Barclaycard and Sainsbury's Bank have both today launched new deals to attract Balance Transfer customers as the time for moving debts around reaches its peak.
Barclaycard is now offering £20 cashback to customers who transfer at least £2,500 onto either its 'Barclaycard Platinum Balance Transfer 18 Month (No Fee) Card', or their 'Barclaycard Platinum Balance Transfer (28mth) Card'.
Sainsbury's Bank has launched a new card with the longest interest-free period currently available on dual Balance Transfer and Purchases cards. The new 'Dual 27 Credit Card' offers 27 months at 0% interest, five months longer than Sainsbury's previous dual card.
Sainsbury's Bank has also introduced the new Low Balance Transfer Fee Credit Card offering a Balance Transfer fee of 0.62%, down from its old 1% fee product.
Commenting on the new offer Salman Haqqi, personal finance expert at money.co.uk, said: "The Balance Transfer market is becoming more and more competitive as lenders look to attract new customers looking to move their debts around following the excesses of the festive season.
"0% balance transfer credit cards are a great way to avoid paying interest on debts, as long as you can afford the monthly repayments. While using 0% interest balance transfer cards can provide invaluable breathing space for those seeking to clear their debt, they do require careful management."
Check out the new Credit Card deals here
Salman Haqqi spent 10 years as a journalist reporting in several countries around the world. Salman left the world of journalism and moved to the UK to pursue a passion for personal finance and a desire to help people make informed financial decisions.Read Salman Haqqi's articles and guides
Salman is our personal finance editor with over 10 years’ experience as a journalist. He has previously written for Finder and regularly provides his expert view on financial and consumer spending issues for local and national press.