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Credit card provider Virgin Money has introduced a new zero per cent balance transfer product onto the market.

According to moneysupermarket.com, the credit card comes with an introductory rate of zero per cent on balance transfers for nine months and there are no fees involved when money changes accounts .

Those who have the funds available to clear their balance by the end of the nine-month period are recommended the credit card by the website, as the initial rate interest shoots up to 16.6 per cent afterwards.

Peter Harrison, credit cards expert at moneysupermarket.com, said: “Whilst there are still a number of cards with a zero per cent introductory rate for balance transfers there are very few that no longer charge a fee.”

Helen Kanolik, independent financial adviser with Poole-based PFM Associates, recently told This Is Money that the American Express Platinum Cash Back credit card is advised for those looking for a product which rewards holders for spending.

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