New money & balance transfer credit cards | Product News - Moneyfacts

Product News

New money & balance transfer credit cards

New money & balance transfer credit cards

Category: Credit cards
Date: 03/11/2015

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 It is now over 6 months old so the content may be out of date.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 launched two new money and balance transfer credit cards onto the market, both of which have earned the top rating thanks to their eye-catching rates and terms.

The basics…

36 Month Money Transfer Credit Card Mastercard has a 36-month interest-free money and balance transfer period, one of the longest available in its sector. An introductory fee of 2.39% will apply to all transfers. Borrowers can also take advantage of a three-month interest-free purchase term.

Meanwhile, the 32-month version gives borrowers an interest-free money and balance transfer term of 32 months, which carries a 1.69% fee. A three-month interest-free purchase period also applies.

The finer details…

In order to qualify for the 0% interest terms, money and balances must be transferred within 60 days. After the initial offers expire, money transfers will be charged an annual rate of 20.9%, while balance transfers will carry a charge of 18.9% per annum and standard purchases will be charged at 18.9% APR.

Borrowers must be at least 18 years old to apply. Applications can be made online and by phone.

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 CreditExpert to investigate your credit report.

Why we like them…

Borrowers who are looking to transfer money and clear their credit card balances are likely to be intrigued by these two newcomers. Both offer lengthy 0% interest transfer terms, with the 36-month version being one of the longest currently available, as well as offering a generous three-month interest-free purchase term. As a result, both cards fully deserve 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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
Close