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Barclaycard credit card review: Simplicity

IF you're ready to stop sorting through credit card special offers it could be time to settle down with the aptly-named Barclaycard Simplicity.

The Barclaycard Simplicity credit card has one of the lowest interest rates on the market at 6.8% p.a.

The credit card also has one of the lowest life of balance transfer rates on the market too which is also 6.8% p.a - and there is no balance transfer handling fee to pay.

With no special offers to worry about this is a low-stress long-term credit card. Although bear in mind if you want to take advantage of the fee-free balance transfer deal, you'll have to move any balance across to the Barclaycard Simplicity within 60 days of opening the account to qualify.

As a platinum credit card holder you will also have access to Barclaycard cardholder services.

That means discounts on travel from the Barclaycard Travel Service operated by Thomas Cook, as well as identity and fraud protection and worldwide assistance in case of credit card theft or loss.

Since the Barclaycard Simplicity is a platinum card you will have to have a good credit rating to apply.

That means you'll be over 21 with at least four years of managing credit commitments well, always making payments on time and having had a permanent address in the UK for over three months. You must also have a regular income of over £20,000 pa and not already have a credit card with Barclaycard.

All in all, the Barclaycard Simplicity offers a great deal for those eligible for a platinum credit card.

Interest Rates and Fees
		Notes..
Typical APR	6.8% APR (variable)	The typical APR is the rate most people are offered.
Balance Transfers	6.8% for life of balance	You can transfer between £250 and up to 90% of your available credit limit. You must transfer any balance within 60 days of account opening to qualify.
Balance Transfer Fee	None	There is no balance transfer handling fee on the introductory balance transfer offer. Other balance transfers and cheques may be charged a handling fee of 2.5% unless Barclaycard tell you otherwise.
Cash Withdrawal Rate	15.8% p.a. (variable)	-
Cash Withdrawal Fee	2.5% (£2.5 minimum)	-
Annual Fee	None	-
Foreign Transaction Fee	2.75%	This fee will be charged if you make a purchase or cash withdrawal in a foreign currency.

Rewards
		Notes..
Reward #1	Barclaycard Freedom	Earn up to 1% in Reward Money on all your purchases with participating retailers. Reward Money can be redeemed towards future purchases at the checkout of any participating retailer. Barclaycard Freedom participating retailers include: - Shell: 0.5% (Earn only, no redemption) - Goldsmiths - Blue Inc - Yo! Sushi - Pizza Express - Firebox.com - npower - LA fitness - Nationwide Autocentre - gourmet burger kitchen - Just Tyres - Officers Club - Barclays - Flight Centre - Watches & Switzerland - F.HINDS - Mappin & Webb - petroleum - BSM - Bales Brothers - Lewis & Clarke - Give by George Davis - JustGiving
Reward #2	Thomas Cook Discounts	Book your holiday through the Barclaycard Travel Service and get a discount of 7% or more with Thomas Cook and over 150 tour operators. Thomas Cook will also waive their standard 2.25% credit card booking fee for Barclaycard cardholders.
Reward #3	Barclaycard Unwind	Exclusive access to entertainment tickets, must-see gigs and one-off live sessions with Barclaycard Unwind.

Cardholder Services & Extras
Online Account Management		You can log in to the Barclaycard web site and manage your Barclaycard Simplicity credit card account online. An optional free text alert service offers a text message to your mobile 5 days before your Barclaycard payment is due.
Fraud Guarantee		You won't be held liable for fraudulent use of your Barclaycard as long as you notify Barclaycard as soon as you become aware of it or notice anything suspicious on your account.
Fraud Monitoring		Barclaycard will look out for any unusual activity on your account and contact you to make sure it's not fraudulent.
Identity Protection		Identity Protection Service Barclaycard provide a confidential helpline if you think you may be a victim of Identity theft or if you just want advice on how to avoid it happening.
Verified by Visa		An extra layer of security when shopping online. Register and set up a password-protected identity-check when you shop online with participating online retailers.
Purchase Protection Insurance
Purchase Delivery Insurance		Covers brand new goods bought with your Barclaycard Simplicity credit card if they don't arrive or are delivered damage and you are unable to resolve the issue with the supplier. Covers goods bought online, over the telephone and in the high street if goods are delivered.
Comprehensive Travel Insurance		Free single trip travel insurance When you book your holiday (between 2 and 21 days long) through the Barclaycard Travel Service. Up to 5 friends and family members travelling with you will be covered. Exclusions and terms and conditions apply.
Travel Accident Insurance
Travel Inconvenience Insurance
Assistance Abroad		Worldwide Assistance Free help if anything goes wrong while you're abroad. Barclaycard can help you in the case that anything goes wrong whilst you are abroad. They can provide legal assistance, medical emergency help, arrange flights and transport to get you home as quickly as possible, interpretation, send a message home, and help with lost or stolen documents.
Emergency Card Replacement		Barclaycard will get you an emergency card replacement if yours is lost or stolen anywhere in the world. Barclaycard can also arrange an emergency cash advance of up to £1,000 a week (subject to available funds on your account), and they'll even refund the cash handling fee.
OneTouch Payment System		Visa payWave A contactless payment technology that allows you to pay for purchases costing £10 or under with just a 'touch' of the credit card at participating retailers (mainly around London travel services).
Other Extras	- 10% off Barclays Annual Travel Insurance - 24 hour Customer Services.
Optional Extras	These are extras that you can choose, but you will have to pay for them. - Card Protection - Payment Protection - Everyday Cover - Identity Theft Protection.

Payments & Payment Details
		Notes..
Credit Limit	£250 minimum	Maximum credit limit is subject to status.
Interest Free Period	Up to 56 days	For purchases if you pay your statement balance in full and on time each month. There is no interest free period on balance transfers, cash withdrawals or credit card cheques outside of any promotional period.
Minimum Monthly Payment	2.25% (£5 minimum)	The minimum monthly payment will be the greater of: - 2.25% of your outstanding balance, OR - £5.
Allocation of Payments	Default Charges » Promotional Balance Transfers » Promotional Purchases » Purchases, Balance Transfers & Other Charges » Cash Withdrawals	-
Default Charges	£12	This is how much you will be charged for late payments, returned payments and if you go over your credit limit.
Copy of Statement Fee	£3	This is the fee you will be charged for duplicate statements.

Card Details
		Notes..
Online Application	Yes	Remember: always ensure you meet the application requirements before applying, as getting rejected can affect your credit score.
Card Type	Platinum	-
Payment Company	Visa	The company who provides the payment technology and infrastructure to allow you to use this credit card. Retailers and ATM machines displaying the 'Visa' logo will accept this credit card.
Card Issuer	Barclays Bank	The bank who issues this credit card. Barclays Bank 1 Churchill Place London E14 5HP
Card Advertiser	Barclaycard	The company who advertises and promotes this credit card.

Review Continued...

The Barclaycard Simplicity credit card offers a great deal for those looking to keep it simple with their credit cards.

One low rate

With an interest rate of just 6.8% APR the Barclaycard Simplicity platinum credit card has one of the lowest interest rates on the market.

Even given that, to apply for this credit card, you are likely to rarely let your balance roll over at the end of the month this is an excellent deal. As with most credit cards, there is an interest-free period of 56 days.

You can also enjoy this same low interest rate on any existing credit card debts. You can transfer up to 90% of your credit limit with a £250 minimum amount, to your Barclaycard simplicity to take advantage of this life of balance transfer deal (although bear in mind the rate here is variable and not fixed, so it may change). However, you won't be able to transfer from another credit card from the Barclaycard group.

The minimum credit limit is £250 and the maximum will be subject to status but is likely to be fairly high given the excellent rates offered by this credit card.

An addition bonus is there is no handling fee to pay on balance transfers - which could be saving you a few hundred pound on larger transfers.

Remember you will need to complete any balance transfers within the first 60 days of account opening to qualify for the no-fee low rate balance transfer offer.

A Little more Security and some Travel Extras

As well as being a great card for responsible purchasers, then, the Barclaycard Simplicity credit card comes with all the assurance of any other Barclaycard, offering security features and moneysaving extras.

Cardholders can take advantage of the identity protection service and fraud monitoring services that come with the card.

There's free worldwide assistance if you experience problems such as lost or stolen documents or need legal help whilst abroad. Wherever you are in the world, Barclaycard aims to be able to assist with emergency cash and a replacement card.

You are also entitled to use the Barclaycard travel service with this card and if you do you can get free travel insurance for up to five people.

Continuing on the travel theme are the savings offered through the Barclaycard Travel Service, which offers Barclaycard cardholders discounts of 7% or more with Thomas Cook and over 150 tour operators.

... But no Cash

As with most credit cards the Barclaycard Simplicity platinum credit card isn't suitable for withdrawing cash.

With a prohibitive 15.8% p.a. interest rate on cash withdrawals plus a 2.5% 'handling fee' of a minimum of £2.50, however, this credit card is still cheaper than most for withdrawing cash.

If using your Barclaycard Simplicity credit card abroad you will be subject to a 2.75% transaction fee.

Barclaycard Freedom

The new reward scheme from Barclaycard - Barclaycard Freedom - is available on the Simplicity credit card.

Offering up to 1% in Reward Money on any purchase made at participating retailers, this reward scheme works similarly to a cash back scheme except here you will be limited to selected retailers.

Redeeming the Reward Money is a fairly straightforward process - simply decide at the checkout how much of your accumulated Reward Money you want to put towards a purchase at a participating retailer, or choose to save it up for a special reward.

Barclaycard Freedom replaces Barclaycard's old retailer discount scheme, where you could receive discounts on purchases with a number of participating retailers. Freedom is pretty similar - but at least you do have more control over how and when you redeem your discount.

Current Freedom retailers include Shell, Yo! Sushi, Pizza Express, Goldsmiths, Firebox.com, npower, LA fitness, Nationwide Autocentre, Gourmet Burger Kitchen, Just Tyres, Barclays, Flight Centre, Watches & Switzerland, F.HINDS, Mappin & Webb London, BSM, Balls Brothers, Lewis & Clarke, GIVE by George Davis and charity donation site JustGiving.

Final Word

The Barclaycard Simplicity platinum credit card is a simple card that nevertheless really delivers on low interest rates and a low life of balance transfer offer.

Apply Online for Barclaycard Simplicity credit card »