Just days left to get top balance transfer card

Updated: 
Wallet with money and a BarclaycardTime is running out to get your hands on the £30 transfer fee discount on the Barclaycard 22-Month Platinum.

There is just a few days left in May, which means the clock is ticking if you want to get your hands on the special balance transfer fee refund on the Barclaycard 22-Month Platinum balance transfer card.

When picking a balance transfer card, there are two things you need to consider: the interest-free period, and the balance transfer fee. And thanks to this promotion, the 22-Month Platinum is the top dog in both respects.


The 0% period
The name is a clue here. The Barclaycard 22-Month Platinum offers – you guessed it – 22 months interest free. That's the best part of two years before you have to worry about paying interest, meaning you can pay off your debt in far more manageable chunks.

Below are the ten cards offering the longest 0% periods on balance transfers:

Card

0% Period

HSBC Visa*

23 months

Barclaycard 22-Month Platinum

22 months

NatWest Platinum

22 months

Royal Bank of Scotland Platinum

22 months

Halifax MasterCard

22 months

Virgin Money

20 months

Nationwide Visa

20 months

Nationwide Select

20 months

MBNA Credit Card

20 months

Creation MasterCard

20 months



*existing current account holders only

Given most of us cannot get hold of the HSBC Visa, that leaves us with a choice of four to determine the top balance transfer card, given than each of them offer 22 months before paying interest on your debt.

So why is the Barclaycard 22-Month Platinum so much better than the others?


The balance transfer fee
We come to our second big consideration when picking a balance transfer card – the balance transfer fee.

When you move a balance onto your new card, you will have to pay a fee, typically around 3% of the debt you are transferring. And that's where Barclaycard's current offer knocks the socks off the others.

Until the end of May, new cardholders qualify for a £30 discount on the transfer fee (so long as they are transferring a balance of at least £2,500). And that can make a massive difference.

Let's see how the fee differs across each of the four cards offering 22 months of 0% interest, across a range of transfers.

Sum transferred

Barclaycard 22-Month Platinum (2.9%, plus £30 discount)

NatWest Platinum (3.2%)

RBS Platinum (3.2%)

Halifax Mastercard (3.5%)

£2,500

£42.50

£80

£80

£87.50

£5,000

£115

£160

£160

£175

£7,500

£187.50

£240

£240

£262.50

£10,000

£260

£320

£320

£350


As you can see, the fees you'll pay with the Barclaycard are vastly smaller than with the other cards, making it easily the top balance transfer card around.

That £30 discount online lasts until the end of May though, so if you are sitting on some credit card debt you need to get a move on to take advantage.

The Amazing May campaign
The £30 balance transfer fee discount is just one of four deals Barclaycard has launched for the month of May.

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