Credit cards Date:
Halifax has reduced the fee charged on balance transfers made during its introductory 0% offer on its 37 month balance transfer credit card, thereby consolidating its joint market-leading position on the Moneyfacts charts.
37 Month Balance Transfer Credit Card MasterCard has an interest-free term of 37 months for balance transfers with a new lower fee of 2.65% after a partial refund.
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 30.11.15) 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.
Remember, in order to secure a credit card or personal loan you need to have a good credit rating. To find out if yours has a clean bill of health, contact a credit check provider, such as Experian to investigate your credit report.
The reduction to the fee charged for balance transfers made during the introductory 0% offer has made this deal even more competitive. Borrowers looking for a cost-effective option to reduce their outstanding credit card balances over the long term are therefore likely to welcome this update.
Moneyfacts rating: Outstanding
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