Approval for any credit card will depend on your status. The APR shown represents the interest rate offered to most successful applicants. Depending on your personal circumstances the APR you're offered may be higher, or you may not be offered credit at all. Fees and rates are subject to change without notice. It's always wise to check the terms of any deal before you borrow.
Barclaycard Platinum 18 Month 0% Purchase and Balance Transfer Visa review 2021
Cut interest payments on existing card debt and spread the cost of upcoming expenditure with this 0% Purchase and Balance Transfer Barclaycard.
Finder rating: ★★★★★
Doing its job: 4.5/5
In a nutshell:
0% interest on balance transfers
0% interest on purchases
|Balance transfers||0% for 18 months reverting to 21.9%|
|Balance transfer fee||2.9%|
|Purchases||0% for 18 months reverting to 21.9%|
|Purchases interest-free period||Up to 56 days|
|Min credit limit||£50|
|Max credit limit||Not specified|
|Additional cards available||4|
|Incentive||Buy tickets for up to 3500 selected live events through Barclaycard entertainment and get 5% off tickets per year and exclusive presale tickets on selected festivals with 10% off ticket prices.|
Chris Lilly is a publisher at finder.com. He's a specialist in credit-based products including business and personal loans, mortgages and credit cards, and is passionate about helping UK consumers make informed decisions about their borrowing. In his spare time Chris likes forcing his kids to exercise more.
This Barclaycard Platinum card is something of a jack of all trades, with 0% periods on both purchases and balance transfers, a couple of perks, and no annual fees.
For those with existing card debt, the 0% period for balance transfers will appeal, and for those anticipating a large upcoming expenditure, the 0% period on purchases will appeal. If both apply to you, no problem.
The only downsides are the balance transfer fee and the fact that there are definitely longer 0% balance transfer periods available on the market.
Like most card issuers now, Barclaycard provide an online eligibility checker which can give you a good idea of your chances of getting approved for the card before you apply. Being a “soft” search his won’t affect your credit score (while submitting a full application can), so it’s worth doing.
Pros and cons
- Customers report excellent customer service when dealing with Barclaycard
- Over a year of 0% interest to focus on reducing existing card debt
- Over a year to spread the cost of purchases
- No annual fee
- Minimum annual income requirement of £20,000
- Applicants with low credit scores are unlikely to be eligible
- Don't forget that balance transfer fee! If cutting the interest on existing card debt is your main reason for considering this card, check out no-fee deals first
- You may be offered an opening credit limit as low as £50
How does it compare with other matched 0% deals?
You can make manual repayments through Barclaycard's app, by logging in to your online banking or over the phone (0800 731 0200). Alternatively you may wish to set up a direct debit.
A direct debit protects you from forgetting to make a repayment and either damaging your credit score, getting hit with a penalty fee (£12) or losing any promotional rates as a result.
You can arrange a direct debit for repayments when you apply for the credit card. The table below shows the options available.
Choose from the following direct debit options for your monthly repayments:
|Minimum amount||Fixed amount||Fixed percentage||Full amount|
How to apply
If you have compared cards and want to apply, completing the secure online application form takes about 15 minutes. Before you apply, it’s a smart idea to quickly use the “eligibility checker”, which can give you a good idea of your chances of approval before you apply. Crucially, because it uses a “soft” credit search, this tool won’t affect your credit score.
Frequently asked questions
What credit limit will I get with the Barclaycard Platinum 18 Month 0% Purchase and Balance Transfer Visa?
If Barclaycard is able to offer you this deal, the offer will specify a personalised credit limit based on Barclaycard's assessment of your situation. The minimum limit offered on this card is £50 and Barclaycard does not specify a maximum. Once you've had the card for a while and shown Barclaycard that you're reliable, you may wish to apply for a credit limit increase.
Can I withdraw cash using the Barclaycard Platinum 18 Month 0% Purchase and Balance Transfer Visa?
Although it's possible, withdrawing cash from a credit card account is generally not a good idea, as "cash-like transactions" (withdrawing cash at an ATM, getting cashback at the till, spending at a casino, buying currency, etc.) often incur steep fees and/or higher rates of interest.
The cash advance fee on the Barclaycard Platinum 18 Month 0% Purchase and Balance Transfer Visa is 2.99% (min. £2.99). For example, if you withdraw £50, you'll incur a fee of £2.99. Withdraw £250, and you'll incur a fee of £7.48.
The interest rate on this part of your balance will be 21.9%, which is the same as the standard purchases rate (chargeable from the day of the transaction – the card's usual "up to 56 days interest-free" grace period won't apply).
How much does it cost to use the Barclaycard Platinum 18 Month 0% Purchase and Balance Transfer Visa abroad?
Non-sterling transactions are subject to a 2.99% charge. For example, if you spend 200 euros (£180.02), it'll cost you around £5.38.
What is the minimum payment on the Barclaycard Platinum 18 Month 0% Purchase and Balance Transfer Visa?
Each month you must pay at least 2.25% of your balance at that point or £5.00 – whichever of the two figures is greater. So if you had, say, £200.00 outstanding, you'd pay £5.00, and if you had £888.89 outstanding, you'd pay £20.00.
Paying only the minimum required amount each month is generally not advisable as it makes it much harder to get debt-free before that introductory 0% period expires.