Credit cards Date:
Virgin Money has relaunched its highly popular 40-month interest-free balance and money transfer credit card, which has flown straight to the top of the Moneyfacts charts as a result.
40 Month Balance Transfer Credit Card MasterCard offers borrowers a market-leading 40-month 0% interest term on balance and money transfers as well as a three-month interest-free term for purchases. This offer is available until 16.12.15.
Balance and money transfers made within the introductory periods will be charged fees of 2.99% and 4.00% (minimum £3.00) respectively. Transfers must be made within 60 days of the account being opened in order to benefit from the 0% interest deals.
Once the initial offers expire, balance transfers will be charged at 18.9% per annum with a fee of 5.00%, while money transfers will attract a yearly charge of 20.9% (with the same 5.00% fee) and standard purchases will be charged 18.9% APR.
Borrowers must be at least 18 years old to apply. Applications can be made either by phone or online.
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 return of this market-leading deal is bound to make borrowers sit up and take notice. Boasting the longest available interest-free period for both balance and money transfers, albeit for a limited period, this card will appeal to those who are looking to clear their credit card balances over the long term. The fact that it also offers a three-month interest-free term for purchases is another bonus. 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 Any products featured may be withdrawn by their provider or changed at any time.
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