Approval for any credit card will depend on your status. The representative APRs shown represent 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 15 Month No Fee Balance Transfer Visa review 2022
Get 15 months to pay off your balance, and 6 months of purchases, without paying interest on this Platinum Barclaycard.
0% interest on balance transfers
Balance transfer fee
|Balance transfers||0% for 15 months reverting to 22.9%|
|Balance transfer fee||0%|
|Purchases||0% for 3 months reverting to 22.9%|
|Purchases interest-free period||Up to 56 days|
|Minimum credit limit||£50|
|Maximum credit limit||Not specified|
|Additional cards available||4|
|Additional Rewards Info||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. Save 10% on food and drink at all UK 02 Academy venues. Earn up to 15% cashback on selected retailers with Barclaycard Cashback Rewards.|
|Doing its job||★★★★★|
|Overall Finder rating||★★★★★|
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.
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.
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
- Three months to spread the cost of purchases
- No balance transfer fee
- No annual fee
- Minimum annual income requirement of £20,000
- You may be offered an opening credit limit as low as £50
How does it compare?
Other popular balance transfer deals
You can make manual repayments through Barclaycard's app, by logging in to your online banking or over the phone(0800 151 0900). 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 15 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 15 Month No Fee 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 15 Month No Fee 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 15 Month No Fee Balance Transfer Visa?
Although it's possible, withdrawing cash from a credit card account is generally not a good idea, as "cash-like transactions" (such as withdrawing cash at an ATM, getting cashback at the till, spending at a casino or buying currency) often incur steep fees and/or higher rates of interest.
The cash advance fee on the Barclaycard Platinum 15 Month No Fee 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 22.9%, which is the same as the standard purchase 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 15 Month No Fee Balance Transfer Visa abroad?
Non-sterling transactions are subject to a 2.99% charge (which is very standard). For example, if you spend 200 euros (£176.12), it'll cost you around £5.27 in fees.
What is the minimum payment on the Barclaycard Platinum 15 Month No Fee Balance Transfer Visa?
Each month you must pay at least 3.25% of your balance at that point or £5.00 – whichever of the 2 figures is greater. So if you had, say, £138.46 outstanding, you'd pay £5.00, and if you had £615.38 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.