A great new balance transfer card

Banking and Borrowing

Updated on 20 April 2011 | 0 Comments

John Fitzsimons reviews a terrific new credit card to rival Virgin

Hi I'm John Fitzsimons, and on today's Get the Best Deal I'm going to be looking at a top new interest-free credit card.

The BarclayCard Platinum credit card has been revamped recently, so it now offers a quite magnificent 15 months of 0% interest on balance transfers.

A great alternative to Virgin

This doesn't quite make it the market leader. Virgin have topped the best buy tables for an age now with their card offering 16 months free of interest  on balance transfers. However, there is a small sting in the tail with the Virgin deal - as their card is run by MBNA, you can't transfer your debt from another MBNA-run card to the Virgin card.

There are no such problems with this new Barclaycard deal. In fact not only is this a great card for people who don't fancy the Virgin card, it's also the best option if you already have the Virgin card and are coming to the end of your 0% interest period, but still have a chunk of debt to pay off!

You will pay a transfer fee

Of course if you do transfer debt over to the Barclaycard Platinum, remember that you will be hit with a 2.9% transfer fee, though in fairness that's still lower than most of the other top balance transfer cards in the market.

It's not alone

It's worth remembering that the Barclaycard Platinum is not the only card that will offer you 15 months of 0% interest. There's also  the Santander Credit Card, which has the same deal but with a slightly higher fee of 3%.You can get the same 15 month interest-free deal from both the Natwest and RBS Platinum cards. However, these cards are available to existing customers only.

Overall, I absolutely love the Barclaycard Platinum card. It offers a great alternative to the Virgin Money card, and should be top of your wishlist if you are about to transfer money from an MBNA card.

That's it for me for today, thanks for watching lovemoney.com

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