40-month balance transfer card relaunched | Product News - Moneyfacts

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40-month balance transfer card relaunched

40-month balance transfer card relaunched

Category: Credit cards
Date: 30/11/2015

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.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.

The basics…

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.

The finer details…

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.

Why we like it…

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 Any products featured may be withdrawn by their provider or changed at any time.

 

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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