New 36-month 0% balance transfer card | Product News - Moneyfacts

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New 36-month 0% balance transfer card

New 36-month 0% balance transfer card

Category: Credit cards
Date: 27/02/2015

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 It is now over 6 months old so the content may be out of date.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 unveiled a new range of credit cards, one of which is offering 36 months of 0% interest on balance transfers, enabling it to shoot straight into the Moneyfacts charts.

The basics…

Virgin Extended Balance Transfer Credit Card MasterCard offers up to 36 months of 0% interest on balance and money transfers, a joint market-leading offer. It also gives borrowers up to six months of 0% interest on purchases.

The finer details…

After the introductory period ends, the standard purchase rate increases to 18.9% APR, while the standard balance and money transfer rates rise to annual rates of 18.9% and 20.9% respectively.

Transfers must be made within 60 days to qualify for the deal and will result in reduced fees of 3.49% for balance transfers and 4.00% for money transfers. After the end of the introductory offer, fees will increase to 5.00% for both balance and money transfers.

Borrowers must be aged at least 18 to apply. Applications can be made online or by phone and then managed in the same way. Borrowers should remember that all rates depend upon their credit history.

Why we like it…

This card offers one of the longest 0% balance transfer periods in its sector, which is certainly likely to appeal to those who want to reduce the cost of their credit card spending. The lengthy offer of six months of 0% interest on purchases also adds to the appeal and ensures this product's place near the top of the charts.

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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