Tesco Bank extends 0% credit card deal to 29 months
This squares up to Barclaycard and MBNA who are offering 29 months with balance transfer fees of 2.79% and 2.89% respectively however, Tesco is charging marginally more with a 2.9% fee.
Andrew Hagger from Moneycomms said: "I don’t expect this will be the last move in the balance transfer war and I would be surprised if there’s not a 30-month deal on the table by this time next week."
”Although the potential interest savings are greater the longer you borrow at 0%, if you know that you can pay the balance off sooner it makes sense to opt for a shorter term deal, as they often come with a much lower balance transfer fee."
If you're looking to pay off a debt on a credit card, this is a great time to shop around as all the finance companies try and woo you into their arms. It gives you a long time to try and clear your balance, which is always good (but, do check the small print as you could end up paying more than you need to as balance transfer fees go from 0.75% to 2.90%.)