Barclaycard balance transfer fees lowered

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Barclaycard balance transfer fees lowered

Barclaycard is offering its customers the chance to move their debts onto their credit cards while paying 0.5 per cent less for balance transfer fees.

The credit card provider has announced that its fees have been reduced from three per cent of the amount transferred to 2.5 per cent.

Customers can therefore potentially save around £25 on a £5,000 balance transfer to Barclaycard Platinum - something which they may welcome amid the recession.

Managing director of Barclaycard UK Amer Saied commented: "This reduction will mean customers looking to move their balance now have to pay less to get a market leading deal."

Last week, Barclays offered its customers more good news as it announced that it is introducing a new fixed-rate three-year savings bond.

Andy Gray, head of mortgages at Barclays, said that the savings bond is ideal for those looking for a good rate without committing over a long period.

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