Credit cards Date:
Barclaycard has launched a new interest-free balance transfer credit card, securing it a coveted place in the Moneyfacts charts and the top accolade thanks to its highly competitive rate and terms.
Platinum 36 Month Balance Transfer Visa offers 0% interest on balance transfers for 36 months, placing it securely in the charts. Purchases are also interest-free for six months.
To qualify for the interest-free balance transfer offer, borrowers must transfer their balances within 60 days of opening an account. Transfers will attract an introductory fee of 2.39%, after a partial refund.
Once the initial offers expire, balance transfers will be charged at 18.9% per annum with a fee of 3.5%, while standard purchases will carry a rate of 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 phone and by post. Borrowers should remember that rates are representative and dependent on their credit rating.
Borrowers looking for a lengthy term in which to clear their credit card balances are likely to be pleased by this new addition to the market. This card boasts a highly competitive interest-free term for balance transfers, and as an added bonus, it also offers a 0% term for purchases, which can help spread the cost of a big spend. This is an outstanding product that fully 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 Any products featured may be withdrawn by their provider or changed at any time.
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