This morning, Virgin Money relaunched its 41 month 0% interest on balance transfers with a slimmed down 3.19% one-off fee. It will also offer 41 months interest free for money transfers, with a 3.79% fee.

Later in the day, Halifax undercut Virgin Money by offering a 41 month balance transfer credit card with a lower 3.18% effective one-off fee. An initial 3.5% fee applies but it will then refund 0.32% within 90 days.

See YourMoney.com’s Confused about 0% credit cards? Your 60 second guide for more information.

How do these offers stack up?

If you were to shift £3,000 of debt, the fee with Halifax would cost you £95.40 whereas with Virgin Money, you’d pay £95.70 so we’re talking a few pence difference.

Consumers may also want to consider the new card from nuba which also offers 41 months 0% interest. Although it comes with a higher fee of 3.49% (so on a £3,000 transfer you’d pay £104.70), as long as you transfer a minimum of £1,000, you get a free £20 Amazon voucher.

Andrew Hagger of Moneycomms said: “If you factor that in it works out a better buy at that level than both the above cards. Competition remains fierce in the balance transfer market and it will no doubt step up a level as we approach the New Year as January is always a big month for BTs as people consolidate borrowing as part of their New Years resolutions.”