Barclaycard reduces balance transfer fee

Barclaycard has announced that it is reducing the balance transfer fee on its 0% for 12 months Barclaycard Platinum balance transfer deal from 3% to 2.5% of the amount transferred. According to Barclaycard, the reduction means customers will save £25 on a £5,000 balance transfer to Barclaycard Platinum.

The reduction in balance transfer fee comes after Barclaycard reduced the APR on its Barclaycard Platinum card from 14.9% to 12.4% in February. This means that at the end of the 0% promotional transfer period, the rate on the card will revert to 12.4%.

The Barclaycard Platinum also offers an identity protection service, purchase delivery protection to insure against loss or damage to goods delivered from UK suppliers online, and worldwide emergency assistance to help cardholders when travelling abroad.

Commenting on the reduction, Amer Sajed, Managing Director of Barclaycard UK said:

“This reduction will mean customers looking to move their balance now have to pay less to get a market leading deal”.

If you are looking to transfer the balance of your credit card, it’s wise to weigh up all of your options before making a decision. TotallyMoney.com has access to a great range of credit card offers that could save you money.

Right now, the Virgin Money card offers 0% on balance transfers for 16 months and 0% on purchases for 3 months. Although the Virgin Money card has a slightly higher 2.98% transfer fee and reverts to a rate of 16.6% after the interest free period, the lengthy interest-free period could mean that paying off your debt would be cheaper with Virgin.

Just visit http://www.totallymoney.com/credit-cards/ now to compare offers from top UK providers. When you find the right card for you, just click Apply to be taken through the application process.