Barclaycard 0% new customer offer

MSE_Martin

This thread relates to the new customer offer described in this article

(to discuss the existing customer offer click here)

To ask a question of discuss this click reply.

System

Martin,

Do you know if the Barclaycard 0% new customer offer applies when you add an 'additional cardmember' (e.g. my partner) to your existing Barclaycard as a 'new customer' hence benefitting from the 13 month 0% APR offer? Is this a loophole for existing customers?!

It's just so much better than the existing customer offer!

Cheers
Steve

MSE_Martin

Additional cardholders are just that I'm afraid - additional cardhodlers. In effect it is just letting someone spend on your account - not starting a new account in any way - so it doesn't apply. Sorry

System

I am someone who never has had debt for any period of time on a credit card, but would like to pay for a holiday by using Barclaycards offer, the holiday is 800 in total so how much would be the first minimum payment on the card?

Milarky

You'll be wanting the new customer offer then? 0% on balance transfers (BT) AND purchases for 12-13 months. On £800 the min payment should be 2% of the reducing balance (£16 initially) and Barclaycard round down the payment to the next whole £ (so £16, £15, £14 etc)

But remember that you also have a limited period of 60 days in which to do any 0% transfers. Suppose they give you a limit of £2600? you can in theory use the whole credit limit by

1) First BT'ing £1,800 (i.e. well under the 90%)

2) Spending exactly £800 on a large purchase

3) Put the card away and DON'T use it

4) Most importantly set up an immediate direct debit AND pay 2% of the first statment balance  as soon as you get it just in case the DD doesn't take collect.

Result: you have taken up the full credit limit

However you have to transfer your balance(s) to other cards - so if you wanted this as cash you have to find a 'super balance transfer' card (MBNA,Egg) and others offering balance transfers by cheque (Mint, Goldfish)

Martin, I assume BTs for new card customers aren't subject to the 2% fee you mentioned in connection with the 'life of balance' (LOB) offer for existing customers?

EDIT Have called Barclaycard this afternoon (Fri). They confirm* the following:

Existing cardholders can apply an new 'alternate' card (e.g. Visa for Mastercard) and it will qualify as part of the 'new customer' offer.

On notifying exisiting customers of this deal (2.9% offer): This will be posted to us in our June 2004 statements

*will have to verified, no doubt

pursestring

There's also an interesting article about this offer on the Motleys Fool website.

It can be found at
http://www.fool.co.uk/news/comment/2004/c040526e.htm

DiggingOut

I don't see this offer on their website, is it not available yet?

zain

june 16th i think?

osagefo

In my haste to take advantage of this deal, I made the mistake of submitting an online application for a Barclay card yesterday. It was only after I was reviewing the site that I noticed that the offer does not start till June. I do not know the outcome of my application as they indicated that it will take 7 days to process. Is it possible to cancell this application and re apply, or can I just hold of signing on the dotted line till I have managed to negotiate myself into the new deal. Or perhaps I should not be too greedy and just take their cash up to February free assuming that my application is successful? If there are other alternative then I would be quite happy to consider.

Cheers

laminki

take the cash.
learn from your mistake (more important than money!!)
now, let's get back on topic.

System

I have both the BarclayCard Platinum MasterCard 4k & Visa Card 9k.

I've been a customer for over 10 years and feel it’s a great shame that they are not offering this to there loyal customers (I guess there’s no such thing these days). Instead they send those crappy loyal buy DVDs at X price inserts!

So what’s stopping me from cancelling one of the cards maybe the 9k card or both and reapplying?

Surley I'd get the same credit limit or if not more?...

Mark