In this article, we review the Barclaycard Platinum credit card.
This card has an attractive introductory offer on both balance transfers and purchases, although you might not qualify for the full term if you have a poorer credit score.
Key facts about Barclaycard Platinum credit card
- Best for: Those with a smaller balance to transfer, who don't mind the 3.45% transfer fee.
- Introductory offer: Up to 20-months interest free on balance transfers and 21 months on purchases.
- Representative APR: 24.9% variable.
- Fees: 3.45% on balance transfers (transfers must be made within 60 days of opening the account to qualify for the 0% offer).
- Perks: Access to exclusive entertainment and travel offers via Barclaycard Entertainment.
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- 26.5% APR Representative (variable)
Pros of Barclaycard Platinum credit card
- It offers a good option for those looking to transfer an existing balance but also continue to spend.
- It has a reasonably lengthy interest-free introductory period, although this is subject to status and may not be open to everyone (although 8 out of 10 applicants are offered the full term, according to Barclaycard).
- The perks available to cardholders are an attractive incentive.
Cons of Barclaycard Platinum credit card
- The balance-transfer fee – although only 3.45% – could irk some cardholders, particularly when compared with other fee-free credit cards that also offer long interest-free periods.
- There is a minimum income requirement of more than £20,000 per annum to be eligible for the card.
- You are unlikely to be accepted for the card if you have even a mildly impaired credit history. If you are accepted, it is likely to be for a shorter interest-free period.
How to manage your payments on Barclaycard Platinum credit card
Cardholders need to register for the online Barclaycard account and will then be sent digital statements. There is the option to switch to paper statements if preferred.
How to apply for the Barclaycard Platinum credit card
It's advisable to complete the Barclaycard eligibility checker before completing the full application as this will not leave a hard "footprint" on your credit report. If successful, you can then complete the online application form, where you will be given a response in just one minute.
Which credit card is best for you?
Comparing different credit cards is a key part of getting the best deal for you. Money to the Masses has helped to simplify this process by partnering with Creditec*, an online comparison service. You do not need to trawl through countless different provider websites hunting for the best cashback or lowest fees, as Creditec’s personalised search results will show you the key details you need to know in one place. Your tailored list will also feature the cards that you are more likely to be accepted for, cutting down the chance of any applications you make being rejected. Your search results are built using a soft credit search, so there will be no damage to your credit score. You can start your search by clicking this link*.
Alternatives to the Barclaycard Platinum credit card
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