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RBS are upping the credit card anti
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RBS Credit Cards – 0% Balance Transfer Period Extended
Writes Dan Drage dan.drage@consumerchoices.co.uk
The Royal Bank of Scotland extended the 0% balance transfer period for new applicants to its credit card this week.
The Royal Bank of Scotland (www.rbs.co.uk) has extended the 0% balance transfer period of its RBS credit card to 13 months, at an APR of 15.9% (variable).
Also on offer is a six month 0% on purchases period, allowing the cardholder interest free purchases for half a year from the moment the account is opened.
The Royal Bank of Scotland is the key player in the RBS group, alongside Natwest (www.natwest.com) and the Ulster Bank. RBS are renowned for printing their own banknotes, a practice that has remained unchanged for nearly three hundred years.
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"If you were to transfer a balance of £3000 to the RBS credit card from an average existing credit card, it represents a saving of £169 over the 13 month 0% balance transfer period"
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The RBS group, the UK’s second largest banking corporation, added Dutch bank ABN Amro to its operating portfolio last year.
Chris Eagle, Commercial Manager at Credit Choices, has done the maths:
‘This is a competitive move by RBS. The average APR on credit cards is currently 17.35% according to Credit Action. If you were to transfer a balance of £3000 to the RBS credit card from an average existing credit card, it represents a saving of £169 over the 13 month 0% balance transfer period’
He continues:
‘In the current financial climate, every possible saving you can make is crucial.’
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