London, Manchester, Birmingham, Glasgow, Norwich (PRWEB UK) 1 July 2013
Tesco Bank has today launched improved offers on two of their already leading credit cards. The Tesco Club card with balance transfer will see its 0% balance transfer period increase from 25 months to 27 months, equaling market leaders Barclaycard. Whilst, the Tesco Purchase card sees its 0% purchase duration move up to 18 months from 16 months making it the best purchase card product available in the UK market.
With this move, Tesco has jumped the likes of Virgin, NatWest and RBS (who all still offer 26 months at 0% on their respective balance transfers cards) in the balance transfer tables, taking it to the top of the rankings as joint longest balance transfer card. The 2 month increment on the months also prompts a rise in the transfer fee taking in from 2.9% to 3.15%.
A spokeswoman for leading comparison site compareandsave.com commented:
“It will be interesting to see who's next in line to improve their product as the credit card wars continue to heat up into summer. It can only be good news for credit card consumers that balance transfer lengths are now the longest they have ever been."
"Although Tesco is mostly known for its retail business; Tesco Bank is shaping up to be a real competitor to the established issuers. Indeed many will find it refreshing to see a trusted supermarket competing with the high street banks.”
compareandsave.com is one of the UK’s leading personal finance comparison websites. Based in Colchester, Essex, compareandsave.com has been helping UK consumers get a better deal on credit cards, savings accounts, personal loans and more for over five years.