Related Credit Card Article

"Natwest overtakes Virgin on balance transfer credit card"

By Reno | July 16th, 2010 | Balance Transfers

For some time now Virgin Money has enjoyed taking the top spot as the market leader in the UK with its balance transfer credit card, which offered fourteen months interest free credit on balance transfers. Charging a transfer fee of just under 3 percent the card enabled consumers to transfer the balances from other high interest credit cards and then repay the transferred debt over fourteen months without having to pay any interest.

However, Virgin has now been knocked off its top spot following an offer that has been made available through the Natwest bank. The Natwest Platinum Credit Card has now taken the top spot as market leader for balance transfer credit cards after the bank extended the interest free period that was offered to customers by one month.

From this week both the Natwest and RBS Platinum credit cards will offer sixteen months of interest free credit on balance transfers, giving consumers even more time to repay their transferred balance without having to pay any interest on the debt, and overtaking the Virgin card by two months. The cards will continue to offer three months of interest free credit on purchases made on the cards.

The credit cards also offer a balance transfer fee that is very slightly lower than the one charged on the Virgin card, charging 2.9 percent. The offer on the Platinum credit cards from Natwest could really benefit consumers that have balances outstanding on other high interest credit cards, which could be costing them a fortune in interest if they are only making minimum or gradual repayments.

Consumers that are looking for balance transfer credit cards are advised to ensure that they look at both the interest free period being offered and the transfer fee that is charged.

Tags: virgin, transfer, interest, Credit Cards, market leader, Natwest, balance

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