Use 0% balance credit cards, says Halifax - Credit cards - News - Moneyfacts

News

Moneyfacts.co.uk News brings you the latest financial & economic news & reviews of the best products in the UK by our team of money experts.

Use 0% balance credit cards, says Halifax

Use 0% balance credit cards, says Halifax

Category: Credit cards

Updated: 05/01/2009
First Published: 29/12/2008

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Consumers have been advised to shop around in order to find the best financial deals in the new year.

According to Halifax, people often look for bargains in stores but "too few of us include banking products".

Managing director of Halifax Financial Services Karen Crowshaw explained that the economic downturn means it is particularly important to carry out a credit card comparison, with consumers likely to benefit if they choose zero per cent balance credit cards.

"In light of the recent financial climate, it has never been more important to seek out the best product deals available," she said.

The bank also advised saving regularly, as well as making small overpayments on mortgages in order to pay them off faster.

Sainsbury's Bank recently suggested that shoppers use a reward credit card for small purchases, as it found that 7.55 million people use such forms of finance for goods costing £20 or less.

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Credit card mistakes cost borrowers £948m

At this time of year, many people could be turning to balance transfer credit cards in an attempt to overcome their Christmas debt. However, many of these borrowers could get caught out in the year ahead, and they could end up paying for it.

6 of the best balance transfer credit cards

Does the thought of opening your credit card bills fill you with fear? If so, you're not alone! Christmas may be over, but unfortunately, many people will still be paying for it, after turning to credit to cover the cost of their festive spend.

Get a better credit score for the New Year

A new year means a fresh start, and one of the best things you can do is take a cold, hard look at your finances – particularly when it comes to your credit score.
 
Close