Credit cards Date:
Halifax has reduced the introductory balance transfer fee on its joint market-leading credit card by 0.05%, solidifying its position near the top of the Moneyfacts charts.
Halifax 40 Month Balance Transfer Credit Card MasterCard now has an initial balance transfer fee of 2.49% after a partial refund. It offers a joint market-leading 40-month interest-free term for balance transfers as well as a six-month 0% interest period for purchases.
In order to qualify for the 0% interest deal, borrowers must ensure that they transfer their balances within 90 days of opening an account. Once the initial offers come to an end, balance transfers will be charged at an annual rate of 18.95% with a fee of 3.00%, while standard purchases will be charged at 18.9% APR.
Applications can be made online or by phone. Borrowers must be at least 18 years old to apply and should remember that rates are representative and dependent on their credit rating.
By trimming the rate on this credit card and consequently making it more cost-effective, Halifax has ensured that it remains in a strong chart position. Offering a generous 40-month interest-free period for balance transfers, this deal is a highly attractive option for borrowers who are looking to clear their outstanding credit card debts over the long term. This is an outstanding product that fully deserves the highest Moneyfacts rating.
Moneyfacts rating: Outstanding
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