Credit cards Updated:
Things are definitely hotting up in the balance transfer market. Credit card providers are actively competing for your business with new products being launched – or improved – on a regular basis, with everyone clamouring to offer the longest balance transfer period and the best possible terms.
So why not take advantage of it?
Barclaycard has long been the leader when it comes to balance transfer credit cards, consistently taking the top spot in the Moneyfacts best buys by offering the longest balance transfer periods available.
It seems they're not willing to let anyone else get a look in either – just last week Halifax upped its 0% balance transfer period to 31 months, taking joint lead, so in response Barclaycard launched a whole new card that offers 0% interest on balance transfers for a full 32 months.
It was a swift response with Barclaycard launching their new offering in a matter of days, showing how seriously they take the market and how unwilling they are to compromise. Plus, it means they now boast the longest interest-free term ever provided, giving borrowers almost three years to pay off their debt.
The balance transfer war is definitely raging and it'll be interesting to see if any other providers try to steal the Barclaycard crown, but in the meantime here's a quick overview of the top three balance transfer credit cards:
(Information & rates correct as at 14.05.2014)
To really make the most of the balance transfer war and to ensure you're getting the best value possible, there are several things you'll need to remember. Here are a few key points to bear in mind:
It's a great time to get on the balance transfer bandwagon with competition being fierce, giving you the chance to benefit from record deals and highly impressive rates. So, if you've got a balance that needs sorting, make sure to consider transferring it to one of these cards to clear your debt without pesky interest adding to your woes.
Repay your debt sooner with a 0% balance transfer card
Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.
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