Barclaycard launches three-year 0% balance transfer card

Record-breaking credit card with no interest to pay on debts for 36 months

Updated: 
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Barclaycard has once again launched the longest-ever 0% balance transfer credit card. This time it's offering a whopping three years with no interest to pay on transfers from other cards.

You will have to pay a balance transfer fee of 2.99% of the balance you're transferring. So, for example, if you're transferring £2,000 of debt from another card you'll pay a fee of £59.80.

If you don't pay off your balance by the end of the 0% period, you'll pay an APR (the annual combination of interest and charges) of at least 18.9%.

Here's how this new card compares.

Barclaycard versus the rest
The new Platinum 36-month card can't be beaten on interest-free period, as the table below shows, but it can be equalled.

Virgin Money has launched a three-year card too, although it has a higher balance transfer fee of 3.49%. So on a transfer of £2,000, you'll pay a fee of £69.80.
Credit card0% period on balance transfersBalance transfer feeCost of transferring £2,000 balanceRepresentative APR after 0% period ends
Barclaycard 36-Month Platinum Visa

36 months2.99%£59.8018.9%
Virgin Money Balance Transfer MasterCard

36 months3.49%£69.8018.9%
Barclaycard 35-Month Platinum Visa

35 months2.99%£59.8018.9%
Barclaycard 34-Month Platinum Visa

34 months2.74%£54.8018.9%
Halifax 34-Month Balance Transfer MasterCard

34 months2.80%£5618.9%
Tesco Bank Clubcard 34-Month Balance Transfer Credit Card

34 months2.90%£5818.9%
Lloyds Bank Platinum 34-Month Balance Transfer MasterCard

34 months3%£6018.9%
Bank of Scotland Platinum 34-Month Balance Transfer MasterCard

34 months3%£6018.9%
HSBC Credit Card

34 months3.3%£6618.9%


Compare the credit cards with the longest 0% period

However, if you want a money transfer from a credit card into your bank account, perhaps to pay off an overdraft, then the Virgin three-year is the clear winner. It offers three years of 0% interest with a fee of 4% of the amount you're transferring to your bank account.

Cheaper balance transfers
However, you could pay a smaller balance transfer fee and get up to 28 months interest free. Indeed, you can get up to 15 months at 0% with no fee of any kind to pay, as this table shows.

Credit card0% period on balance transfersBalance transfer feeFee paid on £2,000 transferRepresentative APR after 0% period ends
Santander 123 Credit Card

23 monthsNone (£24 annual fee applies, free in first year to 123 current account holders)£016.5%
Santander Credit Card

15 monthsNone£018.9%
Halifax 0% Balance Transfer Fee Offer MasterCard

13 monthsNone£018.9%
Tesco Clubcard with No Balance Transfer Fee

12 monthsNone£018.9%
Nationwide Select Low Balance Transfer Fee Credit Card*

15 months0.25%£515.9%
Nationwide Low Balance Transfer Fee Credit Card

15 months0.35%£717.9%
Post Office Platinum Credit Card

18 months0.79%£15.8017.8%
Halifax All in One Credit Card

19 months1%£2018.9%
Barclaycard Platinum 25-Month Balance Transfer Credit Card

25 months1.30%£2618.9%
Bank of Scotland Platinum Balance Transfer Credit Card

28 months1.50%£3018.9%
Halifax Platinum Balance Transfer Credit Card

28 months1.50%£3018.9%
Lloyds Bank Platinum Balance Transfer Credit Card

28 months1.50%£3018.9%

*Nationwide current account customers only

Be honest with yourself
However, while you could pay a smaller balance transfer fee by opting for a shorter 0% period, that isn't going to be much use if you still haven't paid off your debt.

Do some honest maths and work out how much time you really need to get back in the black.

Whatever you do, make sure you make the minimum repayment each month or your 0% period could well be cancelled and you'll get a black mark on your credit report.

Unfortunately the cards listed above will only be available to people with decent credit ratings.

Compare credit cards

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