Balance transfer card becomes more competitive | Product News - Moneyfacts

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Balance transfer card becomes more competitive

Balance transfer card becomes more competitive

Category: Credit cards
Date: 01/03/2016

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Barclaycard has reduced the balance transfer fee on one of its credit cards, boosting its competitiveness and securing an "excellent" rating for its highly appealing terms.

The basics…

The Platinum 32 Month Balance Transfer Visa not only boasts a lengthy 32-month introductory term but it also comes with a balance transfer fee of just 0.89% (after a partial refund), as well as a six-month interest-free term for purchases, offering borrowers the complete package.

The finer details…

Balance transfers must be made within 60 days of account opening in order to qualify for the interest-free deal. After their respective introductory periods have come to an end, balance transfers will be charged at an annual rate of 18.9%, and standard purchases will be charged at 18.9% APR.

Borrowers must be at least 18 years-old and should remember that rates are representative and dependent on credit ratings.

Why we like it…

The reduction to the balance transfer fee makes this already popular credit card even more appealing, giving borrowers almost three years to clear their debts with the added bonus of a low fee, boosting its competitiveness even further.

Moneyfacts rating: Excellent

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 Any products featured may be withdrawn by their provider or changed at any time.

 

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 Any products featured may be withdrawn by their provider or changed at any time.

 
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