If you are looking for a win-win credit card, a Barclaycard with 0% interest on purchases might be for you. This is an interest offering since we are used to having to pay interest when we use credit cards. But this new option can really help you out when you need to make a big purchase and are in a financial crunch.
Whether it’s purchasing items for your home, picking up groceries for your next meal, or simply easing your monthly payments, a 0 interest card can be handy. Of course that doesn't mean you can go crazy on purchases without having to pay fees. Barclaycard has a number of credit cards that address a variety of needs. Since you've got options, it is best to do your homework before signing up for a card.
Sit down and evaluate what is most important to you. Your make or break points could be interest rates, cashback fees or even the type of rewards a card provides. Our editors have looked into Barclaycard and the types of cards they offer. They have compiled some details you need to know. Make sure you read everything below before making your final decision on which card is right for you.
What is a 0% Interest Purchase Credit Card?
A 0% interest purchase credit card is a type of credit that allows you to buy items and make purchases without any added interest. This special offering on credit cards in only made available for a particular period.
A 0% interest purchase credit card comes in handy for individuals primarily because it provides them with purchasing power they otherwise would not be able to afford on their own. Depending on the type of Barclaycard credit card availed, users may also be rewarded with discounts and other benefits.
Which Barclaycard Credit Cards Have 0% Interest on Purchases?
Below is a rundown on the current Barclaycards which offer 0% interest on purchases.
Forward Credit Card
Perfect for first-time would-be cardholders, the Forward Credit Card powered by Visa acts as a stepping stone for those looking to build their credit. Aimed for first-timers and those with a limited credit history, the Barclaycard Forward Credit Card has a credit limit of £50-£1,200.
Under its price promise feature, you will be given the chance to reduce your assigned interest rate by 3% if you pay all your dues on time and keep within your credit limit. Another 2% reduction will be applied after your second consecutive year of compliance.
The best of all? It offers 0% interest on purchases for three months from account opening. After three months, the purchase rate will revert to a variable of 34.9% per annum. APR for this is also 34.9% with an assumed credit limit of £1,200.
Barclaycard Rewards
Slightly different than the rest, the Barclaycard Rewards credit card provides users with absolutely no purchase fees for international spends until August 31, 2023. However, this particular offering only remains valid provided you pay with your local currency. After the limited-time offering, you will be charged with the regular purchase rate of 22.9%.
On top of this, the Rewards card stays true to its name by giving you cash back each time you spend. 0.25% cashback will be given for all spends until August 31, 2023, as well.
The Rewards card has a representative APR of 22.9%.
Platinum Card
The most premium Barclaycard offering, this Platinum credit card powered by Visa offers maximum flexibility not only for purchases but also for balance transfers. This provides you with 0% interest on purchases for up to 25 days of account opening. The all-rounder Platinum credit card has as 21.9% representative APR with an assumed credit limit of £1,200.
What are the Fees and Charges of the average Barclaycard?
Although the Barclaycards we have told you about require 0% interest on your purchases, there are other fees. These other fees pertain to a variety of things like cash back and late payments. Make sure you check these out before deciding whether or not one of these Barclaycards is right for you.
- Cash Transaction Fee – 2.99%, minimum of £2.99 on both sterling and non-sterling cash transaction
- Foreign Usage Fee – 2.99% of the amount purchased
- Late Payment Fee – £12
- Over Credit Limit Fee – £12
Now that you know the different types of credit cards that offer 0% interest on purchases, you can now choose which Barclaycard best fits your needs and lifestyle. For more information, feel free to contact the bank and ask for advice from their financial advisors.
How to Contact Barclaycard
Interested parties may apply for a credit card with 0% interest directly through one of the bank’s nearby branches or by online application. For further information and assistance on these credit card offerings, you may reach Barclay at 0800 716 59824. You may also visit its head office located at 1 Churchill Place, London E14 5HP.
There may be risks involved when applying for a credit card. To know more about this, visit the bank’s Terms and Conditions page.
