Barclaycard launches top 0% credit card for debt shifting AND spending

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Barclaycard launches top 0% credit card for debt shifting AND spending



BARCLAYCARD has upped the interest-free period on its Platinum credit card to 28 months on both balance transfers and spending, pushing it to the top of best buy tables.
The card is joint market-leading with Sainsbury’s Bank, which also offers an interest-free period of 28 months on both debt shifting and purchases.
Barclaycard has just launched a new credit card
The Barclaycard Platinum card, which previously offered 0 per cent interest for 27 months, comes with no annual fee, but you’ll have to pay a 2.7 per cent fee if you want to transfer debt.
This compares to a 3 per cent fee at a minimum of £3 for Sainsbury’s Dual Offer Credit Card, but this lets you earn an extra 7,500 Nectar points worth £37.50.
Just keep in mind that Barclaycard only offers 0 per cent interest on balance transfers made within 60 days of opening the account.
After 28 months, the Barclaycard credit card increases to a typical annual percentage rate (APR) of 19.9 per cent, while the Sainsbury’s option rises to 20.9 per cent.
Balance transfer cards: what you need to knowSHIFTING your balance can be a great way to cut the cost of your debt. But you must use them properly so you don’t just add to it.Always clear your debt – Credit card firms don’t offer these deals out of the goodness of their hearts. They rely on you not clearing your balance by the time the 0 per cent deal comes to an end so it can start charging you interest.
Always make your payments – If you don’t keep up with your monthly payments, you could lose the 0 per cent offer and start being charged interest. Always try and pay-off more than the minimum payment too to clear your debt quicker and don’t spend on the card either.
Check your deal – Like with all credit cards, you might not be offered the headline deal if you don’t have the best credit history. Use MoneySavingExpert’s eligibility calculator to see what deals you are likely to be accepted for.

This means it’s important that you clear the debt in full before the interest free period ends.
If you’re unable to pay it all off on time, you could shift it to another 0 per cent balance transfer card beforehand – you can find the best cards of this kind here.
You also need to make sure you don’t miss any payments or go over your credit limit, as you’ll be hit with interest and late payment charges.
The offer from Barclaycard is only available to new customers above the age of 21 who earn at least £20,000 per year.
But be warned – only those with the very best credit ratings will be offered the marketed deal – so even if you apply and are accepted, you could be offered a smaller 0 per cent period instead and be charged a bigger transfer fee.
Rachel Springall, finance expert of comparison site Moneyfacts, told The Sun: “The dual interest-free offer from Barclaycard is highly competitive and sits as the joint-top deal next to Sainsbury’s Bank.
“In addition, customers can gain access to the Barclaycard Entertainment incentive, which includes early access to pre-sale tickets, cashback for ticketed events and other perks such as savings on food and drinks at gigs and festivals.
“The interest-free purchase deal may be joint-best at 28 months, but the card does charge a lower revert APR of 19.9 per cent on purchases than Sainsbury’s Bank, which charges 20.9 per cent.
“But the Sainsbury’s Bank offer gives shoppers access to a reward scheme were they can accumulate Nectar points when they shop – which may be more suitable for some shoppers than an entertainment incentive.”
How to cut the cost of your debtBEING in large amounts of credit card debt can be really worrying. Here are some tips from Citizens Advice on how you can take action.
Check your bank balance on a regular basis – knowing your spending patterns is the first step to managing your money
Work out your budget – by writing down your income and taking away your essential bills such as food and transport.If you have money left over, plan in advance what else you’ll spend or save. If you don’t, look at ways to cut your costs
Pay off more than the minimum – If you’ve got credit card debts aim to pay off more than the minimum amount on your credit card each month to bring down your bill quicker
Pay your most expensive credit card sooner – If you have more than one credit card and can’t to pay them off in full each month, prioritise the most expensive card (the one with the highest interest rate)
Prioritise your debts – If you’ve got several debts and you can’t afford to pay them all it’s important to prioritise them.
Your rent, mortgage, council tax and energy bills should be paid first because the consequences can be more serious if you don’t pay
Get advice – If you’re struggling to pay your debts month after month it’s important you get advice as soon as possible, before they build up even further.
Groups like Citizens Advice and National Debtline can help you prioritise and negotiate with your creditors to offer you more affordable repayment plans

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If you’re considering applying for a personal loan or balance transfer credit card, here’s the best option for you.
You can also save £300 off your store card balance by transferring the debt to a 0 per cent credit card.
Looking to make a big purchase this year? Here are the best 0 per cent interest-free credit cards for spending and purchases.
Martin Lewis’ warn​s ​to shift debt now before top ​zero percent credit ​cards are pulled

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