Barclaycard offers consumers flexi-rate
Published On 4 October 2006
Barclaycard has introduced nought per cent balance transfers for 12 months through its flexi-rate product.It is now the only credit card that charges a lower interest rate to customers who pay off a higher proportion of their balance each month.
From October 9th, flexi-rate will offer nought per cent interest for 12 months on balance transfers and a lower typical APR of 14.9 per cent, which is down from 16.9 per cent.
The changes will ensure that cardholders can reduce borrowing on their card by switching to flexi-rate.
Amer Sajed, Barclaycard UK Cards managing director, said: "We are delighted that flexi-rate is continuing to change the way cardholders manage their borrowing.
"It is clear from our findings that using a card in this way has a positive effect on borrowing costs.
"By opting to manage their debts more responsibly, customers are rewarded by paying less interest and having the time taken to clear their balance reduced."
