Long 0% balance transfers
You get 0% interest for longer, giving you more time to clear your debt – great if you need to pay it off slowly. Just bear in mind that these offers tend to come with a higher transfer fee.
A balance transfer is when you move money you owe from one credit card to another. It could help you take control of your debt and take a break from paying a higher interest rate. As balance transfer credit cards usually come with a 0% interest offer for a limited time, you could save money on interest and use this to pay off your debt quicker. You’ll often be charged a fee on the amount you’re transferring, and this will be added to your balance.
New balance transfer customers share why they chose a Barclaycard. Viewing time 1.17
This example shows how much you could save in interest payments if you transferred £3,500 from a card that’s charging you 19.9% interest, to our 36 month 0% balance transfer card. Remember: the promotional 0% offer is for a limited time, so if you don’t clear your balance within the offer period, you’ll be charged interest on the remaining balance. When the expiry date of your promotional offer is getting close, we’ll attempt to get in touch by email, text or letter to remind you.
£3,500 from another credit card to our 36 month balance transfer card for a one-off transfer fee
£95 each month – this will cover both your balance and the transfer fee
£1,391 in interest payments
When choosing a balance transfer, make sure you think about:
It can be tricky choosing the right balance transfer deal – because what’s right for you all depends on your circumstances and priorities.
Here are the different types you can choose from:
This could be the best option if you have a smaller balance or want to clear your debt quickly by making higher monthly repayments. The transfer fee may be smaller, but you’ll have less time to pay off the balance. So think carefully about how much you can afford to pay each month.
1. Choose the balance transfer card that’s right for you – compare our balance transfer offers for help in finding the best deal.
2. Apply for a Barclaycard online – you can use our free eligibility checker before you apply, to see if you’re likely to be approved. It’s quick, it’s easy and it won’t affect your ability to apply elsewhere.
3. Request the balance transfer – you can do this during your application or after you’ve been accepted. You’ll have 60 days to transfer your old balance to your new account. If you don’t complete the balance transfer, your promotional offer will expire.
Once you’ve got your card, go online to activate it (you’ll need your account details to hand).