Balance transfer credit card takes the top spot | Product News - Moneyfacts

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Balance transfer credit card takes the top spot

Balance transfer credit card takes the top spot

Category: Credit cards
Date: 29/01/2016

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 It is now over 6 months old so the content may be out of date.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 re-launched its market-leading 40-month balance transfer credit card, seeing it storm straight back to the top of the Moneyfacts charts and earn an "outstanding" rating in the process.

The basics…

The 40 Month Balance Transfer Credit Card MasterCard boasts the joint-longest introductory term available, together with a reduced balance transfer fee of 2.89%. It also comes with a 40-month interest-free term for money transfers (with a 4% fee), as well as 0% on purchases for three months. However, this is a limited-time only offer and will be withdrawn on 14.2.16, so customers will need to be quick to take advantage!

The finer details…

Balance and money transfers must be made within 60 days of account opening in order to qualify for the introductory deals. After their respective introductory periods, balance transfers will be charged at an annual rate of 18.9% and money transfers at 20.9%, both with a 5% fee. Standard purchases will be charged at 18.9% APR.

Borrowers must be at least 18 years-old to apply and should remember that rates are representative and dependent on credit ratings.

Why we like it…

The re-launch of the popular credit card certainly won't go unnoticed, with its market-leading terms giving borrowers over three years to clear their debts before interest is applied. It's taken the top spot with good reason, being 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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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