Barclaycard Flexi-Rate offers 12 months interest free
Wednesday, 04 October 2006 12:00
Barclaycard Flexi-Rate, which offers lower interest rates to customers who pay off more of their balance each month, is now offering customers a 0% balance transfer deal.
From October 9th 2006, Flexi-Rate will offer 0% interest for 12 months on balance transfers, with a 2.5% balance transfer fee.
The credit card is also lowering its typical APR of from 16.9% to 14.9%.
Barclaycard Flexi-Rate system - offering variable rates of interest on the same card - was introduced to the credit card market in October 2005 and offers incentives for cardholders to pay off more than their minimum amount each month.
While someone making the minimum repayment of 2.5%of their balance will be charged 14.9% on the outstanding amount, a customer paying off 10% or more of their card balance will be charged just 9.9%.
Comments
Newsletter sign up