To transfer or not to transfer?
If you only pay your minimum monthly payment, make sure you can also afford the extra monthly payments for your money transfer on top of this. If you ever want to pay more than your minimum payment each month to bring your balance down and pay it off earlier, that’s absolutely fine.
It’s also important to understand how your promotional period and interest rates work. Your 0% interest rate could go back to the standard rate for three reasons:
if you don’t make your minimum monthly payments on time
if you go over your credit limit
or if your promotional period has ended (we’ll tell you what this is before you make your transfer)
Plus, once the money has been transferred and you continue to use your Barclaycard for purchases or cash withdrawals, you’ll charged interest from the date they’re added to your account, even if you pay them in full on your next statement.
And one last thing – your simple standard rate follows the Bank of England Base Rate, so this could change by the time your promotional period ends. 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. You can find out more about how your promotional period and interest rates work in your
money transfer terms and conditions