Barclaycard, part of Barclays Retail and Business Banking and a global payment business has announced new offers to meet the requirements of its customers: the High 5 and Platinum cards.  

As consumers are looking for better deals and incentives on credit, Barclaycard has seen a large decrease in loan applications, but a small increase in credit cards.

According to TGI Market Survey, the number of households with children that owned up to four credit cards has decreased by 12 percent year on year, showing that consumers now are looking to consolidate into single output cards.

The survey also says that the 2 percent rise in households with two credit cards shows that consumers find it easier to manage smaller numbers of cards, with the right deals. Households with two small loans have also decreased by 10 percent year on year. Barclaycard found a trend towards smaller finance options with more attractive offers, such as longer interest free periods for first time customers or higher cashback incentives and reduced annual fees.

With this information, Barclaycard has introduced the Platinum credit card with 27 month interest free period for balanced transfers. They also developed the five cashback card, which offers 2 percent cashback on the consumer's five highest monthly purchases and 0.5 percent on the rest.

Nick Clements, managing director at Barclaycard, stated, "The summer may be off to a slow start this year, but this hasn't stopped us making our market leading deals even hotter this June.”

The deals on Barclaycard's High 5 and Platinum cards is cutting the balance transfer fee on its Freedom Rewards card from 2.90 percent to 2.47 percent which offers 0 percent for 9 months on balance transfers. Customers can also receive an extra two months interest free on purchases for customers new to credit.

Clements adds, "Whether you're looking to transfer a balance, earn cash back or points on your spending, or just build your credit rating, these deals are the best you'll find during June.”