Credit cards Date:
Barclaycard has reduced the introductory balance transfer fee on its 32-month balance transfer credit card by 0.05%, boosting its competitiveness and earning it an 'excellent' rating as a result.
Platinum 32 Month Balance Transfer Visa has a 32-month interest-free term for balance transfers with a new introductory fee of 1.08% after a partial refund. It also offers a six-month interest-free period for purchases.
Balance transfers must be made within 60 days in order to qualify for the interest-free deal. Once the introductory offers expire, balance transfers will attract a rate of 18.9% per annum, while standard purchases will be charged at 18.9% APR.
Borrowers must be at least 21 years old and have a minimum annual income of £20,000. Applications can be made online, by post and by phone. Borrowers should remember that rates are representative and dependent on credit rating.
This deal has been given a welcome boost by this introductory balance transfer fee cut. Borrowers who are looking for a cost-effective way to clear their outstanding credit card debts over the longer term are therefore likely to pay close attention to this deal.
Moneyfacts rating: Excellent
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