AUGUST 10TH, 2005

There are numerous credit card balance transfer offers for new customers out there on the market at present. But what is the best deal?

With credit card companies now introducing initial fees to setup your balance transfer to combat the growing number of credit card tarts its becoming that bit tougher to find a good credit card deal.

At first glance many would say the Halifax One credit card is the best deal as it offers 12 months interest free on balance transfers and purchases.

Thats a fantastic deal but there is a fine detail that most should know before jumping feet first. They charge you to transfer your balance!

Yes its becoming increasingly common and could be a sign of things to come. This however might not be such a bad offer as they will charge apparently 2% of your balance transfer to a maximum of £50.

So if you have a whopping balance to transfer, £50 for 12 months interest free still might be a great deal! Plus you get further purchases at no further interest as well to boot!

But there are still numerous credit cards on the market that offer no interest on balance transfers for new customers without the need to pay a balance transfer fee.

The Virgin credit card, which is ran by MBNA currently leads the way as the most popular credit card in the UK at the present moment in time.

This is mostly due to the fact they offer interest free balance transfers for 9 months without the fee. Mr Branson has his head screwed on as he tries to get as many clients to sign up as possible. Hes giving what the people want!

There is a downside in the fact that it does not offer any introductary offers for purchases as these are charged at a typical 15.9%. Then again it should deter you from spending and pay off the balance you have transfered.

All in all these two credit cards are possibly the two best credit card deals available at the present moment in time. Popularity certainly seems to suggest so.