Barclaycard Platinum announces it will be cutting the cost of borrowing by offering £20 off balance transfer fees until January 31st 2011
[USPRwire, Thu Dec 23 2010] Barclaycard is offering £20 off the balance transfer fee for new Barclaycard Platinum customers applying directly through its website and partner sites*. The offer, which is the first of its kind, provides a discount on balance transfers over £3,000, reducing the effective handling fees significantly. The deal means that Barclaycard is leading the way by giving money back on balance transfer fees - something no other credit card provider is doing - during the most popular time for balance transfers.
The offer is available when a customer applies to transfer £3,000 or more by 31st January 2011**.
The £20 deal would mean that a customer applying for a balance transfer of £3,000 to their new Barclaycard Platinum could see the effective handling fee cut from 2.9% to just 2.23%***.
New customers will also benefit from sixteen months' 0% interest on balance transfers (2.9% fee). Purchases for the first three months will also be interest free, the typical APR is 16.9% variable.
In addition to helping customers cut the cost of borrowing, Barclaycard offers its customers the UK's largest and simplest reward scheme. Barclaycard Freedom gives customers Reward Money on purchases at the point of sale, ending the need to work out the meaning of reward points and phasing out easy to lose cards and vouchers. The scheme is now available in 22,000 retail outlets from House of Fraser to local convenience stores.
Notes to Editors:
* See individual sites for offer eligibility
** See website for terms and conditions
*** The effective handling fee will vary depending on the amount transferred as the offer will remain at £20 off the balance transfer handling fee for amounts over £3,000.
Barclaycard, part of Barclays Global Retail Banking division, is a leading global payment business which helps consumers, retailers and businesses to make and accept payments flexibly, and to access short-term credit when needed.
The company is one of the pioneers of new forms of payments and is at the forefront of developing viable contactless and mobile payment schemes for today and cutting edge forms of payment for the future. It also issues credit cards, credit building cards and charge cards to corporate customers and the UK Government. Barclaycard partners with a wide range of organisations across the globe to offer its customers or members payment options and credit.
In addition to the UK, Barclaycard operates in the United States, Europe, Africa and the Middle and Far East.
For further media information, please contact:
Barclaycard Press Office
1234 Pavilion Drive