New Top Balance Transfer Card – Get a sneaky extra month of 0%

A question about : New Top Balance Transfer Card – Get a sneaky extra month of 0%

There’s currently a credit card available from Barclaycard which will give you fee-free balance transfers (as long as they are requested within 60 days) at 0% for 10 months. Or to be more accurate, it is a Barclaycard, but it’s actually available from Barclays.

Confused?

Well, the technicalities here are, in some ways, academic. However, I’ll briefly explain how this works in practice.

The current Barclaycard 0% offer is long but is undermined by a 2% balance transfer fee. However, a 10 month 0% BT (balance transfer) offer is available in Barclays’ high street branches, and there you won’t have the fee to pay. Good news! And, even better, this offer is available online too (albeit not very publicly!)

So, is it any good?

Very. The longest 0% offer on balance transfers previously available – without a fee - was only for 9 months, so this trumps that (see Best Balance Transfers article). Also, Barclaycards tend to be easier to successfully apply for, making it useful for those with less than perfect credit scores (although unfortunately they may also only give you a low credit limit)

How can I apply?

As I mentioned, there are two ways; in a branch or online. Those wanting to apply online will find that this is where it gets a bit sneaky. The place you want to head is the Barclays.co.uk website, and click on Barclaycard. For ease, here is the direct link:

https://www.barclaycard.co.uk/barclay...html?MC=090YDZ

However, be careful. If you go to Barclays.com instead of .co.uk, you will most likely find yourself paying a nasty 2% fee on top of your 0% transfer.

At this point, it may seem fair to begin to wonder whether this is an oversight by Barclaycard; that it’s too good to be true and won’t be honoured once you’ve applied – leaving you with a search on your credit file and that dreaded fee again. Well, wondering that makes you a good MoneySaver.

That’s why I’ve got an official statement from Barclaycard, confirming that this offer is very much available, and 10 months fees-free transfers will be available to those who successfully apply. Here it is:

“Applications made through a Barclays branch or at www.barclays.co.uk include a promotional offer of 0% for 10 months on balance transfers. There is no fee for balance transfers made when applying for this card or within two months of the application being made.”

Of course, I’ll keep an eye on this as it progresses, as it may be that once Barclays feels the pinch from this loophole being found in its system, the card will be withdrawn. However, for now it’s there for taking, and for tarts it's the best balance transfer card on the market.

Best answers:

• Thanks Martin.
  Anyone know if they give you an immediate online acceptance confirmation and credit limit?
• I noticed this advertised in Barclays High Street branch today. Any ideas whether I would be disadvantaged in applying as we already have Barclaycard Mastercard and Barclaycard Visa - which are always paid off (used for the regular food/petrol shopping)?
• Thanks for this Martin, just completed an application on-line and will keep my fingers crossed!
  My M&S more card is almost up for my 6 month balance transfer offer and it would great to push my debts into 2006........
  (Enjoying your Saturday Guardian articles greatly.)
• I'm sure everyone *will* be checking the balance transfer T&C's carefully.
  However, if you're wanting to shift large balances, just be aware of "balance transfer condition 1"...
  "We reserve the right to refuse a balance transfer or to limit the amount that can be transferred, in any case the minimum is Ј250 and the maximum will be Ј5,000 or 90% of your credit limit, whichever is lower, subject to the available credit limit on your account."
• I'm a relative newbie to having more than one credit card with a fair amount o/s on each. I have just applied for this offer as I have 2 cards on a 3.9% life of balance term - both up to my credit limits. Should I transfer the proportion I can easily clear in 10months from one of these cards or will this mean I am having to pay more monthly?
  Always assuming I'm accepted for a card. My other 2 cards are M&s and Texaco.
• wendydrury - 3.9% is an excellent rate, I would hesitate to move money off it. Any money you have available to pay it off would do better in, say, a Halifax cash ISA paying you 5% interest.
  However if you are keen to clear your debt asap then it is an option. Just check what the % minimum repayment is on Barclaycard compared to your current cards to see if your monthly repayments wil be higher or lower.
• Lost that bet I'm happy to say. Thanks for the info.
• Thanks Martin Ive been waiting for a good tip like this!! Ive applied and its is in process!
• Does anyone know if their BT's conditions allow Super BT's - injection of cash direct to your current account?
• Have applied. if accepted will be great news Thanks Martin
• Sorry, maybe I'm missing something here, but if you follow the instructions and click on the "View Summary Box" at the start of the application process, it does state that there is a 2% handling fee. Have they already closed the door or is there a way round this! :confused: