Credit cards Date:
Post Office Money has reduced the price of its introductory balance transfer fee by 0.07%, earning it an 'excellent' rating as a result.
Balance Transfer Credit Card MasterCard now has a fee of just 0.33% (after a partial refund) for balance transfers made during its introductory offer.
This card has a 26-month interest-free balance transfer period as well as a three-month 0% purchase term. Money transfers are also accepted and will be charged at 18.9% per annum with a fee of 2.98%.
Balances must be transferred within 92 days of the account opening for the interest-free offer to apply. Once the initial offers expire, balance transfers will attract a charge of 18.9% per annum with a fee of 2.98%, while purchases will be charged at 18.9% APR.
Borrowers must be at least 18 years old to apply and have an annual income of at least £8,000. Applications must be made by phone. Borrowers should also remember that rates are representative and based on their credit rating.
Remember, in order to secure a mortgage, credit card or personal loan you need to have a good credit rating. To find out if yours has a clean bill of health, contact a credit check provider, such as Experian Credit Expert to investigate your credit report.
The reduction of the introductory balance transfer fee to just 0.33% is sure to catch the eye of borrowers who are looking to clear their outstanding credit card balances and keep costs down. The fact that this card also offers an interest-free purchase term is also an appealing feature and ensures that it deserves its 'excellent' rating.
Moneyfacts rating: Excellent
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 Any products featured may be withdrawn by their provider or changed at any time.
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