Credit card providers continue to better their offers to balance transfer customers, with Fluid the latest firm to extend its zero interest period.
Last month saw market leader Barclaycard announce the longest ever interest-free period on a balance transfer card with 26 months on its Platinum product.
Other providers have been increasingly pushing the boundaries as they look to bring in new customers, offering them ever longer periods to get themselves out of credit card debt without incurring any extra interest.
New offer: Fluid has increased its balance transfer zero interest period to 24 months.Fluid has increased its 23-month 0 per cent balance transfer card to 24 months, with those transferring from credit cards having to pay a 2.89 per cent fee (£28.90 from a £1,000 transfer).
It betters the 24-month products offered by RBS and Natwest, which have 2.9 per cent fees, but Barclaycard and Halifax offer 25-month zero interest cards with lower fees.
More... Longest ever 0% balance transfer card is now 26 MONTHS as Barclaycard responds to Tesco move Barclaycard launches record 26-month balance-transfer card - but it has a sky-high fee to move your debts More choice than ever to pay down debts with 0% balance transfer cards Find a credit cardIts three-month 0 per cent period on purchases is also behind the market leaders, with Barclaycard's 26-month card offering zero interest on purchases for six months.
Fluid, an online personal finance brand, says its unique selling point is that it checks every customer's personal financial history BEFORE the application process, so people can apply knowing whether they are likely to be accepted.
This could be useful as multiple card applications in a short period of time can have a detrimental effect on credit ratings.
Will Becker, spokesperson at Fluid said: 'Switching to our new 24 month balance transfer card could save new Fluid customers huge amounts in interest.
'Plus, with Fluid’s apply with confidence service; we are helping take some of the fear out of applying for a new credit card. Getting turned down for a credit card can damage people’s credit scores; particularly if they go on to make multiple applications in the hope of getting accepted.'
BEST 0% BALANCE TRANSFERSProvider Duration* 1 Barclaycard 27 months 2 Natwest/ RBS 26 months 3 Halifax 26 months 4 Virgin 26 months 5 Barclaycard 25 months >> ESSENTIAL GUIDE: How to get the best credit card *Fees apply
Transfers must be made within 60 days of opening the account, and once the interest free period is over it charges interest of 16.9 per cent APR representative, which means it must offer this rate to 51 per cent of successful applicants.
The competition in the balance transfer market shows no sign of stopping, with Charlotte Nelson of Moneyfacts saying we could see future products exceed the 26-month market leader currently.
She said: 'Competition in this market has heated over the past few months, with 26 months the longest balance transfer we have ever seen at Moneyfacts.
'These deals could go higher with many lenders competing to be the longest balance transfer period and appear at the top of the best buy charts.
'Customers should always bear mind there is always a fee to pay when making a balance transfer so don’t go on the deal alone.'