Market-leading balance transfer card launched | Product News - Moneyfacts

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Market-leading balance transfer card launched

Market-leading balance transfer card launched

Category: Credit cards
Date: 21/08/2015

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 It is now over 6 months old so the content may be out of date.

Virgin Money has topped the Moneyfacts charts with its new 40-month 0% balance transfer credit card, receiving an 'outstanding' rating as a result.

The basics…

Virgin 40 Month Balance Transfer Credit Card MasterCard offers borrowers a market-leading 40-month 0% introductory balance and money transfer period, enabling it to take the top spot in the charts. It also offers 0% on purchases for the first three months.

The finer details…

Money and balance transfers must be made within 60 days of the account being opened in order to qualify for the interest-fee period. Balance transfers will be charged an introductory fee of 2.99% while money transfers have a fee of 4.00% (both have a minimum charge of £3.00).

After the introductory offers expire, standard purchases will be charged at 18.9% APR. Balance transfers will then attract a fee of 5.00% and an annual charge of 18.9%, while money transfers will be charged at a yearly rate of 20.9%.

Borrowers must be at least 18 years old in order to qualify. Applications can be made online and must be submitted by 9.9.15, after which the card will no longer be open to new applicants.

Why we like it…

Virgin Money has taken the highly competitive balance transfer market by storm with this new deal. Offering a market-leading 40-month interest-free balance and money transfer period, this card stands well above its competitors, something that is sure to capture the attention of borrowers. However, interested applicants should ensure that they move quickly, as this offer will only be on the table for a limited amount of time. This is 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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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