Barclaycard marks 'new battleground'
Published on : 05/09/2008
Compare all energy suppliers
9 out 10 can save money!
One credit card company's new product has marked out a new "battleground" for competition in the industry, it is being claimed.
MoneyExpert.com said that Barclaycard's new OnePulse credit card has seen the lender lower its balance transfer fee to 2.5 per cent instead of extending the length of the zero per cent deal available.
Sean Gardner, a spokesman for the website, said in recent years lenders had simply been trying to offer the longest zero per cent deal, with Virgin Money heading the table for some time.
He added that Barclaycard's offer "will stir things up and it'll be interesting to see who follows".
"Barclaycard has marked out a new battleground for competition in the credit card market," he claimed.
The OnePulse credit card maintains a "competitive" 14 month zero per cent deal as well as the "lower fee", Mr Gardner concluded.
Barclaycard claims it offered Britons their first credit card product back in 1966.