Credit cards Date:
Lloyds Bank has extended the 0% interest balance transfer offer on its credit card, which has allowed it to move up the charts and secure the top rating.
The newly-named Online Platinum 38 Month Balance Transfer MasterCard has increased its interest-free balance transfer term to a competitive 38 months. This introductory offer comes with a 2.65% fee as well as a six-month 0% interest purchase term.
Balance transfers must be made within 90 days in order to qualify for the introductory offers. Once these expire, balance transfers will be charged at 18.94% per annum (with a 3.00% fee), while standard purchases will be charged at 18.9% APR.
Borrowers must be at least 18 years old and apply online. Applicants should remember that rates are representative and dependent on their credit rating.
By increasing the length of its interest-free balance transfer term, this card has shored up its position in the charts. Borrowers looking for a lengthy term in which to pay down their credit card debt are consequently likely to pay heed to this update. This is an outstanding product that fully deserves the highest Moneyfacts rating.
Moneyfacts rating: Outstanding
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