Virgin Money today cut the length of it’s 0% balance transfer deal from 16 months to 14 months, losing its long-held position at the top of the Which? Best Rate table for 0% balance transfer credit cards.
The new 14-month 0% credit card deal is still competitive, but is beaten by the 15 months on offer from Barclaycard and Santander. The Virgin card, issued by credit card giant MBNA, does not accept transfers from other MBNA credit cards. Customers who have already successfully applied for the Virgin card will continue to enjoy the 16-month deal they signed up for.
Virgin 0% credit card deal is still competitive
Martyn Saville, Which? credit card expert, commented: ‘Virgin has topped the league table for credit card balance transfers for such a long time, it’s disappointing to see it cut back its 0% deal now. While Virgin scores a below-average 56% satisfaction score amongst Which? members, the deal itself was market-leading. This cut is hopefully not a sign of things to come – consumers are struggling enough to find competitive credit card offers.’
To find out how much you could save by transferring your existing credit card balance to a new 0% credit card, use our free balance transfer calculator. Alternatively, to see how much quicker you could pay off your existing debt by making an extra monthly payment, try our credit card repayment calculator.
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Once you know the best type of card for you, check out Which? Best Rate credit cards to find the most competitive deal available today, whether it’s a cashback card, a card offering 0% on purchases or the longest 0% deal on balance transfers.
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