Credit cards Date:
The Co-operative Bank has unleashed a 24-month interest-free balance transfer credit card onto the market, earning it an 'excellent' rating for its eye-catching rate and terms.
Balance Transfer Credit Card Visa has a 24-month 0% interest term for balance transfers as well as a four-month interest-free period for purchases, together with an introductory balance transfer fee of just 1.00% (min £5.00).
Balances must be transferred within the first 60 days after the account has been opened in order to qualify for the interest-free deal.
Once the initial offers expire, balance transfers will attract an annual charge of 18.0% while standard purchases will be charged at 18.0% APR.
Borrowers must be aged 18 or over and have a minimum annual income of £10,000 to apply. Applications can be made in branch, online and by phone. Borrowers should remember that rates are representative and dependent on their credit rating.
Remember, in order to secure a mortgage, credit card or personal loan you need to have a good credit rating. To find out if yours has a clean bill of health, contact a credit check provider, such as Experian Credit Expert to investigate your credit report.
This newcomer to the balance transfer market is sure to attract interest from borrowers thanks to its competitive 24-month term. The fact that it also offers borrowers a four-month interest-free purchase term further enhances its appeal, as does the low introductory balance transfer fee.
Moneyfacts rating: Excellent
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 Any products featured may be withdrawn by their provider or changed at any time.
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