0% balance transfer term increase is ‘outstanding' | Product News - Moneyfacts

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0% balance transfer term increase is ‘outstanding'

0% balance transfer term increase is ‘outstanding'

Category: Credit cards
Date: 05/10/2015

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 It is now over 6 months old so the content may be out of date.

Halifax has increased the term of its 36-month interest-free balance transfer credit card to 37 months, enabling it to take a joint market-leading position in its sector.

The basics…

The newly-named 37 Month Balance Transfer Credit Card MasterCard now has an interest-free term of 37 months for balance transfers, enabling it to sit at the very top of the charts. A fee of 2.75% will be charged.

The finer details…

Balance transfers must be made within 90 days to qualify for the 0% offer. As an added bonus, transfers of £1,500 or more will earn the borrower £35 cashback (available until 30.10.15) and borrowers can also benefit from a six-month interest-free purchase period.

Once the introductory offers end, balance transfers will attract an annual charge of 18.95% with a fee of 3.00% while standard purchases will be charged at 18.9% APR.

Borrowers must be at least 18 years old and all applications must be made online. Borrowers should remember that rates are representative and dependent on their credit history.

Why we like it…

The increase in the length of the 0% balance transfer term to a market-leading 37 months is sure to catch the eye of eager borrowers. The fact that they can also potentially profit from a cashback offer and make use of a six-month interest-free period for purchases sweetens the deal yet further, ensuring that this card truly deserves its place on the charts.

Moneyfacts rating: Outstanding

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 Any products featured may be withdrawn by their provider or changed at any time.

 

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 Any products featured may be withdrawn by their provider or changed at any time.

 
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