Some Good Deals On Credit Cards
October 26, 2007
Despite the credit squeeze, the APR on most of the regular top credit cards is still around the same mark as it was before. That is in the region of 14.9% to 15.9%.
The MBNA Europe Platinum Plus Visa card has a very competitive APR of 12.9%, and that only kicks in after a three month period of 0% interest on purchases on the card. There is also an introductory 0% balance transfer period of 12 months, with a 3% handling fee. There are no rewards and no cashback, but there is no annual fee either, and it claims that the user need have no minimum income.
Virgin Money’s Virgin Credit Card has an APR of 15.9%, and a 0% introductory period on purchases of three months. It beats the MBNA card on its balance transfer period, which is 0% for 15 months, with marginally lower handling fee of 2.98%. There are no rewards or fees with this card either, and no minimum income requirement.
Barclaycard’s Platinum Credit card has 14 months at 0% for balance transfers and, like the other two above, three months at 0% on purchases. Its typical purchase rate APR is 14.9%. There is a competitive 2.5% handling fee on balance transfers. There are no rewards or fees with this card either, and no minimum income requirement.
The Halifax One card has 12 months at 0% for balance transfers (3% handling). The typical APR on this card is 15.9%, but where this one wins out is that it has 0% on purchases for 12 months – much longer than the three months offered by the other cards.
Although they all specify no minimum income, the squeeze is on for credit card applications and any one could be refused. However, there are still some good deals out there: good balance transfer options, good interest-free purchase periods, and even the APR hasn’t rocketed on most of them