Credit cards Date:
Bank of Scotland has increased the interest-free term for both purchases and balance transfers on one of its credit cards, thereby securing its position on the Moneyfacts charts.
The card has now been re-named as Platinum 24 Month Balance Transfer MasterCard, and it offers borrowers 24 months of interest-free balance transfers and purchases. An introductory fee of 2.5% will apply to balance transfers.
To qualify for the initial balance transfer deal, borrowers must ensure that they transfer their balances within 90 days of opening an account. After the introductory offers come to an end, standard purchases will be charged at 18.9% APR, while balance transfers will be charged at 18.95% per annum with a fee of 3.00%.
Borrowers must be at least 18 years old and can apply online or by phone. Applicants should remember that rates are representative and dependent on their credit rating.
Bank of Scotland has pushed this card further up the charts by increasing the length of its 0% interest offers. This is likely to be noticed by borrowers who are looking for a cost-effective way to spread the cost of their purchases while also managing their existing credit card debt. This is an outstanding product that fully deserves the highest Moneyfacts rating.
Moneyfacts rating: Outstanding
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