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Playing your credit cards right

It seems that 0% balance transfer credit cards are back in fashion, as MBNA announced today its longest ever 0% deal of 18 months.

Only last month the best deal on offer was for 13 months, but now there’s a host of tempting new ones on the table.

The new card by MBNA accompanies Barclaycard, Nationwide and Virgin in offering deals of 17-18 months interest free.

Will Curley, product executive for MBNA, said: ‘This is our longest ever balance transfer offer and one of the longest balance transfer credit card deals in the UK. Once again, we are demonstrating our commitment to developing and delivering market leading products to our customers.’

With all of these cards there’s a handling fee of just under 3% to carry your debts across, but all in all it’s a great way of taking control of your debts – as long as you’re disciplined and use it to pay off existing debts rather than use it to finance an unfeasibly lavish lifestyle that is.

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