BarclaycardBarclaycard has dealt another blow to rivals in the balance transfer market by extending its 27-month 0% card by one month.

The new 28-month card is the longest ever 0% balance transfer card on offer. It has a fee of 3.5% on any loan transferred over.


Barclaycard has also ramped up the offering on its 26-month card - extending it by one month to 27 months. This card has a 2.99% fee and both changes secure the provider's place firmly at the top of the tables.

Barclaycard 0% deals
The two new Barclaycard deals are very attractive for borrowers who need a long time to pay off their debt. During the 0% period, borrowers won't have to pay any interest and can instead focus on paying off their debts.

What's more, both of these cards also offer 0% new purchase deals that will last for six months.
That said, Barclaycard's move isn't terribly surprising. Every time a rival provider improves its 0% offer, Barclaycard has reacted with a counter-offer that has almost always put it straight back at the top of the market.

It is now the only provider offering a 28-month balance transfer card. RBS, NatWest and Tesco all have 27-month cards but these cards all have higher fees.

Our comparison tables give a fuller view of the market but here I've listed the five balance transfer cards with the longest 0% periods:

Card

0% period

Balance transfer fee

Fee paid on £2,000 transfer

Representative APR after 0% period ends

Barclaycard 28-Month Platinum Visa

28 months

3.50%

£70

18.9%

Barclaycard 27-Month Platinum Visa

27 months

2.99%

£59.80

18.9%

NatWest Platinum MasterCard

27 months

3.10%

£62

18.9%

RBS Platinum MasterCard

27 months

3.10%

£62

18.9%

Tesco Clubcard Credit Card for Balance Transfers

27 months

3.15%

£63

16.9%


Bear in mind that Barclaycard will only take on new customers. And the provider is also notorious for only accepting borrowers with an excellent credit score.

Compare the 0% balance transfer credit cards with the longest interest-free periods

Cards with lower fees
It's also worth bearing in mind that a 28-month 0% card isn't right for everyone. That's because you can pay much lower fees if you take out a card with a significantly shorter interest-free period.
Tesco, for example, only charges a 0.9% fee on its Tesco Clubcard Credit Card with Low Balance Transfer Fee. So, on a £2000 debt, you'd only have to pay an £18 fee.

Halifax and Lloyds TSB also offer low-fee cards at 1% which have 15 and 13-month 0% periods respectively.

So if you think you'll be able to pay off your credit card debt within a year, it makes much more sense to go for a low-fee card.

Compare the top balance transfer cards with low fees

How to use a balance transfer card
Balance transfer cards can be an excellent way of managing your debts and paying them off at a faster rate.

But they are only effective if used properly. That means you must make your minimum payment on time every month. If you don't do this, your 0% deal could be withdrawn, and you could also get a black mark on your credit score.

During the 0% period, it's also essential that you work to clear the debt on the card. High interest payments will kick in again if you haven't paid off all your debt during the 0% period, and you should be trying to avoid any further interest payments on your credit card debt.

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