Clydesdale and Yorkshire Bank has today launched a market-leading 0% balance transfer deal of 16 months on its Gold MasterCard.
The card also offers three months at 0% on all purchases, after which the standard APR reverts to a 16.9% typical rate. There is no annual fee.
The best 0% balance transfer credit card on the market
Martyn Saville, Which? credit card expert, commented: ‘It’s fantastic to see new competitive deals like this one come onto the market. This new 0% balance transfer offer from Clydesdale and Yorkshire Bank takes the top spot recently vacated by Virgin Money when it cut its 0% deal from 16 to 14 months. If you’re looking for a new credit card to switch your existing balance to, you’ll be hard-pressed to beat this new offer.
‘I would, however, strongly recommend anyone taking out the card to avoid the 3-month purchases deal if you’re also transferring a balance to the card. Yorkshire Bank uses a date-based order of payments system, so any repayments you make are allocated to the oldest debt first. This means that if you transfer a balance and then spend on the card, all repayments you make will go against the balance transfer. Once the 3-month promotional period on purchases runs out, you’ll pay the full APR of 16.9% on every penny of those purchases until the balance transfer is paid off in full.’
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If you need advice to help you choose the best credit card for your needs, read the free Which? guide to choosing a credit card.
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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