Credit cards Date:
Barclaycard has amended selected credit cards in its range, with one of its balance transfer deals enjoying an extended term and a reduced fee, earning an 'excellent' rating in the process.
Platinum 32 Month Balance Transfer Visa has been renamed in light of its extended 0% balance transfer term, which has increased from 30 months. Its introductory balance transfer fee has also been reduced to 1.39% (after a partial refund), one of the lowest fees in its sector and earning it a continued place on the Moneyfacts charts.
As well as a 0% offer on balance transfers, this card also offers six months of interest-free purchases. Once the introductory offers end, standard purchases will be charged at 18.9% APR, while balance transfers will attract a rate of 18.9% per annum.
Borrowers must be aged 21 years or older to apply and have a minimum annual income of £20,000. Applications can be made online, by phone or by post. Borrowers should remember that rates are representative and dependent on their credit history.
The extension of the balance transfer term on this card is likely to attract the interest of borrowers who are keen to clear their outstanding credit card balances. The fact that the fee charged on balance transfers is also one of the lowest available in this sector is also appealing, ensuring this card's continued place in the charts. However, borrowers must remember to clear their balance before the introductory offers end in order to benefit most from the interest-free deals.
Moneyfacts rating: Excellent
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