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Egg have released a new credit card deal which provides customers with 15 months of interest free balance transfers.
As well as borrowers not having to pay any interest on balance transfers until 1st August 2009, Egg are also charging 0% interest on purchases made before 1st August this year. The new offer comes after the lender closed the accounts of 161,000 customers earlier this year after being taken over by American firm Citibank.
With the new deal, customers will also have two extra periods of interest free balance transfers in May 2010 and May 2011, both lasting for five months. For each period there will be a 2.5% charge. Out of all card providers currently on the market, only Mastercard from Virgin Money offers a similar deal, with the same balance transfer period and a slightly lower fee of 2.98% compared to Egg’s 3%. The MINT mastercard also has free balance transfers until June 1st, 2009 and Natwest are offering free balance transfers for up to 13 months.
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