Credit cards Date:
Barclaycard has boosted the length of its interest-free balance transfer deal on one of its credit cards to 37 months, the joint longest term available. As a result, it has taken a place right at the top of the Moneyfacts charts and earned an 'outstanding' rating in the process.
The newly-renamed Platinum 37 Month Balance Transfer Visa now has a joint market-leading 0% balance transfer term of 37 months, enabling it to sit right at the top of its sector. An introductory fee of 2.69% will be charged (after a partial refund), and it also boasts an introductory interest-free purchase term of six months.
Balances must be transferred within 60 days of the account opening in order to qualify for the interest-free deal. Once the introductory offers expire, an annual rate of 18.9% will be applied to balance transfers along with a 3.5% fee, while purchases will be charged at 18.9% APR.
Borrowers must be at least 21 years old and have an annual income of at least £20,000. Applications can be made online, by post and by phone. Borrowers should remember that rates are representative and dependent on their credit rating.
The increase to the interest-free balance transfer term has sharpened this deal's competitive edge and pushed it into joint leadership of its sector, something that is sure to trigger interest among borrowers seeking to clear their credit card debt. 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 Any products featured may be withdrawn by their provider or changed at any time.
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