Barclaycard has reduced the fee on its 0 per cent balance transfer credit card.

The Barclaycard Platinum card comes with 0 per cent on balance transfers for 12 months. The fee for balance transfer has now reduced from three per cent to 2.5 per cent.

The reduction means that a cardholder transferring £5,000 will save £25 on the transaction.

The news follows the announcement earlier this year that the APR on the Barclaycard Platinum credit card was reducing from 14.9 per cent to 12.4 per cent.

Commenting on the reduction, Amer Sajed managing director of Barclaycard UK said: “This reduction will mean customers looking to move their balance now have to pay less to get a market leading deal.”

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© Fair Investment Company Ltd