Last chance to bag longest ever 0% balance transfer credit card from Virgin Money
There's not long left to take advantage of Virgin Money's extraordinary 40-month 0% balance transfer deal.
Time is running out to take advantage of the longest 0% balance transfer deal ever seen.
The Virgin Money Balance Transfer Credit Card comes with a 40-month 0% interest period on balance transfers, with a 2.99% transfer fee.
It also offers 40 months interest-free on money transfers, which allows you to move cash from your credit card to your current account. This attracts a 4% transfer fee.
If you like the sound of this deal, you’ll need to act quickly as it’s due to be withdrawn from sale on the morning of 10th September.
How it compares
Here is how the Virgin Money credit card compares to the other longest 0% balance transfer deals on the market.
|
Credit card |
0% period on balance transfers |
Balance transfer fee |
Cost of transferring £2,000 balance |
Representative APR |
|
40 months |
2.99% |
£59.80 |
18.9% |
|
|
36 months |
2.39% |
£47.80 |
18.9% |
|
|
36 months |
2.45% |
£49 |
18.9% |
|
|
36 months |
2.48% |
£49.60 |
18.9% |
|
|
36 months |
2.50% |
£50 |
18.9% |
|
|
36 months |
2.79% |
£55.80 |
18.9% |
|
|
Bank of Scotland Platinum 36-Month Balance Transfer Credit Card |
36 months |
3% |
£60 |
18.9% |
|
36 months |
3% |
£60 |
18.9% |
As you can see all the other top deals offer four months less to help tackle your debt.
Compare the credit cards with the longest 0% period
Why go for a 0% balance transfer credit card?
A 0% balance transfer deal is a useful tool for getting back in control of your credit card debt.
As you pay no interest on your balance for a set time, you can pay it off in manageable chunks, confident in the knowledge that every penny is going directly towards reducing the size of your debt.
You will generally have a pay a transfer fee when you move a balance over. Generally, the longer the 0% period, the larger the fee you will have to pay.
However, there are a couple of fee-free and cheap options about. Read The best low-fee balance transfer credit cards for more.
How to pick a deal
The key to finding the right interest-free balance transfer credit card for you is to strike a balance between the length of the 0% period and the fee.
One way to do this is to work out how much you can afford to repay each month, which will give you an idea of what sort of 0% period you will need in order to tackle your outstanding balance. Then it's just a case of picking from the range that suits your situation.
Take a look at The best 0% balance transfer credit cards to see the top longer lasting deals as well as the best free and low-fee options side by side.
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