The credit card market has become a hive of activity, with new products launched and existing deals changed. Among those changing is Barclaycard. It has extended the 0 per cent period for balance transfers on its Platinum card to 15 months (previously it was interest-free until February 2011).

This isn't quite the best on the market: Virgin still leads the field with 16 months. This improved balance transfer offering from Barclaycard does come at a price however, as it has also upped the standard annual percentage rate of the card from 14.9 per cent to 15.9 per cent. It has also increased the balance transfer fee from 2.5 per cent to 2.9 per cent.

That said the Barclaycard deal is still a great option for those looking to take advantage of a balance transfer deal. And, while Virgin's interest-free period is slightly longer, millions of people won't actually qualify because it is part of the MBNA group, and you can't transfers balances from one MBNA card to another.

New purchases also benefit from three months interest-free.