Barclaycard Platinum all-rounder Visa review
- Representative example:
- When you spend £1,200 at a purchase rate of 24.9% (variable) p.a., your representative rate is 24.9% APR (variable).
- 0% interest on balance transfers
- 22 months
- 0% interest on purchases
- 19 months
- Account fee
- £0
Our verdict
Cut interest payments on existing card debt and spread the cost of upcoming expenditure with this 0% purchase and balance transfer Barclaycard.We chose the Barclaycard Platinum all-rounder Visa as our best credit card for 0% purchases because it has the longest interest-free purchase period of any UK credit card with no annual or monthly fee.
This Barclaycard 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 downside, apart from the balance transfer fee and the fact that there are definitely longer 0% balance transfer periods available on the market, is that not all customers will be eligible for the full advertised interest-free purchase period: depending on your circumstances, once you apply you may be offered a shorter interest-free period instead. It’s up to you whether to take that risk, or opt for a card with a shorter guaranteed interest-free period on purchases.
Like most card issuers now, Barclaycard provides 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 won't affect your credit score (while submitting a full application can), so it's worth doing.
Pros
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No annual fee
-
Over a year to spread the cost of purchases
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Over a year of 0% interest to reduce existing card debt
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Customers report excellent customer service when dealing with Barclaycard
Cons
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Minimum annual income requirement of £20,000
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Applicants with low credit scores are unlikely to be eligible
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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
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You may be offered an opening credit limit as low as £50
Details
Product Overview
| Issuer | Barclaycard |
| Network | Visa |
| Representative APR | 24.9% |
| Annual/monthly fees | £0 |
| Balance transfers | 0% for 22 months reverting to 24.9% |
| Balance transfer fee | 3.45% |
| Purchases | 0% for 19 months reverting to 24.9% |
| Purchases interest-free period | Up to 56 days |
| Cash advances | 24.9% |
| Minimum credit limit | £50 |
| Maximum credit limit | Subject to status |
| 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 pre-sale tickets on selected festivals with 10% off ticket prices. |
| Additional Rewards Info | Buy tickets for up to 3500 selected live events through Barclaycard entertainment and get 5% off tickets per year and exclusive pre-sale tickets on selected festivals with 10% off ticket prices. Save 10% on food and drink at all UK 02 Academy venues. |
| Potential costs | 4.5 ★★★★★ |
| Doing its job | 4.3 ★★★★★ |
| Extras | 5.0 ★★★★★ |
| Overall Finder Score | 4.2 ★★★★★ |
Fees and charges
| Minimum monthly payment | 1% or £5 (whichever is greater) or the total of any interest, default fees and charges plus 1% of the outstanding balance. |
| Annual/monthly fees | £0 |
| Balance transfer fee | 3.45% |
| Foreign usage charge (EU) | 2.99% |
| Foreign usage charge (rest of world) | 2.99% |
| Cash advance fee | 2.99% (min. £2.99) |
| Late payment fee | £12 |
| Replacement card fee | £0 |
| Duplicate statement fee | £0 |
| Exceeding limit fee | £0 |
| Additional card fee | £0 |
| Dormancy fee | £0 |
Application Requirements
| Minimum Age | 21 |
| Minimum income | £20,000 |
| Availability | Available to new customers |
Repayment options
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 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 all-rounder Visa?
If Barclaycard offers you this deal, it 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 you're reliable, you may wish to apply for a credit limit increase.
Can I withdraw cash using the Barclaycard Platinum all-rounder 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 all-rounder 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 24.9%, 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).
What should I do with my old credit card after transferring the balance to the Barclaycard Platinum all-rounder Visa?
Transferring a balance doesn't automatically close your old account. In most cases, you'll want to close the old account(s) straightaway, especially if they have an annual/monthly fee or if you might be tempted to use them in the future. There is an argument that you should keep the old account open to help your credit score. That's because doing so keeps your "credit utilisation ratio" lower (that's a measure of how much credit you're using compared to what's available to you) and helps the average age of your credit accounts. However, unless you're just about to apply for a new mortgage, it's probably fair to say that most people would prefer to have no more bank accounts open than was truly necessary.
How much does it cost to use the Barclaycard Platinum all-rounder Visa abroad?
Non-sterling transactions are subject to a 2.99% charge (which is very standard). For example, if you spend 200 euros (£165.54), it'll cost you around £4.95 in fees.
What is the minimum payment on the Barclaycard Platinum all-rounder Visa?
Each month, you must pay at least 1% of your balance at that point or £5.00 – whichever of the 2 figures is greater. So if you had, say, £450.00 outstanding, you'd pay £5.00, and if you had £2,000.00 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.
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