NatWest and RBS have launched a table-topping 0% balance transfer deal of 16 months on their Platinum credit card.
Which? credit card expert Martyn Saville commented: ‘The new deal from NatWest and RBS is excellent news for consumers with a balance on their credit card that they’re keen to transfer to a 0% deal.
‘The 16-month offer matches the deal currently available from Yorkshire and Clydesdale Bank, but whereas Yorkshire and Clydesdale are currently only taking applications from new customers in-branch, the Platinum card from NatWest and RBS is available online.’
Don’t apply in-branch or by telephone
The 16-month deal is only available if you apply online. Consumers applying in-branch or by telephone will only get 12 months at 0% on balance transfers. As with most 0% balance transfer deals, a 2.9% transfer fee applies.
The card comes with a standard APR of 16.9%, making it uncompetitive for shopping. Consumers should also ignore the 3-month introductory 0% deal on purchases as RBS and NatWest use a negative order of payments. If you use the card for further purchases once you’ve transferred a 0% balance to it, every penny of your repayment will be allocated against the interest-free balance transfer, leaving your purchases to rack up interest from the moment the introductory 3-month purchase offer runs out.
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