Balance transfer & purchase card earns top rating | Product News - Moneyfacts

Product News

Balance transfer & purchase card earns top rating

Balance transfer & purchase card earns top rating

Category: Credit cards
Date: 05/01/2016

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 It is now over 6 months old so the content may be out of date.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 reduced the interest-free offer for balance transfers and purchases on one of its credit cards, but despite this, it continues to offer a competitive deal, earning the top rating and retaining a place in the Moneyfacts charts as a result.

The basics…

Balance Transfer and Purchase Credit Card MasterCard now has a 21-month interest-free term for balance transfers and purchases, enabling it to remain in the charts. An introductory balance transfer fee of 2.50% is payable.

The finer details…

Balance transfers must be made within 90 days of the account being opened in order to qualify for the 0% interest deal. Once the introductory offers come to an end, balance transfers will be charged an annual rate of 18.95% (with a fee of 3.00%), while standard purchases will attract a charge of 18.95% APR.

Applications must be made online and borrowers must be at least 18 years of age. It should be remembered that rates are representative and dependent on borrowers' credit ratings.

Why we like it…

The interest-free term for balance transfers and purchases may have been reduced, but this card still offers borrowers a competitive and eye-catching deal. This is an outstanding product that fully deserves the highest Moneyfacts rating.

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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