Barclaycard Platinum 20 Month Balance Transfer Visa review 2021

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Get 20 months to pay off your balance, and 6 months of purchases, without paying interest on this Platinum Barclaycard.

You say: ★★★★★We say: ★★★★★

Representative example: When you spend £1,200 at a purchase rate of 21.9% (variable) p.a., your representative rate is 21.9% APR (variable).

20 months

0% interest on balance transfers

21.9%

Representative APR

£0

Account fee

6 months

0% interest on purchases

Details

IssuerBarclaycard
NetworkVisa
Annual/monthly fees£0
Min credit limit£50
Max credit limitNot specified
Credit limit noteSubject to status
Purchases0% for 6 months reverting to 21.9%
Purchases interest-free period (days)56
Balance transfers0% for 20 months reverting to 21.9%
Additional cards available4

Expert review

Tom Stelzer

Review by


Tom Stelzer is a writer for Finder specialising in personal finance, including loans and credit, as well as small business and business loans. He has previously worked as a freelance writer covering entertainment, culture and football for publications like FourFourTwo and Man of Many. He has a Master of Media Arts and Production and Bachelor of Communications in Journalism from the University of Technology Sydney.

Expert review

If you have any existing credit card balance, but want more time to pay it off, this Barclaycard Platinum credit card gives you a better-than-average 0% interest period, as well as 0% on purchases for good measure.

While there’s still a balance transfer fee to take into account, the card could be a good option for anyone looking to spread out the cost of their existing credit card debt.

The interest rate is also relatively competitive, but ideally you’ll want to have paid off your transferred balance (or purchases) in full before the end of your 0% interest period.

If you don’t think you’ll be able to manage that, it may be worth looking for a card with a longer balance transfer period, or a lower rate.

The Barclaycard Platinum 20 Month Balance Transfer Visa is issued on the Visa network (used by a whopping 3.3 billion cards), so you'll be able to use it at more than 46 million merchants across more than 200 countries and territories.

Pros and cons

Pros

  • Customers report excellent customer service when dealing with Barclaycard
  • Over a year of 0% interest to focus on reducing existing card debt
  • Six months to spread the cost of purchases
  • A relatively low balance transfer fee
  • No annual fee

Cons

  • Minimum annual income requirement of £20,000
  • You may be offered an opening credit limit as low as £50

How does it compare?

Barclaycard's card

Data indicated here is updated daily
Name Product Balance transfers Balance transfer fee Purchases Annual/monthly fees Rep. APR Incentive Link
Barclaycard Platinum 20 Month Balance Transfer Visa
0% for 20 months reverting to 21.9%
1.45%
0% for 6 months reverting to 21.9%
£0
21.9% (variable)
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.
Representative example: When you spend £1,200 at a purchase rate of 21.9% (variable) p.a., your representative rate is 21.9% APR (variable).
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Other popular balance transfer deals

Table: sorted by length of 0% balance transfer offer, promoted deals first
Data indicated here is updated daily
Name Product Balance transfers Balance transfer fee Purchases Annual/monthly fees Rep. APR Incentive Link
M&S Bank Transfer Plus Mastercard
0% for 25 months reverting to 19.9%
2.85% (min. £5)
0% for 3 months reverting to 19.9%
£0
19.9% (variable)
Earn 1 point for every £1 spent at Marks and Spencer's and 1 point for every £5 spent elsewhere. 100 points = £1 reward voucher. Points will be converted into reward vouchers 4 times a year.
Representative example: When you spend £1,200 at a purchase rate of 19.9% (variable) p.a., your representative rate is 19.9% APR (variable).
Check eligibility
More Info
HSBC Balance Transfer Credit Card
0% for 25 months reverting to 21.9%
2.85% (min. £5)
0% for 3 months reverting to 21.9%
£0
21.9% (variable)
Discounts and exclusive offers for dining experiences, leisure activities and shopping available through HSBC Home and Away.
Representative example: When you spend £1,200 at a purchase rate of 21.9% (variable) p.a., your representative rate is 21.9% APR (variable).
Check eligibility
More Info
The Royal Bank Balance Transfer Credit Card (eligibility criteria apply)
0% for 18 months reverting to 19.9%
0%, transfers must be made within the first 3 months of account opening
0% for 3 months reverting to 19.9% p.a. (variable)
£0
19.9% (variable)
Representative example: When you spend £1,200 at a purchase rate of 19.9% (variable), your representative rate is 19.9% APR (variable).
Go to site
More Info
The NatWest Balance Transfer Credit Card (eligibility criteria apply)
0% for 18 months reverting to 19.9%
0%, transfers must be made within the first 3 months of account opening
0% for 3 months reverting to 19.9% p.a. (variable)
£0
19.9% (variable)
Representative example: When you spend £1,200 at a purchase rate of 19.9% (variable), your representative rate is 19.9% APR (variable).
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More Info
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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.

Repayment options

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 losing your promotional interest rate as a result (as well as damaging your credit score and incurring the late payment fee of £12). You could use a fixed-amount direct debit to ensure you've cleared your debt before the 0% period expires – simply divide your outstanding balance by 20 to see what you'll need to pay each month (this assumes you don't use the card for additional spending).

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've compared cards and settled on the Barclaycard Platinum 20 Month Balance Transfer Visa, completing the secure online application form takes about 15 minutes. Before you apply, check that you meet the eligibility requirements and have the information and documents you'll need to make the process as straightforward as possible. You can request a balance transfer as part of your application.

Frequently asked questions

What credit limit will I get with the Barclaycard Platinum 20 Month 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 20 Month 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 20 Month 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 20 Month Balance Transfer Visa abroad?

Non-sterling transactions are subject to a 2.99% charge. For example, if you spend 200 euros (£178.59), it'll cost you around £5.34.

What is the minimum payment on the Barclaycard Platinum 20 Month 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.

Finder credit card ratings

★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor

Our experts score balance transfer cards to determine their value against similar products on the market. We look at a number of important factors, like the length of the balance transfer offer, the balance transfer fee, any restrictions to making a transfer, plus the potential costs involved with running the card both in the short and longer term.

You can read more about our scoring criteria on our credit card methodology page.

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.

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