Introduction & Key Benefits
If you’re searching for a credit-card deal in the UK with a long 0% introductory period, the Barclaycard Platinum product stands out. With 0% interest on purchases for up to 24 months and 0% interest on balance transfers for up to 21 months, it ticks two major boxes for savers and debt-movers. (barclaycard.co.uk)
Major benefits include:
- Long 0% purchase period: Up to 24 months with no interest on new purchases.
- 0% balance transfer offer: Up to 21 months no interest when transferring a debt in.
- No annual fee: The card carries no yearly charge, making it more cost-effective for the intro period.
- Perks and flexibility: Including access to various entertainment offers and protection features.
For someone planning to consolidate debt or simply make large purchases interest-free, this card offers strong appeal.
How It Works (Practical Explanation)
When you apply for the Barclaycard Platinum, you go through eligibility checks, credit status review and a soft-search eligibility option (to safeguard your credit score).
Once you’re approved:
- For purchases: Any new purchases you make will incur 0% interest up to 24 months from account opening. After that the standard purchase APR applies.
- For balance transfers: You must complete the transfer within the promotional period to lock in the 21-month 0% rate. A transfer fee applies.
- After the intro period ends, the representative variable APR kicks in — for example ~24.9% variable for many applicants.
- Minimum monthly repayments still apply even during the 0% period.
- The balance-transfer fee (for the offer) is 2.95% as per current offer details.
Competitor Comparison Table
| Card | 0% Purchase Period | 0% Balance Transfer Period | Balance Transfer Fee* | Post-intro APR Approx. |
|---|---|---|---|---|
| Barclaycard Platinum | 24 months | 21 months | 2.95% | ~24.9% variable |
| Virgin Money All Round | ~20 months | ~20 months | ~3.95% | ~25-26% |
| Santander Balance Transfer | ~18 months | ~18 months | ~3.5% | ~23-24% |
*Fees are indicative — always check latest T&Cs before applying.
This table shows that Barclaycard Platinum leads on intro lengths (especially for purchases) and has a comparatively low transfer fee. For those looking at long 0% terms it stands out.
Use-Case Scenario & Cost-Benefit
Imagine you have £5,000 of high-interest debt and want to transfer it. You choose Barclaycard Platinum:
- Fee: £5,000 × 2.95% = £147.50 added to the balance.
- For 21 months: no interest, so you only pay monthly principal reductions (assuming you choose to repay gradually).
- After 21 months, whatever remains will incur ~24.9% APR from that point.
Benefit: You save significant interest compared to staying on a standard ~24-30% card.
Cost: The upfront transfer fee (£147.50) and the need to repay aggressively (to avoid large interest later).
If you instead use the 24-month 0% purchase period for large purchases (say new kitchen £3,000), you avoid interest entirely for that period and only pay the principal.
The cost-benefit is clear: the longer you stay within the 0% periods and pay down principal, the greater your savings. If you revert to minimum payments only at the end of the intro period, you risk paying more interest later and being trapped. Real user feedback warns of this.
If you’d like to drill down into eligibility criteria, detailed application steps, FAQs, and hacks to maximise the deal, head over to Page 2 — we break down everything you must know before hitting “Apply”.
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