Barclaycard Flexi Rate

Barclaycard has decided to take a new tactic towards their credit card approvals.  In the past they have offered lower rates to the individuals who have the best credit scores and history as well as low debt ratios.  Now Barclaycard has decided to offer incentives for their new customers.  The Barclaycard Flexi Rate offers one of the newest innovations for variable interest rates.  It doesn’t come without a cost though.  Barclaycard doesn’t have to offer the new credit card to every applicant, and it is based on the right to reserve the offer for those that may be less risk to the company.

With the Barclaycard Flexi Rate you are going to obtain a card that rewards you for the amount you repay.  The more you pay down the card the most they will lower the interest rate.  In fact you could have an interest rate of 9.9% if you pay down the card balance appropriately.  How it works is that as you pay down the balance on the card, usually by paying off the balance on a monthly basis and on time, Barclay will lower the interest rate from 14.9 percent to a lower rate.  The longer you have the card the more it will be lowered.  The 9.9 percent is usually reserved for those who have the card a longer period of time and don’t carry a balance.  To get this offer you must be a new customer to the Barclay Company.  The Barclaycard is a visa.

The Barclaycard Flexi Rate also offers you introductory offers and discounts at various places.  The discounts can be from Thomas Cook, Center Parcs, Buy a Gift, Laithwaites, and Avis at the moment.  They also have a deal with Hilton hotels.

When you apply for this card you can take advantage of the balance transfer deal.  This deal allows for zero percent interest for a period of twelve months.  You need to transfer the balance in the first three months of having the card.  You also need to pay a fee of 2.5 percent for the transfer.  This card offers a zero percent interest on purchases for up to three months.  These deals begin as soon as the account is open.  You can hinder the zero percent interest and the rewards deal of lowering your interest rate over time, if you make a late payment or miss a payment.

To get this offer you have to have a good credit history and score.  You also need to be 21 years of age and have at least 10,000 pounds in income.  They generally don’t offer this deal if you have had a county court judgement or other arrears on your history.  If you can apply for the card and are sure you can make large repayments then this is a great card for you.  If you can’t get the benefit of lowering interest rates over time, then you should shop for a different Barclay card.  Barclay has one of the lowest interest rate offers at the moment.

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