Virgin Money extends balance transfer deal

Virgin Money is extending the 0% introductory period on its balance transfer (BT) credit card from 14 months to 16 months.

Once the introductory period ends it reverts to a typical interest rate of 18.9% (variable).

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.

The new card also offers 0% interest on card purchases for three months.

Scott Mowbray, spokesman for Virgin Money said: "We're delighted to offer a new and improved balance transfer deal to help customers manage their money. A customer transferring £2,000 from a card with an interest rate of 17.9% could save themselves £385 over 16 months including the balance transfer fee of 2.89%".

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.