Best for: Longest term on 0% balance transfers

Overspent on your credit cards this Christmas? Make sure your plastic doesn’t punish you with hefty interest charges come New Year by switching NOW to a lengthy zero percent balance transfer card.

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And the good news is, while we were celebrating Christmas, deals like these were getting better! 

Barclaycard’s Platinum Credit Card with Extended Balance Transfer now offers the first 35 months (up from 34 months) interest-free on debt transferred from another provider. This makes it the longest 0% term the market has ever seen.

What’s the deal?

You won’t pay any interest on balances transferred to the card for the first 35 months (that's just a month shy of three years!) although to qualify your debt must be transferred within 60 days.

For a 0% shelter this long, the fee is great too. While you'll initially need to pay 3.5% of the amount you transfer, it will be reduced to 2.49% by way of a refund. 

So if you switch across £3,000, it will ultimately cost you £75.

Bear in mind the amount you transfer must also not exceed 90% of the available credit on your account. 

So, if you’re offered a credit limit of £3,000, you will only be able to transfer a maximum of £2,700.

There’s also an introductory 0% rate on purchases, but this only lasts for six months. 

Once each introductory rate finishes, you’ll be charged a representative annual percentage rate (APR) of 18.9% (variable). In other words, pay off your debt before interest kicks in!

For a 0% shelter this long, the fee is great too at 2.49%


This card is a brilliant choice for anyone who owes money on credit cards and who is looking for the absolute maximum time to clear their balance/s. 

Who’s it good for?


If you can pay off your debt in any LESS time than 35 months however, this card won’t be your best bet. This is because there are other interest-free balance transfer cards with shorter 0% windows – and lower fees. 

Barclaycard itself has a 34-month 0% balance transfer card with a lower 2.39% fee and generally the shorter your 0% term, the less you’ll pay.

Our handy balance transfer card calculator is a great way of finding the best 0% balance transfer card according to your level of debt and the amount you can afford to repay each month.

Any catches?

If you already have a Barclaycard, you won’t be able to apply for this one, because you cannot switch debt between cards offered by the same provider.

That said, over Christmas other providers have been upping their game in terms of lengthy 0% terms. Halifax is also offering 0% for 34 months on its Balance Transfer Credit Card. And the fee, at 2.8%, is still pretty decent.

You’ll need an excellent credit score to be accepted for any of these deals. But if you are unsure of yours, you can apply for a copy of your report via our credit monitoring channel

Using our Smart Search tool will give you an indication if you will be accepted or not without leaving a footprint on your credit file. When you get to our balance transfer tables, simply click on the button that says: 'Will I get this card?'

What’s the verdict?

The 35-month card sits top of the tables in terms of the longest 0% period on offer, which is just where Barclaycard likes to be. But the provider's hand was forced when it came to improving its balance transfer deals, after several competitors also upped their game (all great news for consumers!).

As well as the Halifax card mentioned above, Lloyds Bank has also stretched the 0% term on its Platinum Credit Card to 34 months, in return for a slightly higher 3% fee. The same deal is available from sister bank, Bank of Scotland. And the good news is you WILL be able to switch card debt between the two. 

 

For maximum breathing space to pay off what you owe, Barclaycard is a winner. But if you don’t need as long as almost three years to pay down your debt, there are cheaper alternatives.

Do everything you can to clear your balance within the 35-month 0% introductory period – setting up a direct debit is a good idea – else interest charges will soon start to mount up.

Please note: any rates or deals mentioned in this article were available at the time of writing. Click on a highlighted product and apply direct.

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