91Ï㽶»ÆÉ«ÊÓƵ

Following Barclaycard's announcement, Hannah Maundrell, Editor in Chief of money.co.uk, commented:

"Everybody loves a freebie, but sometimes the temptation of getting something for nothing - like a free case of wine or a Debenhams gift card - can outweigh the most important part of choosing a financial product: getting the best deal for your circumstances.

"However, in the case of Barclaycard's Platinum 33 and 34 month balance transfer cards, it looks as though they've just made the market-leading balance transfer deal even better. But anyone that wants to get this deal must act quickly, as you will only qualify for the giveaway if you get the card and make a £2,000 balance transfer by the 24th of October.

"It's a good idea to request the balance transfer when you apply for the card to ensure you qualify for the freebie.

"However, not everyone needs almost three years to repay their credit card balance, so people shouldn't opt for this card without checking it's the cheapest deal for them. With a balance transfer fee of 2.99% on Barclaycard's 34 month deal, this will cost customers around £60 to transfer £2,000. It's good to keep this in mind when you consider the retail value of a case of wine.

For those that can clear their credit card balance within twelve months, there is no need to pay a balance transfer fee at all as the Tesco Bank Clubcard credit card with no balance transfer fee offers fee-free balance transfers. There are many other shorter-term deals with lower balance transfer fees.

"At the moment, it seems financial providers are falling over themselves to offer consumers incentives to take their products.

"Most recently, Lloyds Bank started offering new mortgage customers an iPad and TSB is offering to pay people's council tax if you take out certain mortgage products.

"Current accounts providers such as First Direct and Halifax also offer new customers £100 to switch to them.

"For broadband, new customers can receive up to £125 vouchers to switch to BT Infinity and with Sky you can get choose a £100 reward.

"It's great to see providers actively fighting for business and encouraging consumers to shop around and get the next best deal. However, all that glitters often isn't gold and just because there's a freebie on offer it doesn't mean it's the best deal for you."

press@money.co.uk