by Charlotte Beugge
Just in time
for the Christmas spending frenzy, Virgin Money has launched a new credit card
aimed at those who want 0% on both balance transfers and purchases.
The All Round
credit card has 16 months at 0% on balance transfers and six months 0% on
purchases. There's a balance transfer fee of 2.89% and a representative APR of
15.8%.
To get the 0%
balance transfer deal, the money needs to be moved over within 60 days of
taking the card out - if so, the balance transfer fee is reduced to 1.99%.
In
comparison, Barclaycard Platinum with Purchase has 14 months 0% on both balance
transfers and purchases with a transfer fee of 2.9%. Capital One, RBS/NatWest
and another Virgin card - the Purchase card - all offer 13 months 0% on both
purchases and transfers.
Marks &
Spencer has one of the longest 0% deals on purchases - 15 months. However, the
M&S card doesn't have a 0% balance transfer deal so is best for new
purchases only.
RBS/NatWest's
Platinum Card has increased its 0% balance transfer deal to 20 months but has
increased its purchase rate by 1.3 points to 17.9%. It has also increased its
balance transfer fee to 3.2%.
The longest
0% balance transfer deals are from Barclaycard and Halifax, both of which offer
22 months at 0%.
