The Virgin credit card now offers 16 months interest free on balance transfers to new applicants, the longest such offer on the market.
With the rising cost of living pushing inflation to a 16 year high, finding cheaper ways to clear your existing debt is essential.
That’s why it’s great to see that the balance transfer market is still fiercely competitive, with no fewer than 15 deals on the market carrying a 0% introductory offer of 13 months or more.
The only downside is that transfer fees have also been on the rise, with anything below 3% now the exception rather than the norm. Don’t let this put you off though – the savings you will make by avoiding interest will far outweigh the fee.
Apply for a Virgin credit card herd
Can re-apply for Virgin
The Virgin credit card has long been one of the best deals on the market, meaning many savvy customers may already have made use of it in the past.
Fortunately, you can still apply again. According to a Virgin spokesperson, anyone who has already transferred a balance from their existing Virgin card to another deal will be eligible to apply for their upgraded offer.
The spokesperson added that the lending criteria on the card had not been changed, so assuming your credit rating has not changed since the last time you applied, you shouldn’t have any problems being accepted.
It’s worth noting mentioning that, along with increasing the balance transfer offer, Virgin has also increased the APR from 15.9% to 16.6%. However, this shouldn’t really matter, as you should look to switch any remaining debt to another 0% card before it starts earning interest.
Compare 0% balance transfer deals
Plenty more deals on the market
As we mentioned at the start, there are a host of other attractive balance transfer cards on the market at present.
The Capital One Platinum card is one of these, offering an impressive 15 months interest free on both transfers and purchases. The downside is you’ll need an excellent credit rating to qualify.
Other deals worth looking at are the Egg card, Barclaycard OnePulse with balance transfer, and Tesco’s MasterCard, which all offer around 14 months interest free.
