Interest-free BT card gets a longer term | Product News - Moneyfacts

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Interest-free BT card gets a longer term

Interest-free BT card gets a longer term

Category: Credit cards
Date: 22/04/2016

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 It is now over 6 months old so the content may be out of date.

Lloyds Bank has increased the introductory 0% interest term for balance transfers on its balance transfer credit card, pushing it further up the Moneyfacts charts as a result.

The basics…

The re-named Lloyds Bank Online Platinum 39 Month Balance Transfer MasterCard now offers borrowers 39 months of interest-free balance transfers with an introductory fee of 2.95%. It also has a six-month 0% interest term for purchases.

The finer details…

In order to receive the 0% interest offer, balances must be transferred within 90 days of opening an account. Once the initial offers expire, balance transfers will attract an annual charge of 18.94% (with a fee of 3.00%), while standard purchases will be charged at 18.9% APR.

Borrowers must be at least 18 years old and aware that rates are representative and dependent on their credit rating. Applications must be made online.

Why we like it…

By increasing the 0% interest balance transfer term, Lloyds Bank has given this card the propulsion it needs to climb up the charts. This is certain to make borrowers who are looking for a lengthy term in which to clear their credit card debts take notice, and means it 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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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