Show Balance Transfer Credit Card Competition heats up as Barclaycard release best deal on the marketThe winter months of the year are typically marked with cold weather, dark days, and a festive hangover that almost always takes a few months to get over. However, these are usually the least of peopleís worries; with the most pressing issue most have to face being tackling the debt they have accumulated from Christmas overspending. However, the news that the 0% balance transfer card market is heating up to a historic high point will likely be welcome news to the ears of those who are currently struggling to deal with the ramifications of festive spending, and will likely give them the chance to retake control of their financial situation by shifting their debt to a securer, interest free card. For those of you who are unfamiliar with 0% balance transfer cards, they are simply special credit cards that allow people who have growing liabilities to shift their value to one 0% card, where they can enjoy paying back their debt without having to worry about the total costs rising too fast. The typical catch is that the card provider will take a handling fee for processing the transfer of your debt from your old providers to the new card, but nevertheless represent a great mechanism for debtors to access if they wish to obtain time to improve their financial standing. This is because once the typical 2.6% fee is paid for transferring the money; you can pay just the minimum amount for as long as the 0% offer is applicable on the card, which gives you ample time to improve your finances so that you are better placed for full repayment. The biggest shortfall of these cards are however that applicants are required to have an exemplary credit rating in order to acquire one, which means that for many people, they will simply be unable to get access to one at this time. However, if you feel that you have a solid credit rating, and are currently experiencing what you perceive to be short term financial difficulties, then below is a guide to the top offerings on the market that are well worth looking in order to give you time to improve your financial situation. Cards to Consider Barclaycard Platinum Extended Balance Transfer Card Furthermore, Barclaycard have promised to give a 0.51% refund to anyone who makes a transfer to their new account within 60 days of its opening, meaning that most will enjoy a highly competitive 2.99% rate on a 31 month deal. Moreover, the card enables users to make purchases without interest charges for the first 6 months, though it should always be remembered that these cards are best suited for consolidation purposes, rather than for credit card spending. The biggest shortfall of the card is that after the initial interest deal comes to an end, users are moved to an 18.9% rate, so when this happens, you should immediately start looking for a new offer to shift your debt as you will otherwise see your debt soar up in a short space of time. Halifax Balance Transfer Credit Card Though the deal is mildly worst than Barclaycard, it is still very much worth considering if you are someone who desires to acquire a card that has a long 0% period. Tesco Clubcard Credit Card However, spending using balance transfer cards is a counterproductive way of using them, so the Clubcard point offer is relatively hollow in this sense. For balance transfer purposes, Barclays and the Halifax are better options, though Tescoís card is still beneficial if it is solely used for this function. MBNA Fluid Balance Transfer Card If you are someone who believes their financial problems will only span a year, and are simply undergoing a tough time this winter, then this card may be better suited to you than Barclaycard or the Halifax as you will be charged less for transferring your fees, and can always move to a new deal after the 12 month period is over, if it arises that your problems span longer than first thought. Things to remember Moreover, they are only worth retaining whilst their initial 0% offer stands, and when your deal comes to an end, you should either look for a new card or move onto a cheaper credit card. This is because the rate that these move up to after your introductory offer is over is substantially higher than many credit cards, and will result in your outstanding debt soaring up if your situation is left unaddressed. The final key point to remember when using these cards is that it is pivotal that you at least make the required minimum repayment each month, as a failure to do so will likely result in the termination of your introductory rate, and a move to a substantially higher rate than you were enjoying before. This is because you will likely be given the card on the basis of your credit rating, and any missed payments will suggest to your creditor that you are not reliable enough to warrant being given 0% facilities with your debt. Compare Credit Cards with MoneyExpert and earn £25 cashback on one of our featured credit cards. Are Barclaycard doing balance transfers for existing customers?You can request a balance transfer from another credit card or a store card when you apply for a new Barclaycard. If you're an existing customer and registered for Barclaycard online servicing, you'll find details of the balance transfer offers available to you by selecting 'Transfers & offers' in the main menu.
Does Barclay offer balance transfers?If you're paying interest on credit cards or store cards, you could save money with a Barclaycard 0% interest balance transfer credit card. They let you transfer your existing balance from several other credit cards to a single card. So you could save money on the interest you're currently paying.
How do I get a Barclaycard transfer offer?If you're an existing customer, you can apply for any transfer offers by using your Barclaycard app and selecting 'Cards' then 'Transfers and offers', or by logging into your Barclaycard online servicing account and selecting 'View your offers'.
How do I get offers on my Barclaycard?f you're eligible for a purchase offer, you can find this by logging in or registering for Barclaycard online servicing, and then heading to 'Transfers & offers' and 'Purchase offers'. Alternatively, call us on 0800 151 0900.. Call charges may apply.
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