Barclaycard had just launched the longest-ever balance transfer deal 0% for 31 months, but its fee structure has been questioned by money experts.
The Barclaycard Platinum comes with an 'effective' balance transfer fee of 2.99% but the lender charges you 3.5% initially before 'refunding' you the difference two working days later, according to the card's terms and conditions.
While Barclaycard is yet to respond, personal finance expert Andrew Hagger told Moneywise: "It is weird and doesn't seem to be in the best interests of the customer."
Nevertheless, the Barclaycard Platinum is now topping comparison sites' balance transfer tables. It also comes with a six-month interest-free period on purchases and has standard APR of 18.9%.
Kevin Mountford, head of banking at MoneySuperMarket said: "For anyone wanting to switch from a card at an industry average APR of 18.15% APR, with a balance of £2,500, they would save £1,275 in interest by moving to this card, which is phenomenal.
"It will be interesting to see what happens now in the balance transfer market and how other providers think they can compete. However, if you have a balance to transfer, consider how long you really need to pay off your debt.
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If you can afford to pay off your balance in a shorter timescale, some of the cards that offer shorter interest free periods having much lower balance transfer fees so could be a better option."