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Barclaycard offering £30 discount on balance transfer fees

John Fitzsimons
by Lovemoney Staff John Fitzsimons on 15 November 2012  |  Comments 1 comment

The top balance transfer cards just got even better, with Barclaycard offering a £30 discount on balance transfer fees.

Barclaycard offering £30 discount on balance transfer fees

Barclaycard has introduced a £30 discount on balance transfer fees on two its best credit cards.

The discount is on offer on all balance transfers of £2,000 or more on the 23-Month Platinum Visa and the 22-Month Platinum Visa.

The cards are already two of the best in the market, as they offer some of the longest interest-free periods around. That’s a big selling point, as it gives you longer in which to clear your debt before you have to start paying interest on it.

Charging a smaller fee for transferring the balance on to the cards make them even more attractive.

Below are the ten cards offering the longest 0% periods on balance transfers, and the size of the fee you’ll need to pay to transfer over a variety of different debts

Card

0% period

Balance transfer fee

Fee paid on £2,000 transfer

Fee paid on £5,000 transfer

Fee paid on £7,500 transfer

Barclaycard 24-Month Platinum Visa

24 months

2.8% minus £30 discount

£24

£110

£180

NatWest Platinum

23 months

3.5%

£70

£175

£262.50

RBS Platinum

23 months

3.5%

£70

£175

£262.50

Barclaycard 22-Month Platinum Visa

22 months

2.6% minus £30 discount

£22

£100

£165

Halifax 22-Month MasterCard

22 months

3%

£60

£150

£225

NatWest Platinum MasterCard

22 months

3.2%

£64

£160

£240

RBS Platinum MasterCard

22 months

3.2%

£64

£160

£240

Tesco Clubcard Credit Card for Balance Transfers

22 months

2.9%

£58

£145

£217.50

Lloyds TSB Platinum MasterCard

21 months

3%

£60

£150

£225

Nationwide Select

20 months

3.1%

£62

£155

£232.50

So not only do the two Barclaycard credit cards offer the longest interest-free periods, but they also charge the smallest balance transfer fees. That’s a pretty compelling proposition.

Who they won’t be an option for?

That said, they won’t be an option for everybody. First off, it should almost go without saying that in order to get these market-leading cards you’ll need to have a great credit record. You can check how good yours in with a free trial with Experian via lovemoney.com. It’s also worth having a read of How to build an excellent credit history.

Secondly, these cards won’t be much use if the debt you want to transfer is already on a Barclaycard, as you can’t transfer debt between cards from the same provider. If that’s you, you’ll need to consider one of the other cards in the table above.

Paying an even smaller balance transfer fee

Despite these discounts, it’s possible to pay an even smaller balance transfer fee, though you’ll have to sacrifice a large slice of that interest-free period.

Indeed, the smallest balance transfer fee around – and you won't be surprised to hear it’s once again on offer from a Barclaycard credit card – charges a fee of just 0.9% of the balance transferred.

Here are the five cards offering a 0% period on balance transfers that charge the lowest balance transfer fees.

Card

0% period

Balance transfer fee

Fee paid on £2,000 transfer

Fee paid on £5,000 transfer

Fee paid on £7,500 transfer

Barclaycard Platinum Lowest Ever Balance Transfer Visa

12 months

0.9%

£18

£45

£67.50

NatWest Platinum Low Balance Transfer Fee

13 months

1%

£20

£50

£75

RBS Platinum Low Balance Transfer Fee

13 months

1%

£20

£50

£75

Fluid Card

15 months

1.5%

£30

£75

£112.50

Barclaycard Platinum Low Fee Balance Transfer Visa

16 months

1.5%

£30

£75

£112.50

For more check out The best low-fee balance transfer credit cards.

Have you used a balance transfer fee lately? What card did you go for? Did you manage to clear the debt before the interest-free period finished? Let us know your thoughts in the comment box below.

More on credit cards:

John Lewis is your favourite credit card

Capital One: the best cashback credit card around

The best reward credit cards

The best 0% balance transfer credit cards

The best cashback credit cards

The best 0% credit cards

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Comments (1)

  • bonesytrev
    Love rating 0
    bonesytrev said

    the 0% balance transfer with a 30 pounds discount sounds great until you try to apply on line its totally unavailable and if you try through barclaycard itself all you are offered is a hefty 3.2% fee, so all this is a load of nonsense and should not be advertised at all!

    Report on 16 November 2012  |  Love thisLove  0 loves

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