Credit card customers have rarely had it so good. That’s the view of the Daily Telegraph who this week highlighted the fantastic credit card deals on offer due to an ongoing ‘war’ between two of the UK’s leading card providers.
Nationwide and Barclaycard have been jostling for position as number one on the ‘best buy’ tables, and their battle for supremacy has resulted in some terrific deals for consumers.
Battle for balance transfers
Nationwide recently fired the first salvo by launching a 0 per cent balance transfer card for 17 months with the lowest transfer fee on the market. This immediately sent them to the top of the ‘best buy’ tables, causing Barclaycard to extend their credit card deal to 18 months.
The new Barclaycard Platinum credit card also offers customers 0 per cent interest on purchases for the first three months. Its balance transfer fee is 2.9 per cent and a typical APR thereafter is 16.9 per cent. Nationwide offers the same balance transfer fee, but cardholders benefit from six months’ interest-free credit on purchases.
Purchase deals also excellent
The Daily Telegraph highlights a Marks and Spencer credit card for consumers looking for low rates on purchase transactions. The newspaper reports that ‘Marks & Spencer has introduced 0 per cent for 15 months for new customers, with a typical rate of 15.9 per cent APR thereafter.’
The leading supermarkets are also competitive in this market. Other cards to consider, according to the Telegraph, are Sainsbury’s Finance Mastercard, which is interest-free for the first 12 months and charges 15.9 per cent APR thereafter and Tesco Bank Clubcard Credit Card Mastercard, which offers 0 per cent on purchases for first 13 months and 16.9 per cent APR thereafter.
Bear in mind that all these deals are only likely to be available to people with excellent credit histories.
