Capital One move away from offering long-term 0% deals

Commenting on Capital One's shock move away from offering long-term zero per cent purchases and balance transfers, Peter Harrison, credit card expert at moneysupermarket.com, said: "Credit card applications to Capital One have been the dominant feature of the market this year, so its move today will create an unexpected opportunity for Barclaycard, first direct and Virgin.

"Barclaycard and first direct both have zero per cent purchase deals of 12 months, while Virgin has a 16-month offer on balance transfers. Those who do take advantage of the Virgin balance transfer offer should avoid making any purchases on the card though, or they will face a nasty interest shock."