Virgin Money has boosted the 0% period on its balance transfer credit card from 14 months to 16 months, taking it to joint top of the Which? Best Rate 0% balance transfer table.
Balance transfers attract a fee of 2.89% and the introductory rate only applies to transactions made within 60 days of the account opening date. Once the introductory period ends it reverts to a typical interest rate of 18.9% (variable). The new card also offers 0% interest on card purchases for three months.
As the Virgin Credit Card is issued by MBNA you can’t transfer a balance from another credit card issued by them.
All new Virgin Money Credit Cards will incorporate contactless technology allowing customers to pay for items worth up to £15 just by swiping their card.
- UPDATE: NatWest and RBS have also announced they are extending the 0% balance transfer period on their Platinum MasterCard credit cards to 16 months. The cards are available to existing current account customers.
Top tips on spreading the cost of Christmas and earning credit card rewards
A balance transfer card is a good choice if you already owe money on another card, but should not be used for further shopping. To find out how you could spread the cost of Christmas interest-free, as well as earning money on your shopping, read our news story Pay no interest for a year on Christmas shopping.
If you pay off your credit card bill in full every month, find out how to earn money back with our news story Get up to 5% rewards on your Christmas shopping.
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