Credit cards Date:
Virgin Money has upped the ante in the balance and money transfer credit card market by increasing the term of its 0% interest balance and money transfer card to 39 months, enabling it to sit just behind the current market-leaders.
The newly-named Virgin 39 Month Balance Transfer Credit Card MasterCard now offers borrowers a 39-month interest-free period for both balance and money transfers, with introductory fees of 2.89% and 4.00% respectively (both min £3.00). Borrowers can also take advantage of a three-month 0% interest term for purchases.
Transfers must be made within 60 days in order to benefit from the introductory offers. Once these expire, balance transfers will attract an annual charge of 18.9% with a fee of 5.00% (min £5.00), while money transfers will be charged at 20.9% per annum with a fee of 5.00% (min £5.00). Standard purchases will be charged at 18.9% APR.
Borrowers must be at least 18 years old to apply for this card and applications can be made by phone and online.
Borrowers who are looking for a highly competitive deal that will allow them to pay off their outstanding credit card debts over the long term are likely to find this updated deal a cost-effective choice. Not only does it boast a lengthy 39-month interest-free period for balance transfers, but it also offers the same term for money transfers, giving borrowers an attractive level of flexibility. The three-month 0% interest purchase period further sweetens this deal. This is an outstanding product that fully deserves the highest Moneyfacts rating.
Moneyfacts rating: Outstanding
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 Any products featured may be withdrawn by their provider or changed at any time.
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