0% Balance Transfer for 31 months + £20 fee refund + possible £25 cashback @ Barclaycard (works out at 47p a month based on a £2k balance transfer)
1093°Expired

0% Balance Transfer for 31 months + £20 fee refund + possible £25 cashback @ Barclaycard (works out at 47p a month based on a £2k balance transfer)

115
Found 15th Apr 2014
Barclaycard have the longest 0% balance transfer in the market at 31 months - thats over 2 and a half years.

They have just launched an offer of an additional £20 cashback/refund on a balance transfer of £2000+. If you go via Money Expert you can also get another £25 cashback on top.

- 0% interest on balance transfers for 31 months from account opening
- A fee of 3.5% will be applied, then reduced to 2.99% by a refund within 2 working days
- Plus an additional £20 fee refund on balance transfers over £2000 (statement credit on 3rd statement)
- Apply via moneyexpert.com you can get a possible £25 cashback (link in comments)
- Offer applies to new customers. Terms and conditions apply.

Worked example based on a balance transfer of £2,000:
- Pay a fee of 3.5% which is £70
- Within two working days this will be reduced to 2.99% so you will only pay £59.80
- Get an additional £20 statement credit on your third statement
- If you go via Moneyexpert then get £25 possible cashback (link posted in comments)
- End Result? You will only have paid £14.50 to borrow £2,000 for 31 months at a 0% rate, equivalent to 47p a month

Also 0% interest on purchases for 6 months from account opening
- ather7851

115 Comments

Original Poster

- Apply via moneyexpert.com you can get a possible £25 cashback
moneyexpert.com/cre…fer

- Plus an additional £20 fee refund on balance transfers over £2000 (statement credit on 3rd statement)

Edited by: "Chanchi32" 15th Apr 2014

Me and my partner have 3k on our accounts. Can I borrow 2k using this card and then pay for 5% deposit towards mortgage. Is there any chances to get the mortgage?

Get in debt - not the best deal. Voted cold.

Sliwka

Me and my partner have 3k on our accounts. Can I borrow 2k using this … Me and my partner have 3k on our accounts. Can I borrow 2k using this card and then pay for 5% deposit towards mortgage. Is there any chances to get the mortgage?



The bank will want to know where the deposit came from, I don't think they will be happy with credit card debt as the source. (but I'm not a mortgage advisor)
Edited by: "kingchris" 15th Apr 2014

I know obviously it depends on a lot of factors but what is a typical quantity you could get as a limit for balance transfers? Looking for as high as possible, paying it off won't be an issue.

good deal for me

Does this apply to existing customers too?

Heat added

How is a balance transfer card a deal? Good for a chuckle though

Edward_Nigma

Does this apply to existing customers too? Heat added


Doubt it, Their not that generous.!

Supercharge_Me

How is a balance transfer card a deal? Good for a chuckle though


erm......because it beats paying 7%

leninthe31st

Get in debt - not the best deal. Voted cold.


This is an offer for someone who already has debt and is saving money (the sole purpose of this website) by paying 0% over 31 months instead of maybe 17.9% on an existing card. You may as well go on an easter egg deal and say gettting fat, voting cold. Or a computer game deal saying wasting life away, voting cold...

Original Poster

Edward_Nigma

Does this apply to existing customers too? Heat added



New customers only. If you are an existing customer and want a better deal you can always try phoning customer service to see if they can offer you a better deal. Alternatively switch to another provider. It depends what you are looking for e.g. balance transfer, purchase, cashback etc Let me know what you are looking for and I maybe able to suggest something. cheers

samuelsmith87

erm......because it beats paying 7%



Or you could just save and buy things when you can afford it (_;)

If you are going for this, just a tip. Don't miss your payments or you will lose the rate. I used to work for Barclaycard.
Edited by: "Supercharge_Me" 15th Apr 2014

Supercharge_Me

Or you could just save and buy things when you can afford it(_;)If you … Or you could just save and buy things when you can afford it(_;)If you are going for this, just a tip. Don't miss your payments or you will lose the rate. I used to work for Barclaycard.


I know, I have £7k saved up but I was explaining why it was a deal, for someone that used to work for Barclays your comment was lame.

Sliwka

Me and my partner have 3k on our accounts. Can I borrow 2k using this … Me and my partner have 3k on our accounts. Can I borrow 2k using this card and then pay for 5% deposit towards mortgage. Is there any chances to get the mortgage?



Go for it, you can have debt on cards going into your mortgage. Does it really matter whether you frittered it away on a big screen TV, or whether you have it as cash - I think not!

They won't even ask how you managed to get your deposit!

Original Poster

rfc4spl1

I know obviously it depends on a lot of factors but what is a typical … I know obviously it depends on a lot of factors but what is a typical quantity you could get as a limit for balance transfers? Looking for as high as possible, paying it off won't be an issue.



A couple of things:

- If you are looking to balance transfer a high amount, you may be better off with a low BT fee credit card . If you can sacrifice the length of the 0% balance transfer to 12 months, the best low BT fee credit card currently is Tesco
hotukdeals.com/dea…258

- You can balance transfer up to 90% of your credit limit. On the Barclaycard application form, it asks you if you intend to make a balance transfer. Answer yes and should get a decent credit limit subject to being accepted.

Any more questions, then feel free to ask. thanks

Edited by: "Chanchi32" 15th Apr 2014

Hawt

Great deal, good work Chanch. It really depresses me seeing people's mediaeval view of borrowing. As long as it is working for you and you aren't a slave, or being ripped off then it's healthy.

The same people would probably turn their nose up at a credit card that offered 5% cashback on all purchases, even if the user paid back in full.

Original Poster

escortboy

Great deal, good work Chanch. It really depresses me seeing people's … Great deal, good work Chanch. It really depresses me seeing people's mediaeval view of borrowing. As long as it is working for you and you aren't a slave, or being ripped off then it's healthy.The same people would probably turn their nose up at a credit card that offered 5% cashback on all purchases, even if the user paid back in full.



thanks

Definitely a great deal on a lower balance transfer amount. On £2k works out at a 0.73% fee (taking into account cashback) for 31 months 0%. Hope all is well with you.

BT min of 2k, so can be more if they give you higher limit, 2.25% min each month or £5, not bad, can make a small gain putting the fund in 2.3% Santander 2yr fixed ISA.

Supercharge_Me

I have over £100k saved up, I know what deal is and this is not one. Why … I have over £100k saved up, I know what deal is and this is not one. Why was the comment lame out of interest?


Because you are supposedly financially minded but say a deal where there is a fee of 2.99% is worse than a deal that is of a standard loan rate. Consolidating your debts with this card could save ppl a fair few quid

Many years ago when the interest was high, some card allow BT to a bank account, does this do that? Or it has to come from another credit card? Many thanks.

leninthe31st

Get in debt - not the best deal. Voted cold.



You wouldn't take this to 'get in debt' you'd get this to help you out of it!
If you have a balance on a card at 15%+ this will save you a fortune.

fool.

:-)

Supercharge_Me

I used to work for Barclaycard.



Actually many others work for Barclaycard too, they pay them the fee and interests. Fortunately, I am not, I just use them.

Could this be used to pay the final balance of a car? We have the final payment of £3800 due in December.

DrManhattan

You wouldn't take this to 'get in debt' you'd get this to help you out of … You wouldn't take this to 'get in debt' you'd get this to help you out of it! If you have a balance on a card at 15%+ this will save you a fortune. fool. :-)



OK.

Stay in debt - not the best deal. Cold.

Chanchi32

A couple of things:- If you are looking to balance transfer a high … A couple of things:- If you are looking to balance transfer a high amount, you may be better off with a low BT fee credit card . If you can sacrifice the length of the 0% balance transfer to 12 months, the best low BT fee credit card currently is Tesco http://www.hotukdeals.com/deals/get-paid-12-for-0-balance-transfers-purchases-for-12-months-based-2-000-transfer-1874258- You can balance transfer up to 90% of your credit limit. On the Barclaycard application form, it asks you if you intend to make a balance transfer. Answer yes and should get a decent credit limit subject to being accepted.Any more questions, then feel free to ask. thanks



Thanks, that's helpful. I have a decent salary with no other credit cards and a good credit score. Just thought that if I can get the credit then it'd be a good way of making a big purchase as I know I'll be able to clear it off in, say, 24-30 months. I noticed the 0.75% fee 30 month card that was available a few weeks ago is now gone!

One other thing I was wondering is, how does the 0% rate work? Say it is 18 months. If I open it up but don't BT for 3 months do I have 15 months at 0% or is the 18 months from whenever the balance is transferred? I know some cards have a set time when you need to do the BT by.
Edited by: "rfc4spl1" 15th Apr 2014

Supercharge_Me

I will assume you are referring to me since I am the only one commenting … I will assume you are referring to me since I am the only one commenting in a 'negative' way. I work in financial services and I have extensive knowledge of debt. I have no debt myself but I use cashback cards for all my spending. Kind of ironic I have such views on debt since it 'pays my wage' if you like but credit card companies are not a charity, in fact they are pretty ruthless. This is not deal, this is that carrot they dangle in your face to get you in. And once you are in, you realise it wasn't a carrot, it was actually a big c*ock. Don't worry though, I'm sure there are lube deals on HUKD too



I have no doubt you deal with financial products, however to use one sweeping statement about credit cards as a plague.
Some people are very financially savvy and don't get hammered for charges, have CCJs etc. I'm glad you use cashback, so am even more surprised by your earlier melancholy comments - you should be edifying hukd users...

Supercharge_Me

I will assume you are referring to me since I am the only one commenting … I will assume you are referring to me since I am the only one commenting in a 'negative' way. I work in financial services and I have extensive knowledge of debt. I have no debt myself but I use cashback cards for all my spending. Kind of ironic I have such views on debt since it 'pays my wage' if you like but credit card companies are not a charity, in fact they are pretty ruthless. This is not deal, this is that carrot they dangle in your face to get you in. And once you are in, you realise it wasn't a carrot, it was actually a big c*ock. Don't worry though, I'm sure there are lube deals on HUKD too



Yes, that's how anything works in the world. There are loss leaders and potential savings for those with the time, effort and discipline to stick to them in many areas. Of course these 0% rates rely on people forgetting to switch/not being able to pay them off/etc. but I'm not one of those. On the premise that you remember to not overrun the offer period on these cards they're a good deal. End of.

Surely if there is a great deal on a mortgage for example you're not going to go and say "COLD! You could lose your house!". Or maybe you would.

Original Poster

rfc4spl1

Thanks, that's helpful. I have a decent salary with no other credit cards … Thanks, that's helpful. I have a decent salary with no other credit cards and a good credit score. Just thought that if I can get the credit then it'd be a good way of making a big purchase as I know I'll be able to clear it off in, say, 24-30 months. I noticed the 0.75% fee 30 month card that was available a few weeks ago is now gone!One other thing I was wondering is, how does the 0% rate work? Say it is 18 months. If I open it up but don't BT for 3 months do I have 15 months at 0% or is the 18 months from whenever the balance is transferred? I know some cards have a set time when you need to do the BT by.



No problem.

The promotional rate for Barclaycard is from account opening. So in the scenario of a 31 month BT and you dont BT for a month you will only have 30 months 0%.

For this specific card, to get the promotional rate you have 60 days from account opening to transfer your balance. Also you need to ensure that you dont miss a payment and make the minimum payments, otherwise you revert to the standard APR and lose your promotional rate. Hope this helps. cheers

Edited by: "Chanchi32" 15th Apr 2014

leninthe31st

OK.Stay in debt - not the best deal. Cold.


How would you stay in debt? The money you would have been paying on interest you can put towards your card.

You're an eejit.

rfc4spl1

Yes, that's how anything works in the world. There are loss leaders and … Yes, that's how anything works in the world. There are loss leaders and potential savings for those with the time, effort and discipline to stick to them in many areas. Of course these 0% rates rely on people forgetting to switch/not being able to pay them off/etc. but I'm not one of those. On the premise that you remember to not overrun the offer period on these cards they're a good deal. End of.Surely if there is a great deal on a mortgage for example you're not going to go and say "COLD! You could lose your house!". Or maybe you would.



He wouldn't need a mortgage hes a banker by the sounds of it (to have 100k saved) so probably spending our tax money on champagne for losing a few million then saving his money for the next crash they cause.

I'm not a banker. And yes my job requires a C in GCSE maths, along with a C in English. Clearly my views have taken too personally by a few of you, this is not really a deal in my opinion, especially when the second comment is from someone asking if they use this card to put down a deposit on a house. The words 'irresponsible' and 'lending' will no doubt be thrown about in 6 months time..

I would agree using it for a deposit would be silly... and wouldn't work. But for those who need to transfer a debt at a low rate its a good deal.

looks good, thanks.

Only a hot deal if you are going to clear that debt and shifting to save interest. Otherwise just save for whatever it is your want.

Thanks op.

I done this last week great deal im saving £40 a month in interest

kingchris

The bank will want to know where the deposit came from, I don't think … The bank will want to know where the deposit came from, I don't think they will be happy with credit card debt as the source. (but I'm not a mortgage advisor)


You can use a loan as a source of deposit but not all lenders will like it. You will also have the repayments of the card, normally at 5%, counted against your monthly disposable income for repaying the mortgage, and with MMR happening tomorrow a lot more emphasis will be placed on monthly affordability, and your outstanding credit would count against the maximum amount of money you can borrow. Not a great way forward but that's just my two pennies.

Sliwka

Me and my partner have 3k on our accounts. Can I borrow 2k using this … Me and my partner have 3k on our accounts. Can I borrow 2k using this card and then pay for 5% deposit towards mortgage. Is there any chances to get the mortgage?



You want to put a house deposit on a credit card?!

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