Previously offering a headline rate of 17.9 per cent, from yesterday (November 1st) the company will reduce this offering to 14.9 per cent in order to better compare with other credit lenders’ new low-rate cards.

The Platinum card will continue to offer the other introductory perks associated with it – including a three-month zero per cent purchase rate and a 12-month zero per cent balance transfer rate (a 2.5 per cent handling fee applies to the balance transfer offer).

Barclaycard says the Platinum rate reduction is the fourth price cut it has announced this year.

In addition to this, the company offered a 0.1 per cent reduction on its Simplicity account (to 6.8 per cent), a two per cent reduction on its Flexi-Rate product (to 14.9 per cent) and a five per cent cut on its Student Barclaycard offering (to 14.9 per cent).

To read more about zero per cent credit cards, click here.

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