Credit cards Date:
Lloyds Bank has increased the terms of its introductory offers for balance transfers and purchases on its 0% credit card, enabling it to climb towards the very top of the Moneyfacts charts.
The newly-named Platinum 24 Month Purchase and Balance Transfer MasterCard now offers borrowers 24 months of interest-free purchases and balance transfers, the latter of which comes with an introductory fee of 2.50%.
Balances must be transferred within 90 days of opening an account in order to qualify for the introductory 0% interest deal. Once the initial offers come to an end, balance transfers will attract an annual charge of 18.94% (with a fee of 3.00%), while standard purchases will be charged a rate of 18.9% APR.
Borrowers must be at least 18 years old and apply online. Applicants should remember that all rates are representative and dependent on their credit history.
By increasing the interest-free terms on this credit card, Lloyds Bank has made it a serious contender. Now sitting near the very top of its sector, this card is likely to be very attractive to those who are looking to both spread the cost of their borrowing and tackle outstanding credit card debts, making it an outstanding product that fully deserves the highest Moneyfacts rating.
Moneyfacts rating: Outstanding
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