This is Britains LONGEST EVER 0% interest balance transfer card - now an astounding 3 years interest free! ALSO 0% interest for 6 months on purchases!
Looking for a card that could help you regain control of your credit card balances? With 0% interest on balance transfers for 3 years, our Platinum balance transfer offer could help you make considerable savings over a year. With Platinum you can enjoy:
0% interest on balance transfers for 3 years from account opening (2.99% fee applies. We’ll first apply a 3.5% fee but then reduce this to 2.99% by a refund – terms and conditions apply)
0% interest on purchases for six months from account opening
Contactless payments so you can use your card to make quick and easy purchases of £20 and under
A way to pay with your mobile – you can request a Barclaycard PayTag, a handy sticker that turns your mobile into an easy way to pay
mybarclaycard online servicing – your account, your way – to help make staying on top of your account that bit easier, you'll receive your monthly statements online through mybarclaycard. So we need your email address to send you an alert to let you know when your latest statement is ready to view. If you'd prefer to receive a copy of your statement by post, you can change this as a preference in mybarclaycard when you register
NO CASHBACK AVAILABLE FOR THIS DEAL. You can receive cashback for the 35m Balance Transfer card but NOT this 36 month.
Top comments
JohnnyUtah to donslibi
14 Feb 1579#12
Yawn, nothing to do with this deal.
donslibi
14 Feb 1578#7
I really wish we'd stop living off the promise of future earnings. Have we learnt nothing from the recession?
Step 1 is stop borrowing at every opportunity.
fishmaster
15 Feb 154#97
This is how banks work.
TheLazyOne2
15 Feb 153#142
Why do you assume you are putting yourself in debt? People use 0% credit cards who have plenty of money in other vehicles (ISAs, Equities, property) which would cover the purchase. Why would they take the money out of those to buy something (i.e. a car) that is not going to generate interest when they can spread those payments on a 0% card?
Don't assume everyone is using credit cards to fund purchases they couldn't otherwise afford.
Latest comments (268)
vascogouveia
5 Mar 17#268
sorry Jimmy2007 but I still have to pay like 5000 pounds of my car. could I apply for this and transfer the credit from blockhouse over to this?
Gavin01
5 Apr 15#267
No the only person that can cancel the card is you or the provider
Saintledger
5 Apr 15#266
I've been searching online but I can't seem to find an answer. If I go for a balance transfer will the my credit card I was previously using be cancelled?
2 months ago I lost my job, but thankfully I've just found a new one, I was going to get a loan out to sort out the credit card debits I had amounted while out of work but this seems to be a much cheaper way of sorting it out.
ChampionshipManager
8 Mar 15#264
Is there any catch to this?
Do they really give you 6k bones free for 3 years, which you can just transfer to another card after 3 years?
Matty8787 to ChampionshipManager
8 Mar 15#265
What is to catch? They don't give you anything. You borrow 6k if that is indeed the amount they agree to credit you with and then you pay it back.
gvkpdm
20 Feb 15#241
Hi, Topcashback tracked my cachback of £31.50 for two days then from yesterday they had changed the status to declined and crossed. I have got the approval email from Barclays that my application was successfull.. Topcash back seems nasty and they dont have customer care number to contact
davtom to gvkpdm
7 Mar 15#263
TCB have a process on their website that you can use to request that they look into it.
I don't know if this deal qualifies but they do do their best. I have used the process several times. Once I had a cashback declined and then declined again for the same transaction; they managed to sort it out for me and the third time I got it!
Be aware that you are looking at a likely wait of months and there are no guarantees.
uktottys
26 Feb 15#262
Well despite it telling I have to wait 5 days and they were going to refer it etc, I got a text message saying my new card was on its way! No idea of limits and stuff yet
techmob
26 Feb 15#261
Anyone else get this?
Unfortunately, we're currently experiencing some technical issues with our application form. Please accept our apologies whilst we try and resolve this issue.
However, rest assured, we have your application details logged on our system and we'll be in touch within the next 5 working days.
Gavin01
25 Feb 15#259
got declined lol. says ive had a barclaycard before and not managed it correctly? never had a barclaycard ever??
just shows that checker thing is pants as it said excellent chance
DEALS4EVA to Gavin01
25 Feb 15#260
Give them a ring, im sure it can be sorted out if you've never had one before.
Gavin01
25 Feb 15#258
anyone applied today ? website seems to be having troubles
Yikes
24 Feb 15#257
I applied for this on Feb 18th, got the "we'll contact you in 5 days" and still haven't heard anything back. :disappointed:
I know it's not 5 working days yet, but everyone else on here seems to have had a quick turnaround (texts and whatnot) so I'm a bit worried now!!
marra
22 Feb 15#256
I have my card and I just activated it I went to do the balance transfer for the 0% over 3 years and there's no mention of it on my account but it says I can do it at 6.9% until paid in full
Bugeyed
22 Feb 15#255
Cashback tracked and confirmed at Quidco for this 36 month card
kaiser051
21 Feb 15#253
Not to sure how this all works What is the best way to use this to buy something large like a kitchen for a few thousand do i pay for the kitchen on my current card then transfer the balance to this card ?
uktottys to kaiser051
22 Feb 15#254
I was wondering the same but yes I think this is the way to do it
Matty8787
21 Feb 15#252
I got 5.9k limit and earn 17.5k
Gavin01
21 Feb 15#251
thats quite a big limit compared to salary. im self employed. anyone know they check me ?
MisterMister1
20 Feb 151#246
So... has anyone who got the "we'll contact you within 5 working days" message actually got the card, or does that basically mean it's a no?
Matty8787 to MisterMister1
20 Feb 15#248
Yeah mine came, and with all the terms agreed on the web on the application.
looke_o to MisterMister1
21 Feb 15#250
Yes I got a text on Monday, card arrived on Wednesday stating credit limit.
Gavin01
20 Feb 15#239
what sort of credit limit are people getting?
duckehhh to Gavin01
21 Feb 15#249
earn 19k. got 6.5k limit
really fast turnaround for this card. applied yesterday. card already on the way according to the text.
Doggpound
20 Feb 15#247
Hello All
I'm considering applying for this card as well but have been in financial trouble with Barclaycard whilst at university.
My credit has improved since then though not perfect and I have also stayed out of debt.
Does anyone know what might happen if I applied for this card.. other than the possibility of being declined?
I'm not bothered about being declined but just don't want to reopen any old wounds, even though it has been way over 6 years (statute).
Just wondering if anyone has any input on this.
I also tried Martin Lewis' link which did a soft search on my credit file and they basically gave me the green light to apply for it
Thanks in Advance
tgill00
20 Feb 15#244
I wonder if i could put my student loan on this card :smiley:
uktottys to tgill00
20 Feb 15#245
Yes if your student loan is on a credit card, that's how balance transfers work.
supadryz
20 Feb 15#243
Hi, Have a quick question, it may have already been answered.
I have a barclaycard already but not the Platinum so 1st I'm guessing I won't be able to transfer from my card to this new one. 2nd can I still have this card as it's a Platinum & transfer anything from other cards ie. Tescos or Capital ONE.
gvkpdm
20 Feb 15#242
any suggestions?
stphnstevey
14 Feb 15#33
Can you have more than one Barclaycard?
kneale81 to stphnstevey
14 Feb 15#37
Yes.
uktottys to stphnstevey
20 Feb 15#240
If you already have a Barclaycard credit card, please use the main credit card page. Our tool is only set up for new customers right now, but that doesn't stop you applying for another card.
JonesOsmosis
19 Feb 15#238
Hey, maybe someone could help me...
Could you use this to knock off some money from a car loan (transfering the balance to another bank)? :confused:
Anarki
19 Feb 15#237
Mines all setup now, got the headline deal too (36 months interest free) first thing I did was submit my balance transfer, 20 minutes later I had their fraud department phone me asking if the transaction was legit (4 figure sum) went through all the relevant security checks, sorted.
Fair play to them and their systems for being on the ball.
SoulEater
19 Feb 151#236
Had this card for about a year, best thing i've done,helped me out loads. Not regretted it at all.
looke_o
19 Feb 15#235
Got my card, set up direct debit and transferred balance - should go through tomorrow. Ideal. Will make an extra payment via debit card as well as takes a month or so to set up the direct debit apparently.
biggysilly
19 Feb 15#234
Sorry bug eyes, but where? :man:
aaron1uk
19 Feb 15#233
Tried applying no luck, got myself into some debt with poor cards in my youth and was hoping to help myself by getting 0% for some time but it wasn't happening.
aramaj36
19 Feb 15#232
Mine never even tracked , no trace.
When I try to lodge the claim , its there the name: Barclaycard 35 months , but below it has no date of the trace being done.
Don't know what happened?
ChampionshipManager
14 Feb 15#73
Anyone bought a house on this?
Amerviv to ChampionshipManager
15 Feb 151#80
Yes, I did in 2011, My wife and I started taking advantage on the CC deals by switching all our spending (includes the last 2 month of rent but with fee) to 0% purchases card, when the balanced reached on her first card (within 3 month), I applied for another one on my name, we did that in turn and saved all our cash (apart from the direct debit bills) for the deposit of our first house.
When the 0% offer ends, we transfered the balance to another 0% BT CC, in a very short time, we managed to save 25% deposit for a good mortgage rate at the time. However, I doubt that this is still possible after the new mortgage affordablity rules which was introduced last April, as banks and building societies nowadays look at all CCs as high risk even if they were all on 0% offers and even if you have some spare cash to pay in full incase your BT CC application was rejected. We keep our cash in 5% paid interest bank account such as Nationwide (up to £2500 for 1 year) or 4% like Lloyds Club (up to £5000), or Santender 123 (up to £20,000 3%), all taxed of course, but still much better than the best current ISA deals and much higher return than the BT fees of 3% for 3 years (1% per year) in this Barclaycard for example, but you can find a cheaper BT fees on MSE website such as Santender which offers 0% BT CC with no BT fees, but you need to have a good credit score.
ChewieT to ChampionshipManager
19 Feb 15#231
I was £8 grand short from being able to get a 75% LTV rate on a mortgage. I used a 0% credit card to borrow the money. Halifax allow you to withdraw cash from a credit card to a current account free of charge. So I withdrew the 8 grand in several chunks and transferred it to a 0% credit card.
mikerr
19 Feb 15#230
Do you not have a mortgage then ? :stuck_out_tongue:
DEALS4EVA
19 Feb 15#227
id be interested to know if the tcb has tracked for anyone as well...
Matty8787 to DEALS4EVA
19 Feb 15#229
Not for me, not yet anyway.
But when I applied I got the server technical issue problem, although the card was accepted by text.
Is there a way we can open a ticket via tcb for this?
OFI
19 Feb 15#228
Tempted but a little put off by the transfer fee
oliverkennedy10
18 Feb 15#226
Which would you reccomend I've just applied for this card. Would be my second card.. First was a 0% but for use only in america went to NY. Now I'm unsure if I've made the correct choice for small purchases or putting money from work to the card for savings.. I'm 22 Years old thanks!
aramaj36
18 Feb 15#224
Anyone`s cashback tracked for this?
oliverkennedy10 to aramaj36
18 Feb 15#225
Not at the moment.. Pending still.
Bugeyed
18 Feb 15#223
yes i added it, thats why it has my name under it
steamuk
18 Feb 151#222
As an old man who struggles now and has all the mistakes with money and my best days of earning behind me I would encourage everybody to prepare for a long life whilst living for the day.
Bigfootpete
18 Feb 15#221
nearly 3% fee on the transfer? No thanks, I'll take the fee free Santander deal.
Bugeyed
17 Feb 151#207
Not sure if its already mentioned in the 11 previous pages of comments, but don't forget £30 Quidco cashback
HOT HOT HOT!
I got this when it was 0% at 35 months last year! Got me out of a sticky situation!
Thanks OP may it help others as well! :smiley:
MuscleFlex
18 Feb 15#218
Phew! Thanks for confirmation. I started to get worried there as I thought my barclaycard pays off purchases before reverting back to the 0% balancer transfer.. but the previous comments got me worried. I have £150 on my barclaycard for purchases on top of my balance transfer.
Towner
17 Feb 15#217
Thx op. Went for the 34 month deal with quidco as the fee is slightly less.
donslibi
14 Feb 1578#7
I really wish we'd stop living off the promise of future earnings. Have we learnt nothing from the recession?
Step 1 is stop borrowing at every opportunity.
rhinopaul to donslibi
14 Feb 151#8
I kinda agree but I am also guilty. I know my parents generation never had the use of CC and they saved and paid off their mortgage and have a nice retirement. Most people I know who have CC have loads of debts and no savings.They have everything they want now but I wonder what will happen in the future.
JohnnyUtah to donslibi
14 Feb 1579#12
Yawn, nothing to do with this deal.
sunflowerD to donslibi
14 Feb 15#41
I agree, however for those who already have credit card debt and wish to pay it off or have an unexpected emergency payment, the long interest free rates are a great way of gaining back financial control. The key is to reduce your credit limit each time you pay some of the card balance off to ensure you can't keep spending on it.
aztech to donslibi
14 Feb 151#46
Step 2 is checking out HUKD for things you never knew you needed/wanted/existed and now you have the finance to purchase.
TheLazyOne2 to donslibi
14 Feb 15#72
What if someone is planning on buying something anyway for a few thousand and instead of buying it outright put it on a 0% interest credit card and pay that off whilst putting the cash into an investment that is actually going to gain interest, e.g an ISA, or even equities (if you know what you're doing)
bulletfoss to donslibi
15 Feb 152#81
Comment
That's not why I use a credit card.
I make ALL of my monthly purchases on credit card (apart from rent and bills) as you have really good purchase protection. I then use my salary to pay off my balance every month. It helps my credit rating and allows me to be flexible in my spending.
safc1967 to donslibi
15 Feb 15#98
Yes we could all do that if wages had not been eroded so far against the cost of living.
RobDay to donslibi
15 Feb 151#109
How are your comments relevant?
If you see a deal on here that is too good to miss, and you don't have the available funds at the time the deal is posted, then a credit card is a really handy way of taking advantage, plus the added bonus of purchase protection for goods over £100. I personally have funds to pay my £2000 debt with a sainsburys credit card, but paying around £200pm with 0% is more appealing to me, so then I have cash available for other things.....
If a credit card is used properly, you'll actually save money on purchase over time than those using cash or debit cards only.
Rob
dodgymix to donslibi
15 Feb 151#133
No mortgage for you then???
Ultima2876 to donslibi
15 Feb 151#138
If you already have debts and are on course to pay it off in 3 years, you can just cut out all the interest with something like this.
robtom11 to donslibi
15 Feb 15#164
You can have a credit card and use it sensibly - for example my car insurance was £800 if you paid in full however if you paid every month it went to £1200 - I got a credit card and paid it every month. I understand we shouldnt get credit cards if we can't afford to pay it all off but if you are sensible you should get one!
N1AK to donslibi
16 Feb 15#170
Credit can be very beneficial people to people who use it appropriately. Besides which, someone who already has a credit card debt and is looking for a way to decrease the interest while they pay it off doesn't need, or benefit, from bland platitudes like that.
LM290 to donslibi
17 Feb 15#195
Did you buy your home outright ?... No? Then I recon you are be borrowing on 'promise of future earnings'.
It's how the world works, get over it.
pwuk to donslibi
17 Feb 15#211
Yes, but in the real world, where someone has some debt it make perfect sense to re-finance to a cheaper deal.
thebritishbloke to donslibi
17 Feb 15#216
You realise a balance transfer is to save money when you've already borrowed money, right?
gwapenut
17 Feb 15#215
Bet that 24 month deal only has 1% repayments too.
I always go with lowest bt fee per month of deal, simple division. Maybe allow 1 month less for switching and application delays at due end. Not failed yet when taking my chances...
Reload
17 Feb 151#212
2.99% transfer fee is a lot. Can easily get 1.5% fee on 24 months and then just switch again later. No idea why people would bother with this.
dfarrall to Reload
17 Feb 15#214
Because it saves you re-applying for credit for another year and potentially being unsuccessful
dfarrall
17 Feb 15#213
Yes.
Anarki
17 Feb 15#205
Within an hour of my writing on here that I had a text last night about my card arriving, I have received an email with a welcome pack and also stating my credit limit...
...Which is over 3 times the amount I actually need. Needless to say I'll be doing my balance transfer and cutting this card up once it arrives.
DEALS4EVA to Anarki
17 Feb 15#210
That's a sensible thing to do :smiley:
techmob
17 Feb 15#209
Hi, I have a marks and Spencer's credit card , can I transfer from this to the barclaycard, do you know?
Thanks
trizinger28
17 Feb 15#208
No it isnt a negative atitude at all. I agree about getting you house in order though... There IS a space between spending like theres no tomorrow and being a life long bore.. In answer to your question I am a working class middle aged chap, i dont have tens of thousands of pounds in the bank or drive a brand new BMW M3... but i do own my own home, and take at least two great hols a year so i have seen a fair old chunk of the world. LIve your life folks, but also dont be frivalous .. Dont grow old wishing you had done more or you will be sitting in your rocking chair reminiscing about the 60" tv you once had instead of the fabulous things you saw on your adventures !!
<
tnpmonkey
17 Feb 15#206
what Absolute tosh!
gwapenut
17 Feb 151#204
No longer true that you will "get charged interest on the total amount until you pay off your balance transfer". Any payments you make pay for the purchases first. You may pay a small amount in interest, but it's no longer as bad as it was a few years ago.
That said, I agree it is cleaner to get a separate card for purchases, unless the purchases and BT 0% periods end within 1 month or so of each other.
gwapenut
17 Feb 15#203
In fact, to use a closer analogy - after year 1, let's assume you repay at 2.5% per month of the balance (this is more than in reality).
For the 6% loan, you would pay about 5.2% of the amount in interest in year 1, and then similar (but smaller) amounts in years 2 and 3.
For the credit card, you would pay 3% of the amount in year 1, and then nothing for years 2 and 3.
Even if you heavily skewed it by suggesting you pay back the loan evenly and the credit card at 2.5% per month, you still end up paying about 5% on the loan in the first year.
So you are quids in after the first year, and laughing year on year after that. Until year 4 where you pay back a small fortune unless you re-stooze!
sameerpawar
14 Feb 153#56
Remember the trick of the banks - after you transfer your balance, if you make any purchase using the credit card, every time you try to pay your purchase, they will deduct your balance transferred amount and will charge interest on your purchase. So you can never pay off your purchase unless you nil your balance transfer
rox78 to sameerpawar
14 Feb 151#59
Wrong. Law states the lowest interest rate is cleared 1st
davidgordon5688 to sameerpawar
17 Feb 15#202
Yes, this was the case when I worked for a bank. Basically it's a good deal if you don't use the card for purchases, otherwise you get charged interest on the total amount until you pay off your balance transfer. Better getting a separate card for purchases.
A rotten practice.
royals
14 Feb 15#39
ITS NOT FREE!!!
Advertising these deals as 0% should be outlawed
• 0% interest on balance transfers for 3 years from account opening (2.99% fee applies. We’ll first apply a 3.5% fee but then reduce this to 2.99% by a refund
Hey everyone want to borrow £1000 for free. That's ok ill charge you a £1001 admin fee.
davidgordon5688 to royals
17 Feb 151#201
It's a perfectly legitimate statement - there's a big difference between a one-off fee and interest charges.
Anyone who's had a credit card before should know this tbh. And if you don't, you shouldn't be allowed one.
steamuk
17 Feb 15#199
Just want to point out some maths for these transfer fees...
If you borrow £1000 at 6% per annum and paid it off evenly over 1 year you would roughly pay 3% of your borrowed amount in interest.
If you borrow £1000 at 3% transfer fee and paid it evenly off over the year you would pay 3% on your borrowed amount.
My point is that you should always take into account that the transfer fee is a higher cost than it might appear to be versus other forms of borrowing.
gwapenut to steamuk
17 Feb 15#200
But this is a 3 year card, not a 1 year card. The maths heavily favours the upfront balance transfer fee if you re-do it for a 3 year term.
sgtbarton
17 Feb 15#198
Did not do cashback (forgot) but I have a not so perfect credit history and I got accepted for this fine! (Was not expecting that at all tbh)
instantly got a code to use to login online and see the credit limit instantly!
Nothing about getting a different deal, no emails, just a login and I setup so I can login anytime from now on.
Ambersky
17 Feb 15#197
Can't find out how to get deal and TCB - am I just having a thick day lol
looke_o
16 Feb 15#189
Had a text saying card will be with you in next two days but no other communication.
They must have had lots of applications at once and taken system offline to deal with manually but are not doing things in order.
Will see what comes in the post if I don't like their terms (as in if I get offered a shorter repayment time frame 0% or smaller amount to transfer I will just reject)
I would have expected an email or a courtesy call!
Matty8787 to looke_o
16 Feb 15#192
I got same, wonder how this will effect topcashback? Will it still track.
Anarki to looke_o
17 Feb 15#196
Same situation for me, applied on Sunday, went through everything, it asked me to create an user account/secret question etc, then failed to process and said will be in contact within 5 days.
Received a text last night saying your card is on its way...
No idea of credit limit, no idea of balance transfer period, rates, etc.
Matty8787
16 Feb 15#194
Ah ok, I will just have to wait and see I guess.
looke_o
16 Feb 15#193
I didn't do cashback via that link, did it via civil service discounts (more cashback) who will honour with proof.
gwapenut
16 Feb 15#191
Most dealers don't accept card for anything other than deposit - until you offer to pay their card issuers' handling fees!
Other tip - maximise the deposit where you can, within reason. They're often happy to absorb the fees on this bit.
maaow
16 Feb 15#190
Thanks, that is a good idea! I'm going to be treating myself to a new motor next year, so will probably do this! Always try to get no more than 2 year finance anyway due to the depreciation. For now just need to get a good deal for the OHs remaining 2 years :/
thecynicalsaint
16 Feb 15#188
Quite a negative attitude, a more positive attitude is to believe that tomorrow will come. And the day after etc.
And of those people who say tomorrow may never come, are you really spending today as if it was your last? Are you seeing the wonders of the world, doing once in a lifetime activities? Or are you still going to work, still watching East Enders, etc.
atiqkamran
16 Feb 15#187
i got this message ..why i cant have the same offer : "You have not been accepted for the credit card you applied for, but we can offer you the following as an alternative" any idea why is that ?? they offered me 17 months one not 3 years one:(
True. And balance transfer is lowest interest i.e. 0 interest and is deducted first.
trizinger28
16 Feb 15#184
Oops, I didn't read all of the original donsibli post.. but hey,, don't be sarcastic :stuck_out_tongue:
dodgymix
16 Feb 151#183
I assume the sarcasm was lost on you
trizinger28
16 Feb 15#182
I disagree.... Why pay upfront for something you haven't had if it can be paid monthly at little or no extra cost? A perfect example is the TV licence whereas you are forced to pay upfront for a service you have yet to receive! disgusting imo..
trizinger28
16 Feb 152#181
I couldn't agree more....
Lucy_D
16 Feb 15#180
Anyone else got the 'systems are experiencing problems' message?
coursemyhorse
16 Feb 15#179
Good deal. I credit card tart and always have done. I don't do loans as they are less flexible for my needs and work out more expensive than applying a tiny bit of common sense and some basic maths with using credit card deals.
adnaan_23
16 Feb 15#178
Yes technically you could. What you have to do is get a 0% money transfer card (this is different to a balance transfer card, 'money transfer' lets you transfer actual money directly from the card to your current account whereas a balance transfer card only lets you transfer your existing credit card balance). The current lowest transfer fee is 1.94% for a 24 month 0% card from MBNA. Transfer the maximum possible amount (subject to your credit limit) into your current account and pay off your costlier overdraft. So you end up paying a total fee of 1.94% for the 2 year term. You will need to keep up with minimum payments each month or you lose the deal.
You could use the eligibility tracker tool on the MSE website to see how likely you are to be accepted for the card - http://www.moneysavingexpert.com/loans/cut-loan-overdraft-costs#MBNA .
If your credit rating isn't very good it might be advisable not to apply as a rejection will just make it worse and leave a negative record on your file.
MuscleFlex
16 Feb 15#177
For those saying they have more than 1 barclaycard - how old are your cards?
If you applied for a barclaycard last year... surely you can't reapply for this 2nd one to use the offer?
mango carrot
16 Feb 15#176
I applied and was accepted for this on Saturday evening, but I haven't had an e-mail and can't log in to the site? Anyone else had this issue?
magicjay1986
16 Feb 15#175
Hi :smiley: I've removed the cashback from the title because this is only available for 34 and 35 month cards and this is 36 months.
jimmy2007
14 Feb 152#27
I bought a car and then transfered the balance on the 32 month interest free card.
I'm now paying enough to finish paying at month 19.
Saved me paying interest to the finance company
Heat Sink to jimmy2007
14 Feb 15#64
sounds like a great idea but how did you pay the finance company? Did you pay them from another card and then transfer the balance?
Askrulous to jimmy2007
15 Feb 15#140
Nice use of the card.
I considered doing the same to benefit from leaving my some of my savings untouched, but the government has ensured interest on my savings are so derisory it really wasn't worth the effort!!
maaow to jimmy2007
15 Feb 15#161
Did you buy the car on finance or did you pay for it on another credit card? Great idea - keen to look into doing the same!
mark_trev to jimmy2007
16 Feb 15#174
Unless you are paying the minimum £25 a month (i.e. the car cost £475) then why not just make the minimum monthly payments of £25 and the "surplus" keep in a bank account like the TSB 5% account. That way it will be earning interest and simply pay off the balance at month 32.
Assuming:
the car (lets call it a Suzuki Jimmy '07 reg :wink: ) cost £5,000
you make min bal pymts for 32 month of £25
you set aside £130 in a 5% account (may need multiple accounts e.g. Lloyds, TSB, Yorkshire Bank, Nationwide)
You'd earn £230 ish after tax
Assuming balance transfer rate of 2.99% = £150 charge on £5,000
Therefore profit = £80 + £31.50(TCB) = £111.50
Which if you ask me....
....isn't worth all the hassle
(And that's coming from the man who's been there and got the t-shirt)
zaax
16 Feb 151#173
Con - one you have transferred do not use it otherwise you have to pay off the whole lot before you pay off the purchases.
creon78
15 Feb 15#166
could this pay my overdraft off?
WillPS to creon78
15 Feb 15#169
Not directly. The only cards which allow you to 'balance transfer' to a current account are the MBNA run ones (often sold by Virgin Money).
What you could do, with a bit of planning, is get approved for this one, then do literally all your spending on another credit card (presuming you have one, and it can't be a Barclaycard), transfer that to this card (within the time limit) and pay off your overdraft with whatever you would have spent.
dodgymix to creon78
16 Feb 151#172
You'd be better off getting a 0% on purchases and then instead of buy food / petrol / other bits just it all on the card and clear the overdraft from your wage.. Once cleared make regualr payments to clear the card, anything left and balance transfer if to someone like Santander / tesco clubcard credit card and get a 12/15m 0% interest / 0% BT fee option
dodgymix
16 Feb 15#171
no come on Rob, if you cant afford the car insurance upfront youre obviously living beyond your means :wink: donslibi statement is 100% correct lol
I wonder if Donslibi also pays his council tax in full on 5th April each year and his Gas / electric / water upfront.. all debt if not
deadly_b16
15 Feb 15#168
Heat added!
Askrulous
15 Feb 15#167
You are correct, my memory doesn't serve me well. Mind you its largely a blur to me as when the icelantic bank crisis occured, panic had taken hold - all I was thinking was I'm well over the fscs cover and its not even a uk bank!
Lucy_D
15 Feb 15#165
I got the same
jaydeeuk1
15 Feb 15#163
Not everyone with credit cards is rolling in debt, if you know what you're doing you cab make quite a lot of money from them.
gwapenut
15 Feb 15#162
Rather than paying a BT fee I reckon you'd be better off getting the car on an 18-month 0% card with reward points such as Clubcard or M&S - then in 18 months look to shift the balance.
At least with the reward points you can offset some of the handling charge the dealer will charge you, though you may be able to negotiate the charge down to 1% (or less, depending on how much margin they are making on the car itself).
Either way, much cheaper than paying a BT charge unleess you want the certainty of 36 months rather than 18.
looke_o
15 Feb 15#158
how long did it take to get declined / approved?
Matty8787 to looke_o
15 Feb 15#160
Well I applied and I got this:
Unfortunately, we're currently experiencing some technical issues with our application form. Please accept our apologies whilst we try and resolve this issue.
Rest assured we have your details and will be in touch within the next 5 working days.
That to me means declined usually but we shall see.
FlexR
15 Feb 15#155
I wonder if i will get accepted coming from **** Aqua (although I did build my credit rating up with them but the interest rate is 39.9%)
lanc1979 to FlexR
15 Feb 15#159
There is a BarclayCard Initial which has a 0% period and intended for those with poor credit if this helps?
You'd need a fairly good credit rating to get the full 3 years at 0% here, I'd have thought?
lanc1979
15 Feb 15#157
IceSave went bust, not Kaupthing Edge which was bought by Ing Direct (who honoured the original interest) - thankfully as I had a large amount with them...
garyobargains
15 Feb 15#156
I was declined.
Askrulous
15 Feb 15#154
exactly....like 7.7% interest with kaupthing edge, nice little earner that one till it went bust, lol
dodgymix
15 Feb 151#153
Not like the old days when oyu could get 3 years interest free and bang it in an 5.5% ISA
fishmaster
15 Feb 15#152
No one's advocating sponging, the people taking up this deal will be working, this deal is about making things work to your advantage and not against them. Risk is part of life, you deem this an unacceptable risk, I don't. Whether you think it's good or bad it's none of my business.
donslibi
15 Feb 15#151
My mortgage is my only debt, and it's a very modest one at that as I have chosen to live within my means rather than to sponge of others and hope that when I die, all my past failings will be erased.
donslibi
15 Feb 15#150
Some of you are missing the point here. The bigger picture is really quite simple - using up your future credit before you've earned it and then creating a wealth of complex transactions in order to minimise how much you are paying for that 'privilege' only puts you at further risk when things go wrong. Too many people have been caught out in the past and yet we forget and get tempted by the available 'opportunities' to yet again live outside of our means. Some are very good at managing their money and can resist falling in to difficult situations, but some can't. If my words fall on deaf ears then so be it, but even if only one person listens and understands then I would be glad for them.
proofoflife
15 Feb 15#149
Heat added!!!
fattyuk
15 Feb 15#148
most of the people who jump on there high horse about getting into debt are probalay upto there neck in it!
or dont have a penny to there name so sadly are slightly jealous
fishmaster
15 Feb 151#147
Exactly this is not about taking up a debt you can't afford, this is a way of managing existing debt and reducing the amount paid back or even for making some money.
Martinwmg
15 Feb 15#141
May I just apply for this card for cashback and don't use it at all?
WillieGophar to Martinwmg
15 Feb 15#146
It depends on the cashback Ts & Cs, so read those VERY carefully to see whether you do or don't need to 'use' the card to actually get the cashback.
ASH12
15 Feb 15#145
Comment
Totally agree! Good financial planning in my view - why use your own money when you can borrow it for nothing (apart from the small fee do course).
srthedaddy
15 Feb 15#144
I already have a Barclay Platinum card, can I open a new Barclay Platinum account and transfer the balance?
andreagraham586
15 Feb 15#143
I already have a Barclaycard and although I pay £75 a month only about £30 comes off the bill, I transferred some balance to a tesco card for 1 year with no interest,
Could I get this new card, transfer the money owed on the tesco card to this new one then transfer the remaining old barclaycard to tesco then transfer that also to the new barclaycard?
Thanks
TheLazyOne2
15 Feb 153#142
Why do you assume you are putting yourself in debt? People use 0% credit cards who have plenty of money in other vehicles (ISAs, Equities, property) which would cover the purchase. Why would they take the money out of those to buy something (i.e. a car) that is not going to generate interest when they can spread those payments on a 0% card?
Don't assume everyone is using credit cards to fund purchases they couldn't otherwise afford.
mrdanphillips
14 Feb 15#4
only have one credit card and always pay the balance every month. can someone be kind enough to explain how i can make use of this instead of a loan. thank you in advance
mrsuave to mrdanphillips
14 Feb 15#11
Buy loads on ur existing credit card them transfer that balance on to the Barclaycard.
In your case you I advice you to start with a 0% on Purchases CC, and move all your cash spending to it such as food, insurance, fuel, even council tax with free of charge, so you end up having the cash untouched and left in your bank from your income without the need to pay interest for any cash loan. When the 0% term end, you can shift the balance to a Balance Transfer CC like this one. But remember, you still need to pay monthly of at least minimum payment and not spend over your credit limit to keep your 0% offer, so a direct debit for the minimum is advisable. And one more thing, spend the spare cash left in your bank account wisely. If you really want this card, you can transfer the balance on your existing card (before you pay it in full) and keep spending on it, you have 90 days to transfer all your spending on your existing CC to this Barclaycard if successful.
rag1973 to mrdanphillips
15 Feb 151#132
Hi, it's cheaper than any loan but you have to be careful with not missing any payment.
Since its a balance transfer deal, it means you have to make the purchase on a different credit card before transferring to this card. For example, let's say you want to buy a car for £5,000. You would make this purchase on one of your other cards (assuming you have another and the credit limit allows), and then you would call Barclaycard (once you've applied for and accepted for the card), to make your £5,000 transfer to their card. Again, this is assuming your credit limit on the Barclaycard covers this transfer. The best way to ensure this is at the time of applying for the card, to ask for the highest amount to transfer, in this case say £6,000
Once your application is successful, Barclaycard will pay the £5,000 owing on your other card and you will now owe Barclaycard the £5K plus handling fee of 2.99% of the £5,000.
My advice is to setup a monthly direct debit equivalent to the total amount divided by number of months to pay over. You should set this to leave your account 3-4 days before your payment date to allow for bank holidays, etc. This, I find, is the most effective way of not losing your 0% interest. Otherwise, once you miss a payment, Internet charged will revert back to the standard which could be up to 21.9%
Hope this helps.
Ronski007 to mrdanphillips
15 Feb 151#139
When we changed our kitchen I purchased everything on one credit card and then transferred it to the interest free credit card. Ended up with about 5k on the interest free card. What I would of used to pay off the credit cards I paid off the mortgage. I reduced my mortgage for x months/years saving interest, when the free period was almost up I either transferred to another card, or when interest rates dropped so low to make it not worth the hassle I simply drew down what I needed from the mortgage and paid off the cards.
You must make sure you make the minimum payment every month - set up a direct. Also make sure the full balance is paid off prior to the end of the interest free period. Do not spend anything on balance transfer cards - you have to watch which debt takes priority when you make payments, otherwise you can get caught out.
There is masses of info on Money Saving Expert website about this, so do your research first.
fattyuk
15 Feb 151#137
anyone else or just santander?
i dont like santander there customer service is rubbish
dodgymix
15 Feb 15#136
15m was last one I saw. Santander is 15m interest free no fee. The Santander 123 is 24m int free no fee but presume you need a 123 account
fattyuk
15 Feb 15#135
Can you show me a FEE FREE and 0% balance transfer credit card please??
oh and minimum of 24months
am interested as just about to do a balance transfer to mbna for 30 months
dodgymix
15 Feb 15#134
2.99?? Fee after initiation 3.5% fee with 0.5% add back eventually...Whys this a deal...???? Would be better getting a fee free one and switching after interest free period?? Acknowledging you won't get as long a term.. Never know in 12/18m there may be even better deals
coony
15 Feb 15#131
You can't take up any interest free offers, but you can certainly transfer balances and you may also have to pay a fee.
fattyuk
15 Feb 152#130
guess what...
you can have more than 1 barclaycard
stuarthanley
15 Feb 15#129
Yes. I do believe that we have established this quite a few times already.
doitallovermyface
15 Feb 151#128
Really I have this, a Barclaycard amex and visa cash back card
stuarthanley
15 Feb 15#127
Shame you can't balance transfer between barclaycards. You'd never pay any interest at all.
fattyuk
15 Feb 15#126
You cant transfer a barclaycard to a barclaycard?
fattyuk
15 Feb 15#125
Yes they will i have a normal barclaycard (£7000 limit ) and a platinum (£16000 limit)
gwapenut
15 Feb 15#124
Thanks for quantifying, I was too lazy to put figures down but I was pretty sure well under half would remain in the stoozpot by the end of the 3 year period. Hard facts are far better than gut estimates though!
gwapenut
15 Feb 152#115
Beware their minimum repayments, often 2.5% instead of 1% elsewhere. You'd be amazed how much of the stoozable balance will be paid back over a 3 year period, making it less profitable if stoozing, rather than sensible debt and cashflow management, is the intention
lanc1979 to gwapenut
15 Feb 152#123
Thanks for this - it makes a huge difference.
Worked example for anyone interested:
I'm shifting £5000 in balance transfer - I pay a 2.99% fee (£150), and keep £5000 off my mortgage at 2.5% pa (£375 over term + capital repayment gains).
But paying 2.5% minimum per month (£125 initially), means that after 36 months, the balance will be lowered by around (£2990 rough calc), leaving only £2010 interest free for the whole period.
Paying 1% minimum per month (£50 initially), means that after 36 months, the balance will only be lowered by around (£1517 rough calc), leaving a greater £3482 interest free for the whole period.
Hope this helps - big difference between 2.5% minimum and 1% minimum!
coony
15 Feb 151#122
Yes they will, I've got three different barclaycards and the last one was promoted to transfer my balance from an existing one to this new one.
newmacgeek
15 Feb 15#121
perfect deal for me, had a small balance on a amex after a divorce. don't have the funds to pay off in one lump sum, but spreading over 6 months saving VS the interest rate on the amex even considering the transfer fee.
my only concern is just how big of a credit limit they gave me, over £7K as a new customer? I have the sense and control to reduce that limit but a real eye opener.
bcwc
15 Feb 15#120
Yes, Quantitative Easing, but doesn't apply to credit cards lol.
herby247
15 Feb 152#110
FFS really people.
This is a balance transfer offer if you currently have a balance on another credit card with a high Apr transfer to this for 0% for 3 years for a fee.
If you can't or don't understand that, then you do not deserve the responsibility of having a credit card.
hursty321 to herby247
15 Feb 151#119
Comment
Agree. It's scary how many posters have little knowledge how credit
Cards work. No wonder the nation is in so much debt with no clue how to repay
hursty321
15 Feb 15#118
Comment
Banks actually do make money out of thin air. Look it up.
tnpmonkey
15 Feb 15#88
It's like everything though, if you have money to afford the interest payments then you don't pay interest. if you are poor and 9% would make a massive difference, you can't get it and pay more. Shows how the rich still run everything
bcwc to tnpmonkey
15 Feb 15#117
If it wasn't for the "rich" then the "poor" (to use your terminology) would not be able to get credit at all! Do you think that Barclaycard just magic money out of thin air to give out as credit?
The people that can afford to pay the entire balance each month only use a credit card because it is zero interest. If credit card companies did charge them interest, lots of them simply wouldn't use one. This would force the credit card companies to charge an even higher interest rate, to make up for the lost revenue from merchant transactions.
So the "rich" have kept the interest rate low for the "poor".
You were saying?
DEALS4EVA
15 Feb 15#116
I think the cold voters (and there are a lot) don't seem to have a clue what this is.
ianc1990
15 Feb 15#114
I just used this - basically open a money transfer card with MBNA and you'll pay the 1.94% fee as a one off on the total borrowed amount, and you have 2 years to pay off the card (but ensure you pay at least the minimum every month)
They transfer cash into your account so you can pay off your overdraft - just ensure it pays to do so (so you must pay more than 1.94% of the total in fees over the 2 years) and make sure you have the funds to pay it off in time, and no use your overdraft again!
scoobytawazara
15 Feb 15#113
hi we have an overdraft with nat west an is very costly can I tranfer money from bank overdraft to this sort of card many thanks to those knowledgeable people out there
ianc1990
15 Feb 151#112
Well, I ended up opening an MBNA money transfer card with 2 years at 0% (just a one off 1.94% fee) and did a money transfer of hard cash into my bank account - instantly accepted for £10k - this shaves 18 months off my car finance, and £1.3k in interest!
Go HUKD - this post saved me so much money just by teaching me new things!
littleterror
15 Feb 15#111
Don't forget to go through Compare the Market first to claim your Meerkat, then open a new tab and complete the application through TCB :wink:
jjav
15 Feb 15#108
more banking scams to pull people in to a never ending spiral of living a lie and creating misery. however excellent deal if you can use them but very few have the power to do that.
ianc1990
15 Feb 15#82
Can someone tell me if this card helps me?
Basically, I have 9k outstanding on a hire purchase car loan. Around 9% APR on this.
To pay the loan, I'm assuming they only accept debit cards (I could be wrong) so how could I use this card? Also, is 9k an achievable credit limit? My credit rating is excellent, and I guess even paying off 50% of the car loan would save me a bunch of interest (around £1k on top of that 9k is interest over the next 2 years)
Thanks
danby22 to ianc1990
15 Feb 15#96
If there are any restrictions with the lender accepting credit cards you might not be able to put this to use directly. Barclaycard do provide money transfers to bank accounts at a slightly higher rate (but will be like less than half of what you are paying to your lender currently). Can't see anything that states this will also be available, but worth having a word with them on whether they will make it available for you before applying and they'd probably want you as a customer as you have a genuine debt that you are trying to consolidate. This might work well cheaper than what you are paying currently.
Achieving 9k was quite possible with MBNA and Virgin in the past. Barclaycard haven't been that generous to me at the start and I try to reduce the unnecessary limits made available to me actively, as having access to greater limits is also something that can work against you while credit checks are performed on new applications.
ianc1990 to ianc1990
15 Feb 15#107
Called Barclaycard - they do not do money transfers on this particular card - only balance transfers.
fishmaster
15 Feb 151#106
It's not wrong as that's how they do work. Whether I want them to work like that or not or anyone else does is immaterial. This is a Capitalist society, it's not a case of ok let's all play nice and make money nicely and all be friends. Human nature is to want and make money, that's not wrong, but at times it does venture in to corruption.
This society and human nature favours the wealthy, the strongest, the poor get a bad deal, there's samaritans out there on the side of the poor. It will take a global shift in thinking to change any of this. Relationships more often than not are built on the confidence and power of wealth, the richer you are the easier is it to get what you want. The human race is always evolving maybe we'll find a way out of corruption and greed, at the moment though we're right in the thick of it, and it won't be changing anytime soon. Everyone today in my opinion should stop and look at their life and assess their financial situation and ask themselves what value can I give to the world so that I can be wealthy myself. I don't mean by corrupt means such as selling drugs or by various other means of criminal activity, as that's cheating and it's not a long term strategy for wealth as most get caught in the end.
It is not wrong to be rich, it is your goal. Give real value and you will be rewarded. There's never been a better time in the whole of human existence. Embrace it.
lukeyboi89
15 Feb 15#100
Can someone explain how this would work for those mentioning a car loan?
E.g if I got a loan for 10k at 4.0% interest over 2 years from the bank. How would I use this card to make it cheaper?
Or would I just purchase the car from this card and pay it off over the 3 years?
And how much would it cost in total including any admin fees etc.
Thanks
Sorry for the double post, stupid mobile app!
toonarmani to lukeyboi89
15 Feb 15#105
In theory you would spend £x on another card and transfer across to this one to benefit from the 0% rate over 3 years. It wouldn't work for a loan, only card balance transfers.
ianc1990
15 Feb 15#104
Thanks for your reply. I'll check on that money transfer aspect! If the HP company do take CC, I assume I would first pay it off (or part of it) on another card, then transfer it into this one? That may be tricky as I never really use CCs and so I specifically asked for a low credit limit on the 2 I have (Natwest for points and Halifax for cheap travel money)
Thanks
donslibi
15 Feb 152#103
Wrong, this is the way we have been conditioned to think that banks should work. Another collapse is round the corner in years to come, but this time even the government wont be able to bail us all out as they have been doing the same and more and are now unable to clear their own debt. A portion of our taxes goes to paying interest on the money the government has borrowed but cannot yet repay.
donslibi
15 Feb 15#102
And that's the right way to use it, so do I.
lukeyboi89
15 Feb 15#101
Also, using the above theory, would it be applicable to generating a deposit for a mortgage to get a lower mortgage interest rate using a higher deposit percentage?
Thanks again
lukeyboi89
15 Feb 15#99
Can someone explain how this would work for those mentioning a car loan?
E.g if I got a loan for 10k at 4.0% interest over 2 years from
Same here.. Could be a big difference with the interest rates as well, if you can break through the barrier from say 65% to 60% or the likes.
stuarthanley
14 Feb 15#20
I believe you can have more than one Barclaycard if you had an original Barclaycard and a credit card from a company that Barclaycard have now purchased such as Egg but i don't think you can have a Barclaycard and then be granted a further Barclaycard. I may be wrong but I know MBNA won't allow it.
rhinopaul to stuarthanley
14 Feb 15#24
In theory this should be true but I also have a few Barclaycards & other multiple cards.I had near 20 cards at one point ( nothing to be proud of) a lot with the same organisation.Shows that they dont really do their checks.
y_am_I_buying_this to stuarthanley
15 Feb 15#87
nope i have 2 original barclaycards
1nnocence to stuarthanley
15 Feb 15#93
I have two mbna cards both with balance transfers offers, admittedly though the second card they gave did have lower credit limit
stamfordblue
15 Feb 15#90
Useful for those with temporary financial problems, or those that can't manage their money.
Heated
lanc1979 to stamfordblue
15 Feb 152#92
or those who do manage their money.
I use stoozing to lower my mortgage. Carrying 15k on 3 cards at the moment at 0%.
CherEll85
15 Feb 15#91
I went for this deal and it was so straightforward! I'm going to save loads!!
tnpmonkey
15 Feb 15#89
yourmam84
15 Feb 15#86
Comment
I think he was referring to people who spend money they don't have yet without thinking about the consequences. Your way of doing things works very well as long as you're disciplined
angelamorey9
15 Feb 15#85
Excellent deal for the right person with the right discipline.
imcconvey
15 Feb 15#84
Got this two weeks ago and it will save me a good bit of cash. Used credit cards to buy the stuff for my first house.
rdbradshaw
15 Feb 15#83
I had a barclaycard that I payed off and cancelled last year . Would I still be eligible for cash back if I went for this card ? Or would I have to wait at least 1 or 2 years
donslibi
15 Feb 15#78
That to me, is ethically wrong. It basically means that you are investing money that is not yours in order to make a profit and you are purposefully putting yourself in debt even if for a relatively short period of time. With financial transactions we have to move away from selfish gains and look at the bigger picture. Until then, its all one big mess largely based on funny money.
firstofficer
15 Feb 15#77
The heavy fee on this, makes it not such a great deal...
COLD.
reesycer
14 Feb 152#76
the uk's hottest deal...
a credit card.
says it all
looke_o
14 Feb 15#75
applied for this to pay off £1700 capital one debt. let's see.
ws007
14 Feb 151#74
have you ever thought the worlds so **** cos previous generations have lived like that ?
dodoegg1
14 Feb 15#71
Is there an annual fee or is this free?
Also can anybody recommend a free master card with any kind of cashback or rewards?
Oggieteepo
14 Feb 15#70
It says new customers only, anyone know if that's accurate/checked?
MITTY121
14 Feb 15#69
Worth it for the cashback alone regardless of opinions on the card :smiley:
optimus primer
14 Feb 15#68
Thanks OP I didn't get the 3 year but did get 18 months 0% and it will be a great way to get my credit card cleared off.
Downfall
14 Feb 15#67
Took up this option when it was 35 months.
Recommended!
Although I keep using it instead of my Oyster card because laziness.
blimpo
14 Feb 15#52
Not looking for a balance transfer, but looking to get a good credit card for spending since I'm now financially able to use one. Is this a good deal for a credit card itself with it's 6 month 0% interest, or are there better ones (I'll be paying mine off within a month anyway)?
Thanks in advance!
Heat Sink to blimpo
14 Feb 15#66
if you are paying off within a month then look for a credit card that will give you cashback for spending money, this deal is good for people who are in debt.
yourmam84
14 Feb 15#65
Comment
...and what if tomorrow DOES come? It's all well and good preaching Carpe Diem, but it doesn't mean go out and blow a load of cash on sh!!t you don't need!
detox1978
14 Feb 15#63
I had one and signed up for a second in Decemeber.
rox78
14 Feb 15#62
Ah okay so not your choice then. Nat West huh they are tricky ones
Thomablue
14 Feb 151#61
I don't decide,I use my NatWest card,but thanks for asking.
rox78
14 Feb 151#60
Highest interest rate 1st.
jeves
14 Feb 15#58
I complained to Barclaycard and got nowhere. I should have taken it further but I didn't realise they had marked my credit history until I applied for a loan a few months later with another bank. They said they wouldn't give me the advertised interest rate as I had a late payment recorded by Barclaycard. I seem to attract credit card issues. I once had a payment refunded on an egg card but i had already paid the statement. So I ended up in credit of £200. So I used a cash point to draw it out. They charged me for cash advance.
msaquib
14 Feb 15#57
I have Barclaycard cashback Visa/Amex - Been using it for all my shopping etc and pays it off in full by DD. How easy it is to apply for existing customers or will treat it as a complete new application regardless of existing relationship?
rox78
14 Feb 152#55
Wow that's wonderful 5 Barclaycards. You are truly blessed. And they put the limits up as well. How do you decide which one to use? Just brilliant
scottydoobuy
14 Feb 15#54
They will i had 4 at one point :stuck_out_tongue:
bojangles
14 Feb 152#53
Exactly this. Threaten to report them to Financial Ombudsman.
I had an issue a long time ago with Capital One, where I constantly received my statements saying my due date & amount owed after my due date, so I was getting late payment charges because of it. I stopped paying the card in the end & CapitalOne black marked me.
I complained to the Ombudsman & got the debt wiped out & a gesture of goodwill payment as well as negative marks removed.
COLD
14 Feb 15#51
Is there a max transfer fee? It would make a good car loan...
BigTallRob
14 Feb 151#26
One thing to note with this is that if you ever miss a payment, not only will you be charged the £12 Late Payment fee, but your 0% term will end. Leaving you with whatever rate they provided you with (you could be given a higher rate than quoted as it is subject to status etc)
Other providers do not do this if you miss a payment, so I would say to consider this aswell. You can easily set up a DD with Barclays, but just make sure you've got the money there to cover it! haha
Skol to BigTallRob
14 Feb 15#50
Other providers do do that.
I know someone who had exactly that issue with Halifax.
Thomablue
14 Feb 15#49
It may well be more difficult now, but I have 5 Barclaycards and they' ve just put the limit up on 2 because I do not use t.hem.
Ashamuk
14 Feb 15#48
wow hot
Geldof84
14 Feb 15#47
I think I'd be bored with a balance transfer for this amount of period.
jeves
14 Feb 15#43
Beware of their direct debit set up. I took out a card and although my online account showed I was paying by direct debit, they hadn't set it up and they took 6 weeks before it was in place. This resulted in my first payment being missed and they revoked all deals with the card. So I cancelled it. This was the only payment I had ever missed in 20 years of credit cards and loans. They even recorded it against my credit history. They would not remove it and said it can take upto 6 weeks to set up a direct debit.
kneale81 to jeves
14 Feb 15#45
You should have complained, they would have definitely removed the adverse mark from your credit file and also reinstated the balance transfer offer.
TheOak
14 Feb 15#36
Could someone tell me if there is anything to stop you taking out a bunch of money on one card, putting it in an ISA/savings account, then transferring to this card.
If not, is there a max balance transfer?
sunflowerD to TheOak
14 Feb 15#42
yes, for one they charge interest on cash withdrawals and transfers from the credit card to a bank.
Dodge62 to TheOak
14 Feb 151#44
Most cards will charge you a fee - typically 1.5% - to take out cash. Then you've got the 3% transfer fee. So that's 4.5%. With savings accounts paying about 1.25% (if you're lucky) you're not going to make that back within the 3 year period. Of course you could probably find some teaser rates of 2% or so for a year, but after shuffling your money around for three years, you're not exactly going to make a fortune.
Betabet
14 Feb 15#40
I've got four....just sayingoO
Raimonds
14 Feb 15#38
Very generous offer for getting out of debt!
cambourne03
14 Feb 15#35
As I always say live for today as tomorrow may never come. Enjoy yourself now as life is to short.
DarrylJohn
14 Feb 15#31
This comes with £31.50 topcashback.... Don't forget.
DEALS4EVA to DarrylJohn
14 Feb 151#34
Cool! You can edit the thread to say that, thanks!
TiptreeJam
14 Feb 151#32
Great offer. I took up a similar offer from BC last year as a cheap loan. As has been said set up a direct debit for the minimum amount so you do not miss a payment and top up with however much you want to pay off each month. If you miss a payment they start charging interest. Also check the t&c for the 6 month interest free shopping. I got caught once where the shopping balance wasn't actually paid off until the longer term interest free part was paid off. So I ended up paying interest on the shopping balance after the 6 months until I paid off the larger interest free balance. They may have stopped doing that now. Heat added.
OrribleHarry
14 Feb 15#30
I know it won't but hopefully they will ask why and give me the deal or if they don't I can apply as new customer and get the deal!
Not sure what for mind maybe buy a car or holiday or something else I don't actually need lol
OrribleHarry
14 Feb 151#28
I have had a Barclaycard for ~ 10years it has had no balance on it for quite a few years, I have never been offered a deal like this I'm gonna ring and close it out of protest!
Ribs85 to OrribleHarry
14 Feb 151#29
that'll learn 'em!
stuarthanley
14 Feb 15#25
That's just mental. Why would they allow you 2 cards? Surely they should just extend your credit limit! (I suppose its more debt they can recover but its irresponsible on their part)
kneale81
14 Feb 15#23
Wouldn't it be better to go for the 35 month one has the fee is only 2.49% suppose it depends how much is owing.
kneale81
14 Feb 15#22
Comment
Oh yes they will, as long as you pass their prerequisite score in the application and you've been running your first account well :wink:
rachelkajese
14 Feb 15#21
just got this card !
msharif911
14 Feb 15#19
You're right. I have 3.
stuarthanley
14 Feb 15#18
You have 4 Barclay credit cards??
gyro85
14 Feb 151#16
Great deal if you need a cheap loan and disciplined, I did it on the 33 month deal and had been great
stevelo1973
14 Feb 151#15
about 4?????? you don't know how many credit cards you have??? 0.0
dazzer1975
14 Feb 152#14
yawn, yes it does, for proof, read the post immediately preceding yours
TomBoyNI
14 Feb 15#13
Comment
Yes the will. I have a rewards card and this card
mrsuave
14 Feb 15#10
Why? I have about 4...
JohnnyUtah
14 Feb 15#1
I know I can't transfer a balance from an existing Barclaycard credit card but can I apply for this card and be accepted so I can transfer another balance I have from a Nationwide card which has finished it's interest free period?
rhinopaul to JohnnyUtah
14 Feb 151#3
As long as the Nationwide isnt part of the same group as Barclaycard, ie you cant transfer from an MBNA card to another MBNA card.
y_am_I_buying_this to JohnnyUtah
14 Feb 151#6
yes you can apply for a second as tes you can transfer from nationwide.
mrsuave to JohnnyUtah
14 Feb 151#9
Yrs
y_am_I_buying_this
14 Feb 152#5
errrr yes they will. i have 2.
flang
14 Feb 15#2
Just reading about this on the daily mail and sounds good.
![Fresh Breakfast Meat Box (Using code) @ Campbells Meat [Haggis / Lorne Sausage / Bacon / Black Pudding & More]](/images/topics/208684_1.jpg)
![[Xbox One] Q. u. b. e: Director's Cut on Deals with Gold](/images/topics/208716_1.jpg)
Opening post
Looking for a card that could help you regain control of your credit card balances? With 0% interest on balance transfers for 3 years, our Platinum balance transfer offer could help you make considerable savings over a year. With Platinum you can enjoy:
0% interest on balance transfers for 3 years from account opening (2.99% fee applies. We’ll first apply a 3.5% fee but then reduce this to 2.99% by a refund – terms and conditions apply)
0% interest on purchases for six months from account opening
Contactless payments so you can use your card to make quick and easy purchases of £20 and under
A way to pay with your mobile – you can request a Barclaycard PayTag, a handy sticker that turns your mobile into an easy way to pay
mybarclaycard online servicing – your account, your way – to help make staying on top of your account that bit easier, you'll receive your monthly statements online through mybarclaycard. So we need your email address to send you an alert to let you know when your latest statement is ready to view. If you'd prefer to receive a copy of your statement by post, you can change this as a preference in mybarclaycard when you register
NO CASHBACK AVAILABLE FOR THIS DEAL. You can receive cashback for the 35m Balance Transfer card but NOT this 36 month.
Top comments
Step 1 is stop borrowing at every opportunity.
Don't assume everyone is using credit cards to fund purchases they couldn't otherwise afford.
Latest comments (268)
2 months ago I lost my job, but thankfully I've just found a new one, I was going to get a loan out to sort out the credit card debits I had amounted while out of work but this seems to be a much cheaper way of sorting it out.
Do they really give you 6k bones free for 3 years, which you can just transfer to another card after 3 years?
I don't know if this deal qualifies but they do do their best. I have used the process several times. Once I had a cashback declined and then declined again for the same transaction; they managed to sort it out for me and the third time I got it!
Be aware that you are looking at a likely wait of months and there are no guarantees.
Unfortunately, we're currently experiencing some technical issues with our application form. Please accept our apologies whilst we try and resolve this issue.
However, rest assured, we have your application details logged on our system and we'll be in touch within the next 5 working days.
just shows that checker thing is pants as it said excellent chance
I know it's not 5 working days yet, but everyone else on here seems to have had a quick turnaround (texts and whatnot) so I'm a bit worried now!!
really fast turnaround for this card. applied yesterday. card already on the way according to the text.
I'm considering applying for this card as well but have been in financial trouble with Barclaycard whilst at university.
My credit has improved since then though not perfect and I have also stayed out of debt.
Does anyone know what might happen if I applied for this card.. other than the possibility of being declined?
I'm not bothered about being declined but just don't want to reopen any old wounds, even though it has been way over 6 years (statute).
Just wondering if anyone has any input on this.
I also tried Martin Lewis' link which did a soft search on my credit file and they basically gave me the green light to apply for it
Thanks in Advance
I have a barclaycard already but not the Platinum so 1st I'm guessing I won't be able to transfer from my card to this new one. 2nd can I still have this card as it's a Platinum & transfer anything from other cards ie. Tescos or Capital ONE.
Could you use this to knock off some money from a car loan (transfering the balance to another bank)?
:confused:
Fair play to them and their systems for being on the ball.
When I try to lodge the claim , its there the name: Barclaycard 35 months , but below it has no date of the trace being done.
Don't know what happened?
When the 0% offer ends, we transfered the balance to another 0% BT CC, in a very short time, we managed to save 25% deposit for a good mortgage rate at the time. However, I doubt that this is still possible after the new mortgage affordablity rules which was introduced last April, as banks and building societies nowadays look at all CCs as high risk even if they were all on 0% offers and even if you have some spare cash to pay in full incase your BT CC application was rejected. We keep our cash in 5% paid interest bank account such as Nationwide (up to £2500 for 1 year) or 4% like Lloyds Club (up to £5000), or Santender 123 (up to £20,000 3%), all taxed of course, but still much better than the best current ISA deals and much higher return than the BT fees of 3% for 3 years (1% per year) in this Barclaycard for example, but you can find a cheaper BT fees on MSE website such as Santender which offers 0% BT CC with no BT fees, but you need to have a good credit score.
But when I applied I got the server technical issue problem, although the card was accepted by text.
Is there a way we can open a ticket via tcb for this?
http://www.quidco.com/barclaycard-platinum-35m-balance-transfer/
I got this when it was 0% at 35 months last year! Got me out of a sticky situation!
Thanks OP may it help others as well! :smiley:
Step 1 is stop borrowing at every opportunity.
That's not why I use a credit card.
I make ALL of my monthly purchases on credit card (apart from rent and bills) as you have really good purchase protection. I then use my salary to pay off my balance every month. It helps my credit rating and allows me to be flexible in my spending.
If you see a deal on here that is too good to miss, and you don't have the available funds at the time the deal is posted, then a credit card is a really handy way of taking advantage, plus the added bonus of purchase protection for goods over £100. I personally have funds to pay my £2000 debt with a sainsburys credit card, but paying around £200pm with 0% is more appealing to me, so then I have cash available for other things.....
If a credit card is used properly, you'll actually save money on purchase over time than those using cash or debit cards only.
Rob
It's how the world works, get over it.
I always go with lowest bt fee per month of deal, simple division. Maybe allow 1 month less for switching and application delays at due end. Not failed yet when taking my chances...
...Which is over 3 times the amount I actually need. Needless to say I'll be doing my balance transfer and cutting this card up once it arrives.
Thanks
<
That said, I agree it is cleaner to get a separate card for purchases, unless the purchases and BT 0% periods end within 1 month or so of each other.
For the 6% loan, you would pay about 5.2% of the amount in interest in year 1, and then similar (but smaller) amounts in years 2 and 3.
For the credit card, you would pay 3% of the amount in year 1, and then nothing for years 2 and 3.
Even if you heavily skewed it by suggesting you pay back the loan evenly and the credit card at 2.5% per month, you still end up paying about 5% on the loan in the first year.
So you are quids in after the first year, and laughing year on year after that. Until year 4 where you pay back a small fortune unless you re-stooze!
A rotten practice.
Advertising these deals as 0% should be outlawed
• 0% interest on balance transfers for 3 years from account opening (2.99% fee applies. We’ll first apply a 3.5% fee but then reduce this to 2.99% by a refund
Hey everyone want to borrow £1000 for free. That's ok ill charge you a £1001 admin fee.
Anyone who's had a credit card before should know this tbh. And if you don't, you shouldn't be allowed one.
If you borrow £1000 at 6% per annum and paid it off evenly over 1 year you would roughly pay 3% of your borrowed amount in interest.
If you borrow £1000 at 3% transfer fee and paid it evenly off over the year you would pay 3% on your borrowed amount.
My point is that you should always take into account that the transfer fee is a higher cost than it might appear to be versus other forms of borrowing.
instantly got a code to use to login online and see the credit limit instantly!
Nothing about getting a different deal, no emails, just a login and I setup so I can login anytime from now on.
They must have had lots of applications at once and taken system offline to deal with manually but are not doing things in order.
Will see what comes in the post if I don't like their terms (as in if I get offered a shorter repayment time frame 0% or smaller amount to transfer I will just reject)
I would have expected an email or a courtesy call!
Received a text last night saying your card is on its way...
No idea of credit limit, no idea of balance transfer period, rates, etc.
Other tip - maximise the deposit where you can, within reason. They're often happy to absorb the fees on this bit.
And of those people who say tomorrow may never come, are you really spending today as if it was your last? Are you seeing the wonders of the world, doing once in a lifetime activities? Or are you still going to work, still watching East Enders, etc.
http://www.which.co.uk/news/2011/01/new-rules-to-speed-up-payment-of-credit-card-debts-240548/
You could use the eligibility tracker tool on the MSE website to see how likely you are to be accepted for the card - http://www.moneysavingexpert.com/loans/cut-loan-overdraft-costs#MBNA .
If your credit rating isn't very good it might be advisable not to apply as a rejection will just make it worse and leave a negative record on your file.
If you applied for a barclaycard last year... surely you can't reapply for this 2nd one to use the offer?
I'm now paying enough to finish paying at month 19.
Saved me paying interest to the finance company
I considered doing the same to benefit from leaving my some of my savings untouched, but the government has ensured interest on my savings are so derisory it really wasn't worth the effort!!
Assuming:
the car (lets call it a Suzuki Jimmy '07 reg :wink: ) cost £5,000
you make min bal pymts for 32 month of £25
you set aside £130 in a 5% account (may need multiple accounts e.g. Lloyds, TSB, Yorkshire Bank, Nationwide)
You'd earn £230 ish after tax
Assuming balance transfer rate of 2.99% = £150 charge on £5,000
Therefore profit = £80 + £31.50(TCB) = £111.50
Which if you ask me....
....isn't worth all the hassle
(And that's coming from the man who's been there and got the t-shirt)
What you could do, with a bit of planning, is get approved for this one, then do literally all your spending on another credit card (presuming you have one, and it can't be a Barclaycard), transfer that to this card (within the time limit) and pay off your overdraft with whatever you would have spent.
I wonder if Donslibi also pays his council tax in full on 5th April each year and his Gas / electric / water upfront.. all debt if not
At least with the reward points you can offset some of the handling charge the dealer will charge you, though you may be able to negotiate the charge down to 1% (or less, depending on how much margin they are making on the car itself).
Either way, much cheaper than paying a BT charge unleess you want the certainty of 36 months rather than 18.
Unfortunately, we're currently experiencing some technical issues with our application form. Please accept our apologies whilst we try and resolve this issue.
Rest assured we have your details and will be in touch within the next 5 working days.
That to me means declined usually but we shall see.
You'd need a fairly good credit rating to get the full 3 years at 0% here, I'd have thought?
or dont have a penny to there name so sadly are slightly jealous
Totally agree! Good financial planning in my view - why use your own money when you can borrow it for nothing (apart from the small fee do course).
Could I get this new card, transfer the money owed on the tesco card to this new one then transfer the remaining old barclaycard to tesco then transfer that also to the new barclaycard?
Thanks
Don't assume everyone is using credit cards to fund purchases they couldn't otherwise afford.
Since its a balance transfer deal, it means you have to make the purchase on a different credit card before transferring to this card. For example, let's say you want to buy a car for £5,000. You would make this purchase on one of your other cards (assuming you have another and the credit limit allows), and then you would call Barclaycard (once you've applied for and accepted for the card), to make your £5,000 transfer to their card. Again, this is assuming your credit limit on the Barclaycard covers this transfer. The best way to ensure this is at the time of applying for the card, to ask for the highest amount to transfer, in this case say £6,000
Once your application is successful, Barclaycard will pay the £5,000 owing on your other card and you will now owe Barclaycard the £5K plus handling fee of 2.99% of the £5,000.
My advice is to setup a monthly direct debit equivalent to the total amount divided by number of months to pay over. You should set this to leave your account 3-4 days before your payment date to allow for bank holidays, etc. This, I find, is the most effective way of not losing your 0% interest. Otherwise, once you miss a payment, Internet charged will revert back to the standard which could be up to 21.9%
Hope this helps.
You must make sure you make the minimum payment every month - set up a direct. Also make sure the full balance is paid off prior to the end of the interest free period. Do not spend anything on balance transfer cards - you have to watch which debt takes priority when you make payments, otherwise you can get caught out.
There is masses of info on Money Saving Expert website about this, so do your research first.
i dont like santander there customer service is rubbish
oh and minimum of 24months
am interested as just about to do a balance transfer to mbna for 30 months
you can have more than 1 barclaycard
Worked example for anyone interested:
I'm shifting £5000 in balance transfer - I pay a 2.99% fee (£150), and keep £5000 off my mortgage at 2.5% pa (£375 over term + capital repayment gains).
But paying 2.5% minimum per month (£125 initially), means that after 36 months, the balance will be lowered by around (£2990 rough calc), leaving only £2010 interest free for the whole period.
Paying 1% minimum per month (£50 initially), means that after 36 months, the balance will only be lowered by around (£1517 rough calc), leaving a greater £3482 interest free for the whole period.
Hope this helps - big difference between 2.5% minimum and 1% minimum!
my only concern is just how big of a credit limit they gave me, over £7K as a new customer? I have the sense and control to reduce that limit but a real eye opener.
This is a balance transfer offer if you currently have a balance on another credit card with a high Apr transfer to this for 0% for 3 years for a fee.
If you can't or don't understand that, then you do not deserve the responsibility of having a credit card.
Agree. It's scary how many posters have little knowledge how credit
Cards work. No wonder the nation is in so much debt with no clue how to repay
Banks actually do make money out of thin air. Look it up.
The people that can afford to pay the entire balance each month only use a credit card because it is zero interest. If credit card companies did charge them interest, lots of them simply wouldn't use one. This would force the credit card companies to charge an even higher interest rate, to make up for the lost revenue from merchant transactions.
So the "rich" have kept the interest rate low for the "poor".
You were saying?
They transfer cash into your account so you can pay off your overdraft - just ensure it pays to do so (so you must pay more than 1.94% of the total in fees over the 2 years) and make sure you have the funds to pay it off in time, and no use your overdraft again!
Go HUKD - this post saved me so much money just by teaching me new things!
Basically, I have 9k outstanding on a hire purchase car loan. Around 9% APR on this.
To pay the loan, I'm assuming they only accept debit cards (I could be wrong) so how could I use this card? Also, is 9k an achievable credit limit? My credit rating is excellent, and I guess even paying off 50% of the car loan would save me a bunch of interest (around £1k on top of that 9k is interest over the next 2 years)
Thanks
Achieving 9k was quite possible with MBNA and Virgin in the past. Barclaycard haven't been that generous to me at the start and I try to reduce the unnecessary limits made available to me actively, as having access to greater limits is also something that can work against you while credit checks are performed on new applications.
This society and human nature favours the wealthy, the strongest, the poor get a bad deal, there's samaritans out there on the side of the poor. It will take a global shift in thinking to change any of this. Relationships more often than not are built on the confidence and power of wealth, the richer you are the easier is it to get what you want. The human race is always evolving maybe we'll find a way out of corruption and greed, at the moment though we're right in the thick of it, and it won't be changing anytime soon. Everyone today in my opinion should stop and look at their life and assess their financial situation and ask themselves what value can I give to the world so that I can be wealthy myself. I don't mean by corrupt means such as selling drugs or by various other means of criminal activity, as that's cheating and it's not a long term strategy for wealth as most get caught in the end.
It is not wrong to be rich, it is your goal. Give real value and you will be rewarded. There's never been a better time in the whole of human existence. Embrace it.
E.g if I got a loan for 10k at 4.0% interest over 2 years from the bank. How would I use this card to make it cheaper?
Or would I just purchase the car from this card and pay it off over the 3 years?
And how much would it cost in total including any admin fees etc.
Thanks
Sorry for the double post, stupid mobile app!
Thanks
Thanks again
E.g if I got a loan for 10k at 4.0% interest over 2 years from
Heated
I use stoozing to lower my mortgage. Carrying 15k on 3 cards at the moment at 0%.
I think he was referring to people who spend money they don't have yet without thinking about the consequences. Your way of doing things works very well as long as you're disciplined
COLD.
a credit card.
says it all
Also can anybody recommend a free master card with any kind of cashback or rewards?
Recommended!
Although I keep using it instead of my Oyster card because laziness.
Thanks in advance!
...and what if tomorrow DOES come? It's all well and good preaching Carpe Diem, but it doesn't mean go out and blow a load of cash on sh!!t you don't need!
I had an issue a long time ago with Capital One, where I constantly received my statements saying my due date & amount owed after my due date, so I was getting late payment charges because of it. I stopped paying the card in the end & CapitalOne black marked me.
I complained to the Ombudsman & got the debt wiped out & a gesture of goodwill payment as well as negative marks removed.
Other providers do not do this if you miss a payment, so I would say to consider this aswell. You can easily set up a DD with Barclays, but just make sure you've got the money there to cover it! haha
I know someone who had exactly that issue with Halifax.
If not, is there a max balance transfer?
Not sure what for mind maybe buy a car or holiday or something else I don't actually need lol
Oh yes they will, as long as you pass their prerequisite score in the application and you've been running your first account well :wink:
Yes the will. I have a rewards card and this card