Barclaycard Platinum Extended Balance Transfer Credit Card
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Best Features of the Barclaycard Platinum Extended Balance Transfer Credit Card
- 0% balance transfers for 22 months
- 0% purchases for 3 months
- Barclaycard Freedom, Barclaycard Unwind & Thomas Cook discounts
- Read the terms and conditions
Our Review
Barclaycard is setting the standard for balance transfer deals with their Platinum Extended Balance Transfer credit card. You are going to be hard pressed to find a deal as good as this one: %(Intro Balance Transfer Rate)s balance transfers for %(Intro Balance Transfer Duration)s. To sweeten the deal even more, Barclaycard’s Platinum Extended Balance Transfer card also gives you %(Intro Purchase Rate)s purchase for %(Intro Purchase Duration)s and a slew of rewards. This is a platinum level card so you should have a good credit score and a regular income to apply.
Who it’s for
If you have accumulated debts on one or more credit cards and are fed up paying a high level of interest and want to get out of debt, but still have a good credit history, then the Barclaycard Platinum Extended Balance Transfer card is for you! With its low interest rates, this card can really help you save a lot of money on interest and speed you on the way to a debt-free life.
Eligibility
Prospective applicants should: be 21 years old or older; have a minimum annual income of £20,000 that can be proven; have a good to excellent credit history with no bankruptcy or defaulted payments and no record of IVAs or CCJs for the last 5 years; resident in the UK for at least 3 months prior to applying; have less than 10% of your income in outstanding debts (excluding a mortgage); and, must not already have a Barclaycard.
Balance Transfers
It doesn’t get much better than the Platinum Extended Balance card when it comes to balance transfer deals! You get %(Intro Balance Transfer Rate)s on balance transfers for an impressive %(Intro Balance Transfer Duration)s. Only a couple other banks have stepped up to compete with this deal. After the intro period is up, any remaining balance will revert to the standard purchase rate of %(Standard Purchase Rate)s
The normal balance transfer fee is s, which is slightly higher than the industry average. Keep in mind that all balances must be transferred within 60 days of opening your account to take advantage of the deal. Your balance transfer cannot be more than 90% of your credit limit.
Purchases
Even though this card is optimised for balance transfers, it still has a good deal for purchases too with %(Intro Purchase Rate)s on purchases for %(Intro Purchase Duration)s. After that, all purchases get charged at the standard purchase rate of %(Standard Purchase Rate)s (variable).
If you are using this card for balance transfers, you probably won’t want to use it for purchases until your balance is paid off. This is especially true because you won’t get the interest-free grace period of up to 56 days so long as you still have a balance outstanding.
As for other aspects of the purchases with this Barclaycard card, they are on par with most other cards. Foreign purchases come with a 2.75%% transaction fee and you’ll be charged s for any late payments, going over limit, or for returns. The minimum monthly payment is 2.25% or all interest due plus fees plus 1%% of the balance (whichever is higher).
Rewards
While the Platinum Extended Balance Transfer card is mostly designed for balance transfers, it does come with a few extras including Barclaycard Freedom rewards. The Barclaycard Freedom rewards program will give you rewards of up to 1%% of your purchase amount at participating retailers.
Cardholders also get access to the Barclaycard Unwind program which gives you access to tickets for major events like sporting events, concerts and theatre shows. There is also a discount for Thomas Cook holidays. Other benefits include complimentary purchase delivery insurance and comprehensive travel insurance for up to 5 friends or family members travelling on a ticket purchased with your Barclaycard via the Barclaycard Travel Service. Cardholders also get assistance abroad and emergency card replacement services.
Cash Advances
Cash advances with Barclaycard’s Platinum Extended Balance Transfer card are going to cost you – just like it will with any other credit card currently available on the market. There is a %(Cash Advance Rate)s interest rate with no grace period. You will also have to pay a %(Cash Advance Fee)s fee or £2.5, whichever is greater.
Security & Fraud Protection
You can expect the best security with Barclaycard’s fraud guarantee and fraud monitoring. It also has Visa’s payWave contactless payment technology for faster payments as well as Visa 3D Secure, for additional security.
Conclusion
You’ll struggle to find a better deal for balance transfers than this Barclaycard card. While there are some cards that have balance transfers that are as long, they don’t have the other perks that Barclaycard offers like Barclaycard Freedom. If you have outstanding debts, then the Barclaycard Platinum Extended Balance Transfer credit card can help you save money and get out of debt faster – essentially, that’s what this card is all about.
