18 May 2007
Despite the recent rise in base rate to 5.5 per cent, credit card issuers continue to offer zero per cent introductory deals to attract new business.
Barclaycard’s Flexi-Rate credit card has an introductory offer of zero per cent interest on balance transfers until 1 July 2008, but with a 2.9 per cent transfer fee. So a £5,000 transfer from another card would cost you £145 upfront.
The Flexi-Rate card also provides zero per cent interest on purchases for three months from account opening, with a typical ‘go-to’ rate at the end of the introductory period of 14.9 per cent.
From 21 May, NatWest and Royal Bank of Scotland are offering new credit card customers 13 months’ zero interest on balance transfers and three months’ zero interest on purchases. However, balances transfers will cost 2 per cent of the amount transferred so a £5,000 transfer would cost you £100.
Both banks will offer a typical ‘go-to’rate of 13.9 per cent APR variable at the end of the introductory period.
For existing RBS and NatWest account holders who have one of the following packages – NatWest Advantage Gold, RBS Royalties Gold, RBS Royalties Premier – the banks are lowering the variable rate for balance transfers and purchases to a variable rate of 12.9 per cent.
MINT, RBS’ direct financial services company, is offering new credit card customers a zero per cent interest deal on balance transfers until 1 August, 2008 and zero per cent on purchases until 1 January 2008. The balance transfer fee is 2.5 per cent.
For more on some of the best credit card deals, visit: http://www.find.co.uk/creditcards/reward_credit_cards/rewards_cards