Barclaycard has launched a new market-leading 0% balance transfer credit card, just hours after Tesco Bank announced it’s own joint table-topping offer.
The Platinum card gives 0% on balance transfers for over two years and comes with 0% interest on purchases for six months and a transfer fee of 3.5%.
The deal sees the credit card provider regain the top of the balance transfer table.
Credit card competition
Michael Ossei, uSwitch personal finance expert, says: “The battle in the credit card market is heating up as Barclaycard launches a new 26 month 0% balance transfer card just hours after Tesco announced its own 25 month deal.
“While the 3.5% fee is hefty, Barclaycard’s market-leading deal signals that it means business in the credit card arena.
“Six years ago the longest 0% balance transfer offer lasted 12 months – today, it’s more than doubled, with Barclaycard becoming the ever first provider to launch a balance transfer card with an interest-free period of 26 months.