000 to their new Barclaycard Platinum sees the effective handling fee cut from 2.9% to just 2.23% .
Anyone switching to the new record balance transfer credit card will benefit from Barclaycard’s exclusive reward service, too: Barclaycard Freedom. The service provides ‘reward money’ in pounds and pence in thousands of retailers across the UK and online, without the need to carry additional cards or vouchers.
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