How To Use The 0 Balance Transfer Card

Spotlight On: Barclaycard's 18-month 0% balance transfer

The deal

Barclaycard is offering a 0 per cent on balance transfers for 18 months to its Platinum credit card.

The good points

It's the longest-ever 0 per cent deal. The company also offers £20 cashback on the handling fee for those transfering £3,000 or more to the card. However, that offer expires on Monday.

The bad points

The handling fee is 2.9 per cent, which means a hefty upfront charge of £87 if you transfer £3,000. Barclaycard announced the deal on Wednesday so those wanting to take advantage of £20 off the handling fee had only five days to do so.

Conclusion

The credit card market seems, surprisingly, to be becoming more competitive with longer 0 per cent deals being offered. Barclaycard's typical charge rate is 16.9 per cent, which is not the most expensive. But switching to a 0 per cent deal means doing your sums. If you don't pay off the balance within the period, you could end up paying more.

0 Balance Transfers Offered by Post Office Credit Card | Daily ...

Competition between cards offering 0 balance transfer is currently being apparent and common in the market. The latest one being the Post Office Credit Card which has the capability of offering 0% balance transfers for the first 12 months (with a 2.98% fee). It also includes 0% commission on purchases overseas and 0% purchases for the first three months. Once introductory phase is over, the APR will then become 16.9%.

Aside from these great deals on the rates that is included in the card, it can also be used to gain points in order to avail of flights to selected destinations in Europe which includes Berlin, Madrid and Paris. Specifically, the cities in these destinations are consist of the following: Amsterdam, Berlin, Brussels, Dublin, Madrid and Paris.

However, you will need to be flexible with dates of travel. This attractive offering is certainly expected to hit the market and be popular among most card holders as they will not only maximize the use of the 0 balance transfer credit card but also take advantage of its freebies.