Barclaycard News Update: New Balance Transfer Card
Barclaycard News Update
Barclaycard News Update: New Barclaycard that allows new customers to transfer their current card debts and not pay interest for twenty eight months.
Barclaycard now hold the longest balance deal of twenty eight months out of all their other major competitors. Recently, a selection of the major UK banks were all at par with their balance transfer card deals. However, it seems that being equal at the top was not good enough for Barclaycard, resulting in the recent launch of their Platinum Balance Transfer Card. However, although the time limit for not paying interest is longer than other banks, after the twenty-eight months the interest rate is much higher than their rivals’.
The balance transfer market is extremely competitive, shown by Barclaycard’s defiant move. The company are known to keep extending their no interest limits is order to keep ahead of their competitors and offer the best deals to consumers. This current deal is a great way for people to pay off their debts in just over a two year time frame and no added interest will have to be paid. However, not everyone is excepted onto the scheme, only approximately half of successful applicants. This means if a successful applicant has a bad credit rating their interest rate may be less than one year, quite the opposite to what they are advertising.
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Although good for consumers, Barclaycard’s move is not a positive for their competitors as they have been pushed back down the table for best balance transfer deals. However, this appears to be Barclaycards strategy as every time another rival improves one of their deals or offers, the company instantly goes one step further and offers the better deal to the consumer, whether it be a lower interest rate or a longer zero percent interest rate time frame.
Money experts are therefore excited and interested to see which company will make the next move and step up to Barclaycard’s unique offer. The company are yet to be not at the top of the list for best banking offers for a significant amount of time. If the market does seem to increase in competitiveness, this is only a positive for consumers who will be constantly inundated with better and better deals.
If you would like to know more information on the new Barclaycard or their other account options and services, you can ring the Barclaycard Contact Number where you can talk to the customer services department. Alternatively, you can visit their official website.
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