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Clydesdale offers new deal on credit card balance transfers
CLYDESDALE Bank will tomorrow launch a market-leading credit card deal for borrowers transferring existing balances.
The Clydesdale Gold Mastercard offers 0 per cent interest on balance transfers for 16 months, plus 0 per cent interest on all purchases for the first three months. The rate then reverts to a typical APR of 16.9 per cent.
The move comes after several lenders reduced their balance transfer offers ahead of new rules coming into force next year banning them from hiking interest rates for borrowers in financial hardship and forcing them to reduce the most expensive debts first.
Peter Harrison of Moneysuper-market.com said: "There has been concern that forthcoming changes to the credit card market would have a negative impact on the balance transfer market with some of the leading players reducing their offers recently.
"This product launch is a good sign that providers remain keen to compete strongly."
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Weather for Edinburgh
Thursday 24 May 2012
Today
Sunny spells
Temperature: 10 C to 23 C
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