The competition for best buy transfer introductory periods for credit cards is hotting up, thanks to Barvlaycard’s new offer for their Platinum credit card.
Chris Griffiths, credit card manager at Confused.com said: “By increasing the balance transfer introductory period to 0% for 16 months Barclaycards Platinum moves to joint top of the best buy charts, pulling alongside the Platinum offering from NatWest and RBS. Both cards offer a typical APR of 16.9% and have a balance transfer handling fee of 2.9% so they really are neck and neck.”
“It’s great for consumers to see providers competing on long term Balance Transfer rates like this, as Barclays move to a longer 0% deal will benefit a wider range of consumers looking to move a balance. By using the Barclays Platinum balance transfer offer customers who are paying interest on their balances with other providers, or those whose introductory rates are coming to an end, could now enjoy the whole of 2011 without having to worry about paying interest on any existing card borrowing.”
“Customers who do take up this offer should remember they have to protect their 0% period by staying within their credit limit and ensuring at least the minimum required payment is paid off each month.”