Barclaycard cuts fees for limited time.
Barclaycard has cut the transfer fees on its 33-month and 32-month 0% Platinum balance transfer credit cards for a limited period.
The Platinum 33 Month Balance Transfer Visa card fee has been reduced from 2.99% to 2.79%, while the 32-Month Platinum now carries a fee of 2.69%, down from 2.89%. You actually pay a transfer fee of 3.5% at the outset, but you get a portion refunded later on.
Everything else is still the same, including 0% interest on purchases for the first six months.
How it compares
Barclays is ever-determined to keep its place at the top of the 0% balance transfer credit cards best buy tables. Here’s how it shapes up compared to the other longest 0% deals out there.
|
Credit Card |
0% period on balance transfers |
Balance transfer fee |
Cost of transferring £2,000 balance |
Representative APR |
|
33 months |
2.79% |
£55.80 |
18.9% |
|
|
32 months |
2.69% |
£53.80 |
18.9% |
|
| Tesco Clubcard Balance Transfer Credit Card | 32 months | 2.9% | £58 | 18.9% |
|
32 months |
3% |
£60 |
18.9% |
|
|
Bank of Scotland Platinum 32-Month Balance Transfer Credit Card |
32 months |
3.5% |
£70 |
18.9% |
|
32 months |
3.5% |
£70 |
18.94% |
|
| MBNA 31-Month Platinum Credit Card | 31 months | 2.88% | £57.60 | 18.9% |
|
31 months |
2.89% |
£57.80 |
18.9% |
|
|
30 months |
2.5% |
£50 |
18.9%
|
So only the Halifax 30-month card comes with a lower transfer fee, and you'll have to sacrifice at least two months of 0% interest to take advantage.
However, if you have a smaller debt that won't take quite so long to clear, you could save by going for one of the credit cards that focus on offering the smallest possible transfer fee, albeit with much smaller 0% periods. For example both the Sainsbury's Nectar Low-Fee Card and the Fluid Low Fee Card offer a year of 0% interest, but you only have to pay a transfer fee of just 0.5%. And Barclaycard has a card that offers six months of 0% interest, with no fee to pay at all, though you only have until the 7th August to take advantage.
For more, read the best low-fee balance transfer credit cards.
Compare more 0% balance transfer credit cards with lovemoney