Virgin Money 18 month credit card balance transfer deal

Virgin Money is extending the 0% introductory period on its balance transfer (BT) credit card from 16 months to 18 months for new customers.

Once the introductory period ends it reverts to a representative rate of 16.8% APR (variable).

Balance transfers attract a fee of 2.89% and the introductory rate only applies to transfers made within the first 60 days.

The card continues to offer 0% on card purchases for the first three months.

Grant Bather, spokesman for Virgin Money said: "We are delighted to launch this new credit card balance transfer deal which can help make our customers better off. The new 18 month 0% balance transfer deal is great for customers who are looking for some extra breathing space to pay down their debt. A customer transferring £2,000 from another card with an interest rate of 16.9% could save themselves £415 over 18 months including the balance transfer fee of 2.89%".

Virgin Money credit cards also incorporate contactless technology allowing customers to pay for items up to £15 hassle free just by holding their card to a reader without having to enter their PIN.

Representative example: 16.8% p.a. (variable) on card purchases. This is equivalent to 16.8% APR representative (variable) based on a credit limit of £1,200.