Virgin Money card offers 30 months' interest-free spending

Virgin Money has upped the ante in the 0% purchase credit card market.

Virgin Money card offers 30 months' interest-free spending

Virgin Money has launched the longest offer on the market, giving you up to 30 months interest-free on purchases. You'll also get 0% on money transfers for 18 months but it does carry a hefty 4% transfer fee. The card itself has a higher-than-average 19.9% APR though, so watch out for that.

Current longest 0% purchase credit cards

Here are the longest 0% periods on offer today for purchases.

Credit card

0% periodRepresentative APR

Virgin 30-Month Purchase Credit Card

30 months19.9%

Tesco Bank Clubcard Credit Card for Purchases

28 months18.9%

Sainsbury's Bank Nectar Purchase Credit Card

28 months

18.9%

Post Office Money Matched MasterCard

27 months18.9%

Clydesdale Bank Gold MasterCard

26 months

18.9%

Yorkshire Bank Gold MasterCard

26 months

18.9%

Halifax 26-Month Balance Transfer and Purchase Credit Card

26 months18.9%

AA Dual Credit Card

26 months18.9%

The supermarkets are also dishing out great products with the Tesco Bank Clubcard Credit Card for Purchases and Sainsbury's Bank Nectar Purchase Credit Card offering 28 months interest-free purchases.

The pros of a 0% purchase card

The beauty of a 0% purchases credit card is, so long as you pay it off within the interest-free period, every penny goes to paying off your debt.

So if you know you've got a big purchase ahead of you, going for a 0% credit card is a sensible course of action.

The downsides of a 0% purchase card

There are some hurdles to consider though. What if you don't manage to clear your balance before the 0% period finishes and you still have thousands of pounds sat on the card?

You have a couple of options. The first is to do nothing – leave your debt where it is, continue making your monthly payments, and your debt will eventually disappear. That said, you will end up spending a decent chunk of cash on interest.

Or you can move the remaining debt to a balance transfer card, which will also offer a period of 0% interest on your repayments.

And then there's the fact that in order to get your hands on a 0% card you'll need to have a good credit record. Credit card providers don't make a habit of handing out these cards to any old borrower – ironically the borrowers who would most benefit from a bit of breathing space in paying off their debts are the ones who find it most difficult to get their hands on 0% cards.

Alternatively, you may find that your credit rating is good enough to get a 0% on purchases card, but not good enough to get the very best 0% card. Halifax is now offering 'tiered 0% deals' where some applicants get 0% cards but with shorter interest-free periods.

Improve your chances of getting a 0% card

Therefore, the best way to get a 0% card is to ensure your credit rating is as spotless as possible.

Compare 0% purchase credit cards