Credit cards Date:
Barclaycard has increased the standard rates for balance transfers and purchases on its 18-month credit repair card, but despite this, it has retained its market-leading chart position thanks to its ongoing competitiveness.
Barclaycard Platinum 18 Month Balance Transfer Visa offers an 18-month interest-free term for balance transfers (with a 2.99% fee) as well as a three-month 0% interest purchase term.
In order to qualify for the initial interest-free period, borrowers must transfer their balances within 60 days of opening an account. Once the introductory offers come to an end, balance transfers will attract a new annual charge of 24.9%, while standard purchases will be charged at 24.9% APR.
Applicants must be at least 18 to apply and must remember that rates are representative and dependent on their credit rating. Applications can be made online, by phone or by post.
Borrowers who are looking to repair their credit rating and clear outstanding credit card debt are likely to continue to look favourably on this deal. It still boasts competitive interest-free terms, and provided a careful budget is formulated, the debt will be cleared before the increased post-introductory rates kick in. This is an outstanding product that fully deserves the highest Moneyfacts rating.
Moneyfacts rating: Outstanding
Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.
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