Barclaycard offers longest ever balance transfer deal

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Barclaycard offers longest ever balance transfer deal

Tue 19th Jul 2011

Barclaycard has launched a new credit card offering a zero per cent interest rate on balance transfers for 24 months, presenting a great device for overall credit card debt consolidation.

The new card extends the company's old Platinum service by four months and lowers the fee on transfers from 3.2 to 2.8 per cent. The card comes as a flurry of new products enter the credit market, which has seen increased growth in the past year.

"If you're paying interest on existing credit card debt, this new card offers a great way to cut your interest repayments and therefore pay off your debt much quicker," said Bobby Nicholls, credit card expert at consumer watchdog Which?

Dave Chan, chief executive of Barclaycard Customer Europe, commented: "Our aim is to make the lives of our customers much easier by providing outstanding market leading products and services".

According to the firm, over 11 million people in the UK already prefer Barclaycard as their credit system of choice. Industry insiders view the extended rates as highlighting increased competition between credit providers wanting to provide options to tackle customer debt levels.

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