Credit cards Date:
AA has launched a new credit card onto the market, scoring a coveted place on the Moneyfacts charts and winning an 'excellent' rating in the process.
AA Dual Credit Card MasterCard has a 20-month interest-free balance transfer and purchase introductory period, one of the longest 0% offer for both balance transfers and purchases in its sector.
Balance transfers must be made within 92 days of the card being opened in order to benefit from the 0% deal. A fee of 2.98% will be charged.
After the introductory offers expire, balance transfers will attract interest rates of 19.9% per annum and standard purchases will be charged at 19.9% APR.
Applicants must be at least 18 years or older and have a minimum income of £8,000 to apply. Applications can be made online and by phone. Borrowers should remember that rates are dependent upon their credit rating.
This newcomer on the market has made its presence felt by storming straight into the Moneyfacts charts. Borrowers are likely to welcome its dual 0% interest offers for purchases and balance transfers, although they must ensure that the balance has been cleared by the time the offers end to avoid adding extra interest to their debt.
Moneyfacts rating: Excellent
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