Barclaycard, one of the UK’s leading credit card companies, has launched a new market-leading balance transfer offer today (January 3rd) that could provide a way to combat any overspending people have done over Christmas. The length of the interest-free period could potentially allow customers to repay these debts in a less costly manner.
The new offer would give eligible new customers zero per cent interest on balance transfers for up to 30 months from the date the account is opened. A 2.89 per cent handling fee does apply.
Customers who are given the full 30 month balance transfer period and that transfer their balance on the date of application could save up to £1,749 by switching from another credit card provider.
It has also added an extra month to the current 28 month Platinum offer, this means that customers could benefit from zero per cent balance transfers for 29 months from opening a new account. A 2.49 per cent handling fee applies to these transfers.
Barclaycard will continue to offer zero per cent on purchases for six months on both of these products. After this period, the Representative APR will be 18.9 per cent (variable).
For customers with a lower balance to pay down, Barclaycard has launched a new card specifically for them. They will have the opportunity to apply for a 12 month “low fee” balance transfer card that has a handling fee of just 0.79 per cent. This card has a Representative APR of 19.9 per cent (variable).
A new card has also been launched for those looking to benefit from an extended interest free period on purchases and balance transfers. This particular card offers customers zero per cent interest for 14 months on the things they buy and 17 months on balance transfers. This card comes with a handling fee of 2.49 per cent and has a Representative APR of 18.9 per cent (variable).
Barclaycard has an “eligibility checker” available on their website that will tell you if you are likely to be accepted for any of the above cards. It can check your eligibility without leaving a search ‘footprint’ on your credit record meaning your ability to get credit will not be affected at a later date.
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