Credit card extends its 0% purchase term | Product News - Moneyfacts

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Credit card extends its 0% purchase term

Credit card extends its 0% purchase term

Category: Credit cards
Date: 27/08/2015

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 It is now over 6 months old so the content may be out of date.

Clydesdale and Yorkshire Banks have extended the interest-free period for purchases on their credit cards to a market-leading 26 months, earning both cards the top accolade from Moneyfacts in the process.

The basics…

Gold MasterCard (available through both banks) now has market-leading interest-free purchase term of 26 months, the longest 0% purchase term currently available. A 12-month 0% balance transfer term is also available with a fee of 3.00% (minimum £3.00).

The finer details…

Once the introductory offers expires, standard purchases will attract a charge of 18.9% APR, while balance transfers will have a rate of 11.9% per annum (again with a 3.00% fee).

Borrowers must be at least 18 years old to apply for either of the cards. Applications can be made in branch, online and by phone. Borrowers should remember that rates are representative and dependent on their credit rating.

Why we like it…

The extension of the 0% interest period on purchases has pushed these deals to the very top of the charts. Borrowers looking to make a big purchase with a bit of extra breathing space are therefore likely to welcome these new offers. However, they should ensure that the debt is repaid before the offer expires to avoid the addition of interest later on. These are outstanding products that fully deserve 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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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