Clydesdale and Yorkshire Credit Card Offers Longest Balance Transfer

The Clydesdale and Yorkshire Bank have launched a credit card with the longest zero balance transfer as new account holders can receive 0% interest on transfers for 16 months.

The Gold Mastercard from Clydesdale and Yorkshire has hit the top of the best buy list with their 16 month interest free period for balance transfers. In addition to the 0% interest charged on transfers, the credit card also offers zero interest on all purchases for the first three months.

A 3% balance transfer fee does apply for those who do want to benefit from this marketing leading offer, however there is no annual fee and the typical APR is currently 16.9% variable once interest does become payable.

As Steve Reid, Retail Director for Clydesdale Bank comments:

“Our new Gold Mastercard not only offers 0% interest on all purchases made in the first three months, but it is the only credit card currently offering 16 months 0% interest on balance transfers.

“The 0% interest period starts from the date you open your credit card account, making the card ideal for customers who want to reduce their spending as well as reducing the cost of any outstanding debts through a balance transfer.”

This latest balance transfer offer illustrates that this sector of the credit card market is still competitive and alive and well. “Credit card providers have been through a couple of years that they would probably prefer to forget, not only having to deal with a surge in bad debts as the recession took hold but also coming under increasing pressure from the government to offer customers a fairer deal.”

“Not surprisingly, the market was much quieter in 2009 with fewer new products being launched, and many of us wondered if the 0% balance transfer deal was on its way out.”, says Andrew Hagger of Moneynet.co.uk.

Consumers looking to benefit from balance transfer deals should be aware that lenders are still operating very tight credit scoring strategies and only those with a squeaky clean credit record will be eligible for the best offers in the market.

The new credit card is available in Clydesdale and Yorkshire branches or online at www.cbonline.co.uk/cards and www.ybonline.co.uk/cards.