Credit cards Date:
Barclaycard has reduced the introductory fee paid for balance transfers on its 0% purchase and balance transfer credit card, earning it an 'excellent' rating and cementing its place in the Moneyfacts charts as a result.
Platinum Purchase and Balance Transfer Visa now has an introductory balance transfer fee of just 0.99% after a partial refund, enabling it to shore up its position in the charts.
This card offers borrowers 20 months of interest-free balance transfers and purchases. Balance transfers must be made within 60 days of the account opening in order for the borrower to qualify for the 0% deal.
Once the initial offers come to an end, balance transfers will carry a charge of 18.9% per annum, while purchases will be charged at 18.9% APR.
Borrowers should remember that rates are representative and dependent on their credit rating.
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 CreditExpert to investigate your credit report.
The reduction to the introductory balance transfer fee has honed this card's competitiveness and made it a more cost-effective option for borrowers. Those who are looking to clear their credit card debt over the long term and spread the cost of other purchases are therefore likely to be very interested in this deal.
Moneyfacts rating: Excellent
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