Anyone looking for a credit card is set to benefit from greater competition in the market with the length of promotional rates on balance transfers and purchases at an all time high, according to analysis by MoneySupermarket.com.
first direct has launched a credit card offer allowing customers 0% on balance transfers for 20 months.
Halifax is launching its longest ever balance transfer credit card deal, with a market leading 22 month 0% offer now available for new credit card customers.
According to independent financial research company Defaqto, although average credit card APRs have increased by 2.6% since July 2006 the 0% introductory rate offers have become more generous.
Barclaycard has launched a new Platinum card with the longest ever 0% balance transfer period. This is the first time that a 2 year balance transfer card has been launched in the UK market, and is significantly longer than the period offered on other cards.
MBNA has launched a balance transfer credit card with zero per cent interest for 19 months for new customers - its longest ever.
Andrew Hagger of Moneynet looks at the latest trends in the balance transfer segment of the credit card market.
Barclaycard has re-introduced its 18 month 0% balance transfer offer for new Barclaycard Platinum customers. The re-launched deal will be available alongside Barclaycard's record breaking 20 month 0% balance transfer offer, which has been available since mid-March.
Virgin Money is extending the 0% introductory period on its balance transfer (BT) credit card from 16 months to 18 months for new customers.
MBNA launches its longest ever balance transfer offer for new customers in the UK. The MBNA Balance Transfer credit card offers 0% on balance transfers for 18 months from account opening (when made within the first 60 days), with a 2.88% handling fee.
New customers applying for the Barclaycard balance transfer credit card will not only benefit from the UK's longest 0% balance transfer deal of 18 months but will now get 25% off handling fees, when they make more than one balance transfer.
There has been a flurry of activity in the credit card market this week which includes two market leading promotional offers launched by Barclaycard and M&S Money.
Confused.com comments on new 17 month 0% balance transfer offer from Barclaycard.
Over 2.8 million credit card holders will shift a total debt of £2.8 billion onto new credit cards in 2011, according to new research from Santander Credit Cards.
MBNA has launched a market-leading balance transfer offer for new customers. The MBNA Balance Transfer credit card offers 0% on balance transfers for 16 months from account opening (when made within the first 60 days), with a 2.88% handling fee.
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