Barclaycard Platinum Purchase Credit Card

Best Features of the Barclaycard Platinum Purchase Credit Card

• 0% on purchases for 14 months
• 0% on balance transfers for 14 months
• Access to the Barclaycard Freedom rewards program
• Complimentary travel insurance
• Read the terms and conditions

Our Review

Barclaycard has a good reputation for delivering platinum quality on their credit cards. With their Platinum Purchase credit card, you have a great opportunity to save on any upcoming large purchases with %(Intro Purchase Rate)s for %(Intro Purchase Duration)s. There are also various other perks to this platinum card like a balance transfer deal and rewards program. While the standard purchase rate isn’t the best, it is a great all-around credit card.

Who it’s for

Barclaycard’s Platinum Purchase card is designed for people who have good credit rating but may have accumulated some manageable debt, yet still need to make purchases.

Eligibility

To be eligible for the Barclaycard Platinum Purchase credit card, you must meet these requirements: be at least 21 years old; have a minimum annual income of £20,000; have a good credit score with no bankruptcy or defaulted payments on your record; have no CCJs or IVAs in the past 5 years; have been a UK resident for at least 3 months prior to application; your debt (excluding your mortgage) should be less than 10% of your total income; and are not already a Barclaycard customer.

Balance Transfers

Even though the Barclaycard Platinum Purchase card is designed more for purchases, it still has a good %(Intro Balance Transfer Rate)s deal for %(Intro Balance Transfer Duration)s on balance transfers. Do keep in mind that you will have to pay a %(Intro Balance Transfer Fee)s handling fee, which is marginally lower than the average handling fee across the market. After the introductory period, the remaining balance reverts to %(Standard Purchase Rate)

Purchases

If you have any big purchases to make in the near future, the Platinum Purchase card can help you avoid debt on them with %(Intro Purchase Rate)s for %(Intro Purchase Duration)s. After that offer ends, you will pay the rate of (Standard Purchase Rate) and can avoid paying interest completely by paying your bills off in full on time. You have up to 56 interest-free days to make payments. The minimum monthly payment is 2.25% or all interest plus fees plus 1%% of the balance (whichever is higher).

As far as fees go, this card is on par with the industry standard. You will have to pay s for going over your stated credit limit, any returns and late payments. For foreign transactions, you will pay 2.75%, which is about average compared to the rest of the industry.

Rewards

The Barclaycard Platinum Purchase credit card gives cardholders some good rewards to cardholders and they do a great job of keeping the program simple. There are no points to keep track of or vouchers to collect and redeem. Instead, you get instant rewards from participating retailers where you can get up to 1%% rewards money at select retailers.

Cardholders also get rewarded with the Barclay Unwind program which gives you access to tickets for major events like concerts. If you fancy taking a holiday, you can get 7%% off Thomas Cook holidays plus have their credit card booking fee waived if they pay with their Barclaycard. Other useful perks include complimentary purchase delivery insurance and comprehensive travel insurance for up to 5 friends or family members travelling with you on a ticket purchased with your card. You also get assistance abroad and emergency card replacement.

Cash Advances

Unless it is an emergency, you should avoid taking a cash advance on any credit card, including this one. It will cost you %(Cash Advance Fee)s of the amount plus %(Cash Advance Rate)s interest. There is no grace period for cash advances.

Security & Fraud Protection

Cardholders have a PIN code to use when purchasing more expensive items, but small transactions can be made with their “OneTouch” contactless technology for a faster experience. Expect the best security with Barclaycard’s fraud guarantee and fraud monitoring.

Conclusion

Considering that this is a purchase card, the long-term interest rate is far from cheap. However, the Barclaycard Platinum Purchase credit card makes up for it with fantastic introductory deals for purchases and balance transfers to boot. And when you take into account the rewards program, it is worth the slightly higher interest rate for all the benefits that this card offers.