Product News - Moneyfacts

Product News

Virgin Money launches new 0% purchase card 02nd December 2016

Virgin Money has launched a new purchase credit card with an introductory purchase term of 27 months, just behind the market-leader. This has allowed the new card to gain a high position in the Best Buys, as well as earning it the highest Moneyfacts rating.
The basics… The Virgin 27 Month Purchase Credit Card MasterCard boasts not only an introductory 0% purchase term of 27 months, but also an introductory balance and money transfer term of 20 months, offering borrowers the full interest-free package. It comes with an introductory balance transfer fee of 2.99% and an introductory money transfer fee of 4%.
The finer details… Balance transfers must be completed within 60 days of issue to benefit from the introductory offer. After the introductory periods have ended, standard purchases will be charged at 19.9% APR, while balance and money transfers will have an annual rate of 19.9% with a 5% fee.
The card can be requested online or over the phone, after which it can also be managed by post. Borrowers must be at least 18 years old, and should remember that rates are representative and dependent on credit ratings.

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Halifax launches low rate credit card 30th November 2016

Halifax has launched a new low rate credit card, whose features have been deemed attractive enough to earn it a place in the Best Buys and give it the highest Moneyfacts rating.

The basics… The Halifax Flexicard MasterCard boasts a standard purchase rate of 6.4% APR, while balance transfers have an annual rate of 6.45% with a 3% fee that is payable after the first three months of account opening.

The finer details… This credit card may not come with any introductory offers, but it does offer monthly instalment plans to help customers organise their repayments.

Borrowers must be at least 18 years old, can apply online and then manage the card in branch, over the phone and via smartphone app as well, and should remember that rates are representative and dependent on credit ratings.

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Sainsbury’s improves low rate credit card 28th November 2016

Sainsbury's Bank has reduced the APR on its low rate credit card by an impressive 4.0%, which has seen it jump to the number two spot of its Best Buy chart, and earned it a high Moneyfacts rating in the process.
The basics… The Sainsbury's Bank Nectar Low Rate Credit Card MasterCard now has a purchase rate of 5.9% APR, while balance transfers keep their 5.94% annual rate and fee-free status.
The finer details… This credit card may not come with any introductory rate offers, but it does come with a reward scheme that earns new customers 5,000 bonus Nectar points for using the card to spend £800 on Sainsbury's shopping and fuel in the first three months, provided they apply by 29.12.16. All borrowers earn two Nectar points per £1 spent on Sainsbury's shopping and fuel, and one Nectar point for every £5 spent elsewhere.
Borrowers must be at least 18 years old, can apply online or by phone and then manage the card by post as well, and should remember that rates are representative and dependent on credit ratings.

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Lloyds cuts balance transfer card fee 28th November 2016

Lloyds Bank has reduced the introductory balance transfer fee on its leading balance transfer card. This has secured its place in the Best Buy chart for its sector and once again earned it the highest Moneyfacts rating.
The basics… The Lloyds Bank Online Platinum 40 Month Balance Transfer MasterCard now has an introductory balance transfer fee of 1.94%, while its introductory balance transfer term remains highly competitive at 40 months from date of issue, and it also still comes with a six-month 0% interest term for purchases.
The finer details… After the introductory periods have ended, balance transfers will be charged at an annual rate of 18.94% with a 3% fee. Standard purchases will be charged at 18.9% APR.
The card must be opened online, after which it can be managed online, in branch, via smartphone app and over the phone. Borrowers must be at least 18 years old, and should remember that rates are representative and dependent on credit ratings.

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Reduced balance transfer card fee 28th November 2016

Bank of Scotland has reduced the introductory balance transfer fee on its leading balance transfer credit card, solidifying its position in the charts and earning it the highest Moneyfacts rating in the process.
The basics… The Bank of Scotland Platinum 40 Month Balance Transfer MasterCard now boasts an introductory balance transfer fee of 1.94%, down 0.04%, complemented by a long introductory balance transfer term of 40 months from date of issue and a six-month 0% interest term for purchases.
The finer details… Balances must be transferred within 90 days of account opening to benefit from the offer. After the introductory periods have ended, balance transfers will be charged at an annual rate of 18.95% with a 3% fee and standard purchases at 18.9% APR.
Borrowers must be at least 18 years old, can apply online or over the phone, and should remember that rates are representative and dependent on credit ratings.

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Barclaycard improves 0% credit card 07th November 2016

Barclaycard has reduced the introductory balance transfer fee on its 32-month 0% balance transfer credit card, making it even more cost-effective and earning it a high Moneyfacts rating in the process.

The basics…

The Barclaycard Platinum 32 Month Balance Transfer Visa now boasts an introductory balance transfer fee of 0.64%, while keeping its introductory interest-free term at 32 months. It also has an introductory 0% purchase term of six months after date of issue.

The finer details…

Balances must be transferred within 60 days of account opening in order to benefit from the offer. After the introductory periods have ended, balance transfers will be charged at an annual rate of 18.9% and standard purchases will be charged at 18.9% APR.

Borrowers must be at least 18 years old and should remember that rates are representative and dependent on credit ratings.

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Halifax’s balance transfer card stays top 04th November 2016

Halifax has cut the introductory balance transfer fee on its leading balance transfer credit card by 0.20%, which sees it solidify its position at number one in the Best Buy chart of its sector, earning it an Outstanding rating in the process.

The basics… The Halifax 41 Month Balance Transfer Credit Card MasterCard now offers an introductory balance transfer fee of 3.24%. It retains its joint-longest introductory balance transfer term of 41 months from date of issue and also boasts a six-month 0% interest term for purchases.

The finer details… Balances must be transferred within 90 days of account opening in order to benefit from the offer. After the introductory periods have ended, balance transfers will be charged at an annual rate of 18.95% with a 3% fee. Standard purchases will be charged at 18.9% APR.

Borrowers must be at least 18 years old, can apply online or over the phone, and should remember that rates are representative and dependent on credit ratings.

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Lloyds Bank cuts balance transfer card fee 27th October 2016

Lloyds Bank has cut the introductory balance transfer fee on its leading balance transfer card by 0.41%. This has made an Outstanding card even more impressive and allowed it to improve its position in the Best Buy chart for its sector.
The basics… The Lloyds Bank Online Platinum 40 Month Balance Transfer MasterCard now has an introductory balance transfer fee of 1.98%, while its introductory balance transfer term remains highly competitive at 40 months from date of issue, one of the longest available. It also still comes with a six-month 0% interest term for purchases.
The finer details… After the introductory periods have ended, balance transfers will be charged at an annual rate of 18.94% with a 3% fee. Standard purchases will be charged at 18.9% APR.
The card must be opened online, after which it can be managed online, in branch, via smartphone app and over the phone. Borrowers must be at least 18 years old, and should remember that rates are representative and dependent on credit ratings.

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Balance transfer credit card even more competitive 27th October 2016

Bank of Scotland has reduced the introductory balance transfer fee on its leading balance transfer credit card. This has improved its position in the Best Buy chart for its sector and earned it the highest Moneyfacts rating in the process.
The basics… The Bank of Scotland Platinum 40 Month Balance Transfer MasterCard now boasts an introductory balance transfer fee of 1.98%, complemented by a long introductory balance transfer term of 40 months from date of issue and a six-month 0% interest term for purchases.
The finer details… Balances must be transferred within 90 days of account opening to benefit from the offer. After the introductory periods have ended, balance transfers will be charged at an annual rate of 18.95% with a 3% fee and standard purchases at 18.9% APR.
Borrowers must be at least 18 years old, can apply online or over the phone, and should remember that rates are representative and dependent on credit ratings.

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Sainsbury’s Bank improves 0% purchase card 13th October 2016

Sainsbury's Bank has extended the introductory term on its leading 0% purchase credit card, while at the same time reducing its introductory balance transfer fee by 0.11%. This has made an already outstanding card even more appealing, strengthening its position in the Moneyfacts chart for its sector.
The basics… The Sainsbury's Bank Nectar Purchase Credit Card MasterCard now has an introductory purchase term of 28 months (up from 27 months). Its introductory balance transfer fee now stands at 2.89%, and it maintains its introductory balance transfer term of 18 months from date of issue.
The finer details… After the introductory periods have ended, standard purchases will be charged at 18.9% APR. Balance transfers, meanwhile, will have an annual rate of 18.95% with a 3% fee.
As an added bonus, regular Sainsbury's customers can earn 5,000 extra Nectar points when using the card to spend at least £800 on Sainsbury's shopping and fuel in the first three months. This is in addition to the two Nectar points that are gained for every £1 spent on Sainsbury's shopping and fuel, and the one Nectar point earned on every £5 spent on the card elsewhere.
The card can be opened online or over the phone, after which it can also be operated by post. Borrowers must be at least 18 years old, and should remember that rates are representative and dependent on credit ratings.

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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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