We all love a bargain, and great deals on personal credit is no exception. Defaqto, a leading provider of timely and accurate financial information has discovered Good deals on personal credit continue despite the credit crunch.

Seven in ten (69%) credit cards offer a 0% introductory interest rate on balance transfers for an average of 9.7 months.

Virgin credit card offers one of the longest introductory 0% interest periods, with up to 16 months available for a balance transfer fee of 2.98%.

Six in ten (60%) credit cards, meanwhile, offer a 0% introductory interest rate on purchases for an average of 4.4 months.

However, Defaqto warned that many customers fail to receive the advertised offer.

An individual’s credit report, employment and property status, affordability, indebtedness, financial behaviour and usage are all part of the mix in the lender’s decision making process,

said Defaqto spokesperson David Black.

Black also pointed out that balance transfers are subject to an average fee of 2.85%.