Spotlight on ... Virgin Money’s credit card

 

The deal

Virgin Money is extending the 0 per cent introductory period on its balance transfer credit card from 20 months to 26 months for new customers.

Good points

It has become the longest balance transfer deal in the market.

Bad points

There’s a one-off fee of 2.99 per cent, which works out at almost £150 if you transfer £5,000. Once the introductory period ends it reverts to an expensive standard rate of 18.9 per cent.

Conclusion

Virgin’s move is simply to put it back at the top of the table for length of time. But it’s go-to rate of 18.9 per cent will win it no best-buy prizes. It means that if you don’t pay off the balance before 26 months are up, you’ll end up paying over the odds for your debt.

Start your day with The Independent, sign up for daily news emails
Suggested Topics
Have you tried new the Independent Digital Edition apps?
Finacial products from our partners
Property search

Retirement

 

Mortgages

Fee-free, expert mortgage advice:

  • Find the right mortgage for you
  • Latest best-buy deals
  • Mortgage calculators
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

ES Rentals

    iJobs Job Widget
    iJobs Money & Business

    SThree: Talent Acquisition Consultant

    £22500 - £27000 per annum + OTE £45K: SThree: Since our inception in 1986, STh...

    Recruitment Genius: Experienced Financial Advisers and Paraplanners

    Negotiable: Recruitment Genius: This extremely successful and well-established...

    Guru Careers: FX Trader / Risk Manager

    Competitive with monthly bonus: Guru Careers: We are seeking an experienced FX...

    Guru Careers: Investment Writer / Stock Picker

    Competitive (Freelance) : Guru Careers: An Investment Writer / Stock Picker is...

    Day In a Page

    Lionel, Patti, Burt and The Who rock Glasto

    Lionel, Patti, Burt and The Who rock Glasto

    This was the year of 24-carat Golden Oldies
    Paris Fashion Week

    Paris Fashion Week

    Thom Browne's scarecrows offer a rare beacon in commercial offerings
    A year of the caliphate:

    Isis, a year of the caliphate

    Who can defeat the so-called 'Islamic State' – and how?
    Marks and Spencer: Can a new team of designers put the spark back into the high-street brand?

    Marks and Spencer

    Can a new team of designers put the spark back into the high-street brand?
    'We haven't invaded France': Italy's Prime Minister 'reclaims' Europe's highest peak

    'We haven't invaded France'

    Italy's Prime Minister 'reclaims' Europe's highest peak
    Isis in Kobani: Why we ignore the worst of the massacres

    Why do we ignore the worst of the massacres?

    The West’s determination not to offend its Sunni allies helps Isis and puts us all at risk, says Patrick Cockburn
    7/7 bombings 10 years on: Four emergency workers who saved lives recall the shocking day that 52 people were killed

    Remembering 7/7 ten years on

    Four emergency workers recall their memories of that day – and reveal how it's affected them ever since
    Humans: Are the scientists developing robots in danger of replicating the hit Channel 4 drama?

    They’re here to help

    We want robots to do our drudge work, and to look enough like us for comfort. But are the scientists developing artificial intelligence in danger of replicating the TV drama Humans?
    Time to lay these myths about the Deep South to rest

    Time to lay these myths about the Deep South to rest

    'Heritage' is a loaded word in the Dixie, but the Charleston killings show how dangerous it is to cling to a deadly past, says Rupert Cornwell
    What exactly does 'one' mean? Court of Appeal passes judgement on thorny mathematical issue

    What exactly does 'one' mean?

    Court of Appeal passes judgement on thorny mathematical issue
    E L James's book Grey is a reminder of how the phenomenon of the best-seller works

    Grey is a reminder of how the phenomenon of the best-seller works

    It's hard to understand why so many are buying it – but then best-selling was ever an inexact science, says DJ Taylor
    Behind the scenes of the world's most experimental science labs

    World's most experimental science labs

    The photographer Daniel Stier has spent four years gaining access to some of the world's most curious scientific experiments
    It's the stroke of champions - so why is the single-handed backhand on the way out?

    Single-handed backhand: on the way out?

    If today's young guns wish to elevate themselves to the heights of Sampras, Graf and Federer, it's time to fire up the most thrilling shot in tennis
    HMS Saracen: Meeting the last survivor of a submarine found 72 years after it was scuttled

    HMS Saracen

    Meeting the last survivor of a submarine found 72 years after it was scuttled
    7/7 bombings 10 years on: Martine Wright lost both legs in the attack – she explains how her experience since shows 'anything is possible'

    7/7 bombings 10 years on

    Martine Wright lost both legs in the attack – she explains how her experience since shows 'anything is possible'