Barclaycard Offers 0% APR for 34 Months On Balance Transfers in UK
There are some very good balance transfer offers on credit cards here in the United States. But nothing compared to what is going on in the United Kingdom.
Barclaycard has now introduced a card with a 0% APR for 34 months on balance transfers. This offer is only available in the UK, and it is the longest-lasting balance transfer offer the country has ever seen.
Balance transfer offers are quite competitive in the United Kingdom. Tesco Bank and Sainsbury’s Bank already have 0% APR offers on balance transfer for 33 months. Barclaycard has one-upped their competitors, and this may result in a new group of customers making the switch to Barclaycard.
There is usually a balance transfer fee of around 3%, which means that you have to pay 3% extra on any debt you bring over from another card provider. On the Barclaycard, it is 3.5%, but it is reduced to 2.99% with a refund after the transfer has been completed.
By offering 0% balance transfer for nearly three years, Barclaycard is giving consumers ample time to pay off their old debts. In addition, this card offers 0% APR on purchases for six months.
With any balance transfer situation, consumers need to carefully read the terms and conditions of the card agreement to be aware of all possible fees. Do everything you can to pay off your complete balance before the 0% intro period runs out. And never make a late payment or your introductory period will likely cease immediately and you’ll be paying the ongoing APR on the remaining balance.