Credit cards Date:
Halifax has made some tweaks to its balance transfer credit card. It now has a lower introductory balance transfer fee as well as an extended 0% interest purchase term, winning it an 'excellent' rating as a result.
Low Fee Balance Transfer Offer Credit Card MasterCard has a 32-month interest-free term for balance transfers with a lower introductory fee of 1.13% (after a partial refund). It also now boasts a longer 0% interest purchase term of 12 months.
The finer details…
Balances must be transferred within 90 days of the account opening in order for borrowers to benefit from the 0% interest offer. Once the initial offers expire, balance transfers will attract a charge of 18.95% per annum (with a fee of 3.00%), while standard purchases will be charged at 18.9% APR.
To apply, borrowers must be at least 18 years old. Applications can be made both online and by phone. Borrowers are reminded that rates are representative and dependent on their credit rating.
Why we like it…
The updates to this deal have sharpened its competitive edge, something that is sure to be noticed by borrowers. The cut to the introductory balance transfer fee has made it more cost-effective, while the lengthened purchase term means that borrowers can spread the cost of their borrowing, making this a truly 'excellent' product.
Moneyfacts rating: Excellent
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