Clydesdale Bank launch 0 per cent credit card

A new credit card, the Clydesdale and Yorkshire Bank Gold Mastercard, has been launched, offering 0 per cent interest for 16 months on credit card balance transfers, as well as 3 months of 0 per cent interest on all new purchases. At the end of the offer, the interest rate on the card goes up to 16.9 per cent.

This interest period is the longest of any UK credit card, and it also allows those who pay off their bills in full each month to benefit from the interest-free deal to make only the minimum repayment during the 0 per cent period.

Although there is a one-off 3 per cent handling fee for transferring debt balances from other credit cards, which is about that of most other cards, the card carries no annual fee .

The new card also allows you to repay over a
longer term at no extra cost if you have expensive purchases to make, which can be more profitable than the cashback on spending offered by other cards.

With increasing competition, there are a huge amount of credit cards that offer the opportunity to move over to a 0 per cent rate, and many that offer this rate for periods of a year or more. However, the Clydesdale and Yorkshire Bank card is the only one that offers an interest-free period of 16 months.