Virgin Money offers 0% credit card balance transfer
Virgin Money has today broken free from the pack of credit card providers in the UK to launch a fee free balance transfer card offering 0% interest for nine months. This is by far and away the most attractive of the balance transfer credit cards on the market at the moment although as with any financial investment, you need to ensure that the products you are purchasing or considering purchasing suit your requirements. There will no doubt be something of a stampede for this particular credit card as it will only be available for a limited time.
Virgin Money promises to transfer third-party balances within 60 days of the accounts being opened although once the nine-month interest-free period has run out, the card would revert to an interest rate of 18.6%. Even though Virgin Money has another Virgin Credit Card which offers a 0% balance transfer for 16 months there is a 2.98% balance transfer fee associated with this one.
It will be interesting to see if other credit card providers in the UK follow the lead of Virgin Money or whether we will have to wait for any similar offers to become available.
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