Credit cards Date:
Lloyds Bank has reduced the introductory balance transfer fee on its 32-month balance transfer credit card by 0.15%, earning an 'excellent' rating as a result.
Online Platinum 32 Month Balance Transfer Credit Card MasterCard now has an introductory fee of 1.39% (after a partial refund), one of the lowest fees available in its sector. Balances must be transferred within 90 days of the card being opened in order to benefit from the deal.
As well as a 32-month interest-free balance transfer period, this card also gives borrowers a six-month 0% purchase term. Once the initial offers expire, purchases will be charged at 18.9% APR, while balance transfers will have an annual rate of 18.94% with a fee of 3.00% (min £3.00).
Borrowers must be at least 18 years old to apply and applications must be made online. Borrowers should remember that rates are representative and dependent on their credit history.
The reduction to the balance transfer fee has enhanced this deal's competitiveness and is sure to catch the eye of borrowers who are looking to clear their outstanding balance and keep costs down. However, in order to benefit most from the interest-free deals, borrowers should ensure that they pay off the balance before the offers end and interest kicks in.
Moneyfacts rating: Excellent
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