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Barclaycard offers 15-month 0% balance transfer

New credit card offer is competitive for transfers

Barclaycard logo

Barclaycard has launched a competitive new 0% balance transfer deal.

The new period of 15 months at 0% replaces the previous 12-month deal on the Barclaycard Platinum balance transfer credit card and rockets the card to joint second place in the Which? balance transfer table.

Great for balance transfers, but not for purchases

Martyn Saville, Which? credit card expert expert, commented: ‘This enticing new offer from Barclaycard boosts it up to second place for 0% balance transfers, beaten only by the 16 months currently available from Virgin Money.

‘It’s disappointing to see Barclaycard increasing its balance transfer fee from 2.5% to 2.9%, although this higher rate is now fairly standard across the market for balance transfers. The 15-month 0% deal is, however, very competitive and could be just the ticket for consumers trying to get a grip on their post-Christmas finances.

‘Don’t be tempted to make any new purchases on the card though. Even though it comes with a three-month interest-free deal on new purchases, Barclaycard’s negative order of payments system means that any repayments you make after the first three months will be allocated against your transferred 0% balance, leaving your new purchases to rack up interest at the card’s standard rate of 15.9% until the balance transfer is paid off in full.’

Who are 0% balance transfer deals suitable for?

0% deals on balance transfers are good if you have existing credit card debt and are either likely to pay off the bill within the 0% period or are willing to switch again when the deal runs out. Make sure you make at the least minimum payment though, as missing a payment can lead to the 0% deal being withdrawn, as well as other fees being imposed.

If you’re looking for a longer repayment period or don’t want to switch regularly, a credit card offering a low rate for the life of the balance may be more suitable. Use the free Which? credit card finder to discover the best deals.

Find the best credit card for you

To compare the best credit deals currently available, check out Which? credit card finder. If you’re not sure what sort of credit card is best for you, read the free Which? guide to choosing a credit card.


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