Balance transfer credit card remains outstanding | Product News - Moneyfacts

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Balance transfer credit card remains outstanding

Balance transfer credit card remains outstanding

Category: Credit cards
Date: 18/11/2015

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 It is now over 6 months old so the content may be out of date.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 slightly increased the introductory balance transfer fee on one of its credit cards, but despite this, it retains its coveted chart position thanks to its enduring appeal.

The basics…

The Platinum Purchase and Balance Transfer Visa now has an introductory balance transfer fee of 1.49% after a partial refund. It also boasts a 20-month 0% interest term for both balance transfers and purchases, offering borrowers an attractive combination.

The finer details…

Balance transfers must be made within the first 60 days to be eligible for the introductory offer. After the 20-month term, balance transfers will be charged at a yearly rate of 18.9%, while standard purchases will attract a charge of 18.9% APR.

Borrowers must be at least 21 years old with a minimum income of £20,000 to apply, and should remember that rates are representative and dependent on credit ratings.

Remember, in order to secure a mortgage, credit card or personal loan you need to have a good credit rating. To find out if yours has a clean bill of health, contact a credit check provider, such as Experian Credit Expert to investigate your credit report.

Why we like it…

The slight increase to the balance transfer fee on this card hasn't been enough to dent its competitiveness, with the 20-month interest-free period benefiting borrowers of all kinds. This is an outstanding product that truly 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 Any products featured may be withdrawn by their provider or changed at any time.

 

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 Any products featured may be withdrawn by their provider or changed at any time.

 
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