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Barclaycard launch new 25 month balance transfer card zero interest

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Barclaycard will launch a new balance transfer card deal which will give new customers 25 months of zero interest when they transfer their credit card debts.

Bettering its existing market-leading balance transfer card by a month, the product will go live on its website on Monday, though it may be available on aggregator websites before then.

New customers will have to transfer a balance to their Barclaycard Platinum Card within 60 days of opening their account to qualify for the introductory offer.

Market leader: Barclaycard will introduce a new 25-month zero interest balance transfer card this Monday.

The transfer comes with a 3.5 per cent fee - £35 on a £1,000 transfer - but there will be a partial refund against this which reduces it to 3.2 per cent, or £32 on £1,000.

It will also come with 0 per cent interest on purchases for six months, and a typical APR of 18.9 per cent.

  More... The best balance transfer deals to help you clear New Year debts Borrowers with big credit card debts can save £830 in interest through balance transfer

Barclaycard has for some time been the market leader for balance transfers with its 24-month 0 per cent interest product, but this latest deal takes it further ahead of competing brands offering 23 months, such as MBNA, Natwest and Halifax.

Balance transfer cards are useful tools to help you reduce what you owe on your credit cards by taking advantage of lengthy periods of zero interest on existing debts.

This is Money has put together a guide to some of the other balance transfer deals currently on the market.

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