Credit cards Date:
Halifax has once again increased the interest-free term on its balance transfer credit card, securing its position near the very top of the Moneyfacts charts as a result.
The newly-named Halifax 40 Month Balance Transfer Credit Card MasterCard now offers a lengthy 40-month term for interest-free balance transfers, the joint market-leading term in its sector. It comes with an introductory balance transfer fee of 2.90% (after a partial refund) and also offers borrowers a six-month interest-free period for purchases.
Borrowers must ensure that they transfer their balances within 90 days of opening an account in order to qualify for the interest-free deal. Once the initial offers expire, balance transfers will be charged at 18.95% per annum 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 should remember that rates are representative and dependent on their credit rating. Applications can be made by phone and online.
By increasing the 0% interest balance transfer term to 40 months Halifax has ensured its continued place near the top of the charts. The fact that this deal also offers a six-month interest-free term for purchases further enhances its appeal. This is an outstanding product that fully deserves the highest Moneyfacts rating.
Moneyfacts rating: Outstanding
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