Barclaycard Platinum
The credit card market has been very busy launching new products and changing existing deals.
There are really some great deals, so this is good news for consumers. One good deal is the Barclaycard Platinum.
Barclaycard Platinum isn’t a new product but the interest-free period on balance transfers has been lengthened. New customers will qualify for a 15-month interest-free period on balance transfers, just one month less than Virgin’s market-leading offer. Previously the 0% balance transfer period on the Barclaycard Platinum ended on February 1 2011.
There is also a three-month, interest-free period on purchases.
Once the 0% offers end customers will be charged a standard annual percentage rate of 15.9%. The APR for cash withdrawals is higher at 27.9% and there is a 2.5% withdrawal fee.
Even though the length of the 0% period on balance transfers is an improvement on Barclaycard’s previous offering, it’s not all good news as it has tweaked other features of the Platinum deal and made them slightly less attractive.
The fee for transferring a balance on to the card has gone up from 2.5% to 2.9%, which will cost you an extra £8 on a £2,000 transfer.