Credit cards Date:
Barclaycard has increased the introductory balance transfer fee on its 18-month credit repair card, but despite this, it retains its crown as one of the most outstanding cards in the sector.
The Platinum Balance Transfer 18 Month Visa offers a 0% balance transfer term of 18 months from the date of issue – the longest introductory term available in the credit repair market – and charges a fee of 2.99% (previously 2.90%).
As well as 18 months of interest-free balance transfers, borrowers can also benefit from a 0% purchase term of three months. After the three-month period has come to an end, purchases will be charged at a standard rate of 24.9% APR, one of the most competitive available.
Borrowers must be aged at least 21 in order to apply and will need a minimum income of £20,000. It should be noted that rates are representative and dependent on individual credit ratings.
Despite the slight increase to the balance transfer fee, this card remains the most competitive in the credit repair sector and easily retains its position at the top of the charts. It's an outstanding product that fully deserves the highest Moneyfacts rating.
Moneyfacts rating: Outstanding
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