If you want to get your hands on the Barclaycard Platinum with Longest Balance Transfer credit card, which offers a market-leading two-year 0% interest on balance transfers, you'll need to act fast. Barclaycard has announced it is withdrawing the card on Wednesday February 1 and, with no equivalent on the market, this could be your last chance to take advantage.

But what do you need to know?

What's the deal?

Barclaycard Platinum with Longest Balance Transfer Card, which was launched last summer, offers new customers the opportunity to pay 0% on balance transfers for an incredible two years, after which they will pay a representative APR of 17.9% (variable).

The introductory offer is subject to a balance transfer fee of 3.2% when you move your debt over from another card, which you must do within the first 60 days.

In addition to the 24 months at 0% on balance transfers, customers will also benefit from three months at 0% on purchases.

Any catches?

It is important to remember that the Barclaycard Platinum with Longest Balance Transfer card carries a representative APR of 17.9% (variable). Even though it will take two years before this rate kicks in, it is still essential that you clear all your debts before this time.

And, if your current credit card debt is already languishing on an existing Barclaycard, you will not be able to transfer this balance across - the debt has to be from another credit card provider.

Verdict

The death of the Barclaycard Platinum 24-month deal, does spell the end of the best balance transfer period in history. But if you miss the boat, there are alternatives.

For example, Barclaycard offers a version of its Platinum credit card which comes with a slightly shorter 0% balance transfer period of 22 months, and a lower transfer fee of 2.9%. If you don't require the full two years in which to pay off your credit card debt, this will be a cheaper option anyway.

HSBC's credit card offers a longer 23 months on 0% balance transfers for a 3.3% fee. However, this deal is only available to current account holders at the bank who pay in at least £500 a month to their account.

If you feel that it will take you the full two years to pay off your existing credit card debt however, you should waste no time in applying for the 24-month interest-free breather offered by the Barclaycard Platinum with Longest Balance Transfer deal.

Please note: Any rates or deals mentioned in this article were available at the time of writing. Click on a highlighted product and apply direct.