Barclaycard Platinum Simplicity Credit Card

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  • Cash Advance Fee:
  • Cash Advance Rate:
  • Late Payment Fee:
  • Representative APR:
  • Standard Balance Transfer Rate:
  • Standard Purchase Rate:
  • 2.5%
  • 15.8% p.a.
  • £12
  • 7.9% p.a. variable
  • 7.9% p.a.
  • 7.9% p.a.

Pros

  • 7.9% p.a. on purchases and 7.9% p.a. on balance transfers

  • No fee for balance transfers

  • Access to the Barclaycard Freedom rewards program

  • Complimentary travel insurance

  • No annual fee

Cons

  • No interest-free introductory offers

  • No purchase protection

  • No travel accident coverage

Best Features of the Barclaycard Platinum Simplicity Credit Card

  • 7.9% interest on all purchases
  • 7.9% interest on balance transfers with no handling fee
  • Access to Barclaycard Freedom rewards
  • Complimentary travel insurance for you & up to 5 friends or family members
  • Read the terms and conditions

Our Review

Barclaycard’s Platinum Simplicity is a credit card which really lives up to its name. You pay just 7.9% p.a. interest on purchases and the same 7.9% p.a. on balance transfers. There aren’t even any fees for transferring your balance over to the Barclaycard Platinum Simplicity card – something of a rarity in the UK. For a no annual fee credit card, you are also getting a great choice of automatic rewards which makes benefiting from your purchases delightfully simple. This is a platinum credit card in every sense so you will need good credit history to be eligible.

Who it’s for

The Barclaycard Platinum Simplicity is a stellar choice credit card for anyone who has good credit history and wants to take advantage of great rewards and a fixed low interest rate – all without the hidden print and complicated programs of other credit cards. If you like simplicity, then this card was designed for you.

Eligibility

To be eligible, you will need to meet these requirements: be at least 21 years old; have good credit rating with no history of bankruptcy; have not had a CCJ or IVA for at least 5 years; have a good history of making payments on time; have been a permanent UK resident for at least 3 months; have a regular income of at least £20,000 per annum; and, your total debt (exception for mortgage) should be no more than 10% of your income.

Balance Transfers

The Platinum Simplicity credit card makes balance transfers very simple. While there is no 0% introductory offer, you get an interest rate of just 7.9% p.a. on transfers. There is absolutely no fee for transferring over your debt, which is practically unheard of now!

Purchases

This credit card offers a very competitive purchase rate of just 7.9% p.a., although it lacks a 0% introductory offer. You can avoid paying interest completely with up to 56 interest-free days so long as you pay your bill in full on time. The minimum monthly payment is 2.25%, which is slightly lower than the standard of 2.50%.

As far as fees go, the Platinum Simplicity is on par with the industry standard. You will have to pay £12 for late payments, going over your credit limit, and for returns. For foreign transactions, you will pay 2.75%, which is also on par with the industry standard.

Rewards

Considering that this is a no annual fee credit card, you are getting some fantastic rewards. Firstly, you get instant rewards from thousands of retailers participating in Barclaycard Freedom. The Simplicity card makes it simple to get rewarded because you don’t have to deal with confusing points systems or vouchers. This rewards program lets you earn up to 1% in rewards money when you make purchases at select retailers – including 0.5% at Shell.

With Barclaycard Unwind rewards, you get access to tickets for concerts and other major events. For travel lovers, the Thomas Cook discounts can be a nice perk. Barclaycard Platinum Simplicity cardholders will get a 7% discount on travel services plus have the 2.5% credit card booking fee waived.

Cash Advances

This card has one of the best cash advances rates available at 15.8% p.a. – much below the industry average. You will also have to pay 2.5% of the amount or £2.50, whichever is greater. While this isn’t cheap, it beats what other credit cards offer and is a nice option if you need some emergency cash. Just remember that there is no interest-free period on the cash advances.

Security & Fraud Protection

With the Platinum Simplicity card, security is taken a step further than with other credit cards. You will have a PIN code for making larger transactions, but small transactions can be made with the “OneTouch” contactless payments system. Expect the best security with their fraud guarantee and monitoring.

As a nice bonus, cardholders get complimentary purchase delivery insurance and comprehensive travel insurance for up to 5 friends or family members. You also get assistance abroad and emergency card replacement services.

Conclusion

When it comes to “simplicity” and “platinum”, Barclaycard really delivers with this credit card offer. The low interest rate for purchases and balance transfers means you don’t have to worry about paying off your bill out of fear of accumulating lots of debt. While the rewards program isn’t great, there are still enough perks to make the Barclaycard Platinum Simplicity credit card a great overall choice for your daily purchases.

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