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Longest ever 0% interest periods – hard to catch?

The longest 0% interest period ever seen for a balance transfer card is 40 months, but this can be an elusive deal

early bird

Balance transfer cards with 40 month 0% periods (the longest ever available interest free period for credit card balances) are normally hard to catch. You’ve got to be in the right place at the right time.

There is currently only one 40 month 0% balance transfer card on the market from Halifax and the deal ends 7 March 2016.

40 month cards – get them while they last?

With the Halifax card disappearing soon and Virgin quietly pulling down their 40 month deal on the weekend, there will be no 40 month 0% periods left on the market in a few weeks. If past behaviour is anything to go by it may be a while before they appear again.

Back in September 2015, Virgin Money brought out a balance transfer card with a 40 month interest free period, but it was only around for a month, it appeared again in November but only for a few weeks.

In January 2016 two 40 month cards burst back onto the scene, but are being withdrawn after only a month or so.

Is a longer 0% period worth it?

The good news is if you missed out is cards with the longest 0% period aren’t necessarily the best card for you. Before choosing a balance transfer card you should consider how long you will take to pay off your card debts.

Use our calculator to see how long it will take you to repay your balance:

Typically there is a trade off between 0% period length and transfer fee, as a rule the longer the 0% period the higher the upfront transfer fee.

If you think you can fully pay off your card balances in around one or two years, you could consider a balance transfer cards with no transfer fees, such as the Santander 123 Card, or the Halifax 23 Months Balance Transfer Card.


What are 0% balance transfer cards?

A 0% balance transfer card enables you to avoid paying interest on your card debts for a set period time, normally in exchange for an upfront fee. Watch the video below to find out more.

If you’ve not found what you’re after here, compare more balance transfer cards to see if there’s a suitable card for you.