Barclaycard has today re-launched its market beating 24 month 0% balance transfer offer to provide greater flexibility to those assessing their finances in time for the New Year. The Barclaycard Platinum deal, which is available from today, offers new customers the chance to pay no interest on transferred balances for 24 months.
It is only the second time that this deal has been offered and is significantly longer than the interest-free period currently offered on other cards.
In addition to the two years 0% interest on balance transfers, the Barclaycard Platinum card comes with three months 0% interest on purchases and a typical APR of 17.9%, variable. Those transferring balances will incur a 3.2% handling fee.
The deal means that a new Barclaycard Platinum customer transferring £3,000 from a competitor’s credit card, with an APR of 18.9%, will save £935 in interest payments over the 24 month period.
Dave Chan, CEO of Barclaycard Customer Europe said:
“We know that Christmas is an expensive time of year for our customers – that’s why we’re launching a product that makes it easier to pay off your Christmas spending, without being charged interest for two years.”
When the 24 month 0% balance transfer was first run this summer, tens of thousands of customers successfully applied for the offer, with one application being received every minute. Those customers who successfully applied transferred £127m to their new Barclaycard Platinum cards.
Those applying directly through Barclaycard.co.uk will also be entered into a special prize draw for tickets to a major international sporting event taking place in London next summer, with three lucky winners selected every day.
Click here for full details of cards and to apply online.
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 2012;
- number of customers: 23.5m
- number of retailer/merchant relationships: 87,000
Barclays.com