Virgin take the top spot on the balance transfer best buys

Chris Griffiths, head of Credit Cards at Confused.com: "Today Virgin have improved their credit card offering and top the best buys as the new market leading balance transfer card.  With 0% interest on balance transfers for 16 months, and a typical APR of 16.8%, it just edges ahead of the MBNA Platinum card courtesy of the 2.89% BT handling fee.  RBS and NatWest have also extended their 0% BT period back up to 16 months, although the cards continue to be available to existing current account customers only.

This type of competition is great for those looking to consolidate existing debts, with significant savings to be made over 16 months if the balance stays interest free.  A typical customer transferring a balance of £2,200 could save £447 over 16 months compared to those paying the average 18.69% APR.

"These introductory offers won't stay around forever so customers need to move quickly. Shopping around is the simplest way to find the best card to suit every personal circumstance. Customers should consider what cards they currently hold and where they are looking to move a balance from as these factors will influence the options available. It is also crucial to be responsible and stay within the credit limit as well as ensuring payments are up to date or else there is a risk the introductory offer will be withdrawn"