Credit cards Date:
Virgin Money has boosted the length of its 0% interest term for balance and money transfers on its credit card to 40 months, securing it pole position in the Moneyfacts charts as a result.
The newly-named 40 Month Balance Transfer Credit Card MasterCard now has a joint market-leading interest-free term of 40 months for both balance and money transfers. The introductory balance transfer fee has also been reduced to 2.59%, while the fee for money transfers stands at 4.00% during the initial offer. In other good news for borrowers, the card also comes with a three-month interest-free term for purchases.
Balances must be transferred within 60 days in order to be eligible for the attractive 0% interest deal. Once the initial offers expire, balance transfers will be charged at an annual rate of 18.9% (with a fee of 5.00%), while money transfers will be charged at 20.9% per annum (also with a fee of 5.00%) and standard purchases at 18.9% APR.
Borrowers must be at least 18 years old to apply. Applications can be made by phone or online.
Borrowers hunting for a highly competitive deal will certainly be arrested by this latest update from Virgin Money. Now boasting a joint market-leading 40-month interest-free term for balance and money transfers, this deal is currently sitting pretty at the very top of the charts. The fact that the introductory balance transfer fee has also been cut is just the cherry on the cake for this outstanding deal.
Moneyfacts rating: Outstanding
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