Virgin extends interest-free BT period

Virgin Money has announced that it is launching a new credit card deal with a "market leading" interest free period for balance transfers (BTs) of 13 months, with a handling fee of 2.5 per cent.

The card will also offer a zero per cent interest rate on purchases for three months from the opening of the account.

Following this introductory period, the product will revert to a standard typical rate of 15.9 per cent APR.

John Franklin, spokesman for Virgin Money, said: "Christmas can be an expensive time so as an extra bonus we have launched a card that gives people even longer to pay off their existing balances at a rate of zero per cent p.a.

"Thirteen months interest free is a great opportunity for people to get their finances in order and beat the post Christmas blues."

The Virgin Money credit card also offers benefits of discounts on Virgin holidays, megastores, wines and Virgin Active.