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Barclaycard goes halves on balance transfer fees

10 Jul 2012 11:48 GMT

New customers taking up Barclaycard’s balance transfer products will receive half the fee back. The time limited offer will help new customers save even more money as they take advantage of market-leading extended periods of 0% interest on transferred balances.

The refund deal is available until midnight on 9th August.

On Barclaycard’s market leading 22 months 0% interest balance transfer product, new customers will save an additional £40.60 if they transfer £2,800, which is the average balance moved onto new cards. Under the deal announced today, the effective balance transfer fee on the card is 1.45% until 9th August.

David Chan, chief executive of Barclaycard Consumer Europe said:

“Our aim is to make our customers lives easier by offering the best products on the market. With today’s announcement, we are offering new customers even greater savings on our balance transfer products, on top of the hundreds of pounds they stand to save in interest.”

Cards included in the campaign are:

  • Barclaycard’s Platinum card, with 22 months 0% interest on balance transfers
  • Barclaycard’s Platinum card, with 21 months 0% interest on balance transfers
  • Barclaycard’s Platinum Purchase card, with 14 months 0% interest on balance transfers and purchases
  • Barclaycard’s Gold card, with 12 months 0% balance transfer
  • Barclaycard’s Classic, with 12 months 0% balance transfer, which is available only on Barclays.co.uk

Click here for full details of the above cards and to apply online.

Notes to Editors:

To take advantage, new customers will have to pay the transfer fee in full, with Barclaycard refunding customers by crediting their new card.

Barclaycard Platinum 22 months 0% on balance transfer

Those looking to manage their balances can now receive half of the transfer fee on the Barclaycard Platinum card back, which means an effective transfer fee of just 1.45% (ordinarily 2.9%), saving new customers and extra £40.60 if they transfer £2,800. New Barclaycard customers can enjoy 22 months 0% interest on balance transfers, the longest interest free period in the market. The card comes with a variable APR of 17.9% and new cardholders will all benefit from 0% on the first three months of purchases.

Barclaycard Platinum 21 months 0% interest on balance transfers

New customers eager to benefit from a long term balance transfer with the best fee will be pleased to receive a further reduced rate on Barclaycard Platinum card’s 21 months 0% interest balance transfer deal. The effective 1.3% fee (ordinarily 2.9% reduced to 2.6%) will mean a customer transferring £2,800 will save an extra £36.40. The card, which has a variable APR of 17.9%, also comes with three months 0% interest on new purchases.

Barclaycard Platinum Purchase 14/14 card

For those looking for a card that delivers great value on balance transfers and purchases can get the Barclaycard Platinum Purchase 14/14 card, which includes 0% interest on purchases for 14 months as well as on balance transfers. The new effective balance transfer rate will be 1.45% (ordinarily 2.9%) saving new customers £40.60 if they transfer £2,800. The Barclaycard Platinum Purchase card comes with a variable APR of 18.9%.

Barclaycard Gold with 0% interest on balance transfers for 12 months

The Barclaycard Gold Card can come with 12 months 0% interest on balance transfers. Barclaycard will give new customers half the 2.5% fee when they transfer a balance, saving them £35 if they transfer £2,800. The card comes with a variable APR of 19.9%.

Barclaycard Classic with 12 months 0% interest on balance transfers

New Barclaycard Classic customers will get half the 2.5% fee back when they make a balance transfer, as well as enjoying 12 months 0% interest on the money moved to the new card. If a new customer transfers £2,800, they will save an extra £35. The Barclaycard Classic card has a variable APR of 19.9%. This product is only available directly through Barclays.co.uk.


Barclaycard, part of Barclays Retail and Business Banking, is a leading global payment business which helps consumers, retailers and businesses to make and accept payments flexibly, and to access short-term credit when needed.

The company is one of the pioneers of new forms of payments and is at the forefront of developing viable contactless and mobile payment schemes for today and cutting edge forms of payment for the future.  It also issues credit and charge cards to corporate customers and the UK Government.  Barclaycard partners with a wide range of organisations across the globe to offer their customers or members payment options and credit.

In addition to the UK, Barclaycard operates in the United States, Europe and Africa.

Key facts published in February 2013;

 

-          total number of Barclaycard customers: 28.8m

-          number of retailer/merchant relationships: 89,000

-          Total payments processed: £240bn