Barclaycard extends balance transfer fee refund offer
Filed under: Credit Cards
Barclaycard has extended its offer for new customers to enjoy a 50% refund on balance transfer fees.
How the deal works
When moving existing credit card debt onto a new balance transfer card, you have to pay a transfer fee. This is a percentage of the debt you are transferring, and typically is around 3%.
Barclaycard's transfer fees are already some of the more competitive in the credit card market, particularly considering the length of the 0% interest periods on offer. However, they are effectively cut in half if you take out a card before 13th August. You simply have to apply to have half of your fee refunded once the transfer has been made.
Below are the cards included in the offer:
Below I've put together the ten cards offering the longest 0% periods that aren't from Barclaycard, as well as what it will cost you to transfer £5,000.
So as you can see, the two Barclaycards offering 22 months and 21 months of 0% interest respectively blow the rest of the market out of the water. The only card offering a longer period interest free, from HSBC, requires you to also have a current account with HSBC.
To get the best part of two years before you have to pay interest, all for a transfer fee of either 1.3% or 1.45%, is astonishing. Barclaycard is definitely top dog for me on this one.
All-round credit cards
Now, the Barclaycard 14/14 card doesn't make this list, as it is an all-round credit card – offering the same period of 0% interest on purchases AND balance transfers. Here's the best of the rest in this area of the credit card market.
These offers from Barclaycard are genuinely pretty extraordinary, but time is running out to take advantage, despite this extension of the offer. Of course, if your existing debt is on a Barclaycard already, then these deals won't be much use to you. In which case, check out The best alternatives to Barclaycard's balance transfer credit cards.