Barclaycard Has Some Interesting Balance Transfer Options
If you’re in need of a Barclaycard balance transfer, you’ll find their current offerings below. I have compiled of list of all their offers if you need to transfer credit card debt from another issuer, such as Chase or Citi.
Barclaycard actually has a no fee balance transfer credit card in its Ring card, though not what you might expect. While they may not charge a balance transfer fee, the APR isn’t 0% or even close to it. Instead, it can be as “low” as 10.49% APR, which is also variable. The upside is that it’s not an introductory rate, so it will only increase (or decrease) when the prime rate does.
They’ve also got a whole line of “NFL Extra Points Credit Cards” for the NFL team of your choice that come with 0% introductory APR for 15 billing cycles on balance transfers made within the first 45 days of account opening.
In other words, you can get a San Diego Chargers version of the card and transfer your existing card balances to the 0% APR card and pay no interest for a year and three months. Not too bad. However, there is a balance transfer fee of 3% (minimum $5) for each transfer.
Interestingly, you also get 0% APR for six billing cycles on NFL game tickets purchased from a participating NFL team ticket office. Not that you want to mix up purchases and balance transfers on the same card, at least in my humble opinion.
Current Barclaycard Balance Transfer Offers
Barclaycard CashForward World MasterCard – 0% APR for 12 months on purchases and balance transfers, balance transfer fee is 3% of each balance transfer amount, no less than $5. No annual fee.
Barclaycard Arrival Plus World Elite MasterCard – 0% APR on balance transfers for 12 months, 3% balance transfer fee ($5 minimum), $89 annual fee, waived first year.
Barclaycard Arrival World MasterCard – 0% introductory APR for first 12 billing cycles on balance transfers, $0 annual fee, 3% balance transfer fee with a $5 minimum per transfer.
JetBlue Card from Barclaycard – 0% introductory APR for the first 12 billing cycles for each balance transfer posted to your account within 45 days of account opening, 3% balance transfer fee ($5 min) and $0 annual fee.
JetBlue Plus Card (JetBlue Plus World Elite MasterCard) from Barclaycard – 0% intro APR for the first 12 billing cycles for each balance transfer posted to your account within 45 days of account opening, 3% balance transfer fee ($5 min) and $99 annual fee.
NFL Extra Points Credit Card (team of your choice) – get 0% APR for 15 billing cycles on balance transfers made during first 45 days of account opening, 3% balance transfer fee ($5 min) and no annual fee.
Wyndham Rewards Visa Card – 0% APR for 15 billing cycles on balance transfers, 3% balance transfer fee ($5 min), $69 annual fee. Cardholders can earn 30,000 Wyndham Rewards Points for first purchase or balance transfer.
Wyndham Rewards Visa Signature Card – 0% APR for 15 billing cycles on balance transfers, 3% balance transfer fee ($5 min), $0 annual fee. Cardmembers can receive a one-time $25 statement credit if a balance transfer posts to their account within first 30 days after account is opened. This can potentially offset all or some of the balance transfer fee!
Those are the Barclaycard balance transfer offers currently available. They can come in handy if you need to transfer credit card debt from another major issuer because you can’t transfer within the same bank. So if you don’t already have a credit card issued by Barclaycard, one of the above cards could be a good option.
Barclaycard Balance Transfers for Existing Customers
This is where Barclaycard really shines. If you log-on to their website, you can easily see what balance transfer offers are available to you by clicking on the “services” tab and then balance transfers.
From there, you’ll see something like the screenshot above. I had 3-4 offers waiting for me, with varying 0% APR periods and balance transfer fees. And there were some good offers listed, as you can see.
Then you can do the whole thing online, in minutes. Their balance transfer form allows you to pay off a credit card (or two), or simply transfer money straight into your bank account. Pretty awesome that you can just move cash into your bank account and pay a nominal 1% fee.
You also pay off other types of debt, such as an outstanding loan you may have. Simply click the appropriate tab and you’re off to the races!
Barclaycard Balance Transfer FAQ
As you can see, Barclaycard is pretty active in the balance transfer world. They offer a lot of different options to both new and existing cardholders, and they send out balance transfer checks a lot!
The good news is that Barclaycard balance transfer checks often have a balance transfer fee of just 1%, which is only $10 per $1,000 transferred…not bad in exchange for 0% APR for a year or longer.
It’s as close to free as you can get. And these checks can be deposited straight into your checking account!
That being said, most of their offers for new cardmembers tend to have the standard 3% fee with a minimum of $5 charged, aside from that awesome no-fee offer mentioned above.
If you apply for a balance transfer during the Barclaycard application process and the amount exceeds your new credit line, they may choose to approve it partially (by sending partial payment to your other creditor) or decline the balance transfer outright. So you may want to wait to see what your credit limit is, then execute the transfer.
With regard to how long it can take, Barclaycard says a balance transfer can take up to 4 weeks to post to your other accounts. However, if you apply for a balance transfer during your application, they will process the requested balance transfer payment on the 10th day after they’ve mailed you your new credit card.
During this time you can cancel (and perhaps modify) your balance transfer request via the phone number on the back of your new card if you have a change of heart.
Barclaycard may allow you to pay off balances from companies other than Visa, Mastercard, American Express, and Discover, but you have to call them first to see if a particular account is eligible.
(photo: Elliot Brown)