New low-fee balance transfer credit card | Product News - Moneyfacts

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New low-fee balance transfer credit card

New low-fee balance transfer credit card

Category: Credit cards
Date: 05/10/2015

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 It is now over 6 months old so the content may be out of date.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 unleashed a new low-fee 0% balance transfer credit card onto the market, earning an 'excellent' rating thanks to its competitive terms.

The basics…

Low Fee Balance Transfer Offer Credit Card MasterCard has a 32-month interest-free term, with a low balance transfer fee of just 1.39% after a partial refund. This is the joint lowest fee for such a lengthy introductory balance transfer period, making it a stiff competitor in the market. A six-month 0% purchase term is also in place.

The finer details…

Balance transfers must be made within 90 days of an account being opened in order to qualify for the 0% offer. As an added bonus, balance transfers of £1,500 or more will gain the borrower £35 cashback (available until 30.10.15), provided this 90-day limit is observed.

Once the introductory offers expire, balance transfers will be charged at 18.95% per annum with a fee of 3.00%. Purchases will attract a charge of 18.9% APR.

Applications can be made online and borrowers must be at least 18 years old to apply. Borrowers should remember that rates are representative and dependent on their credit history.

Why we like it…

Borrowers looking for a great interest-free balance transfer deal with low upfront costs will be pleased by this newcomer to the market. It offers the joint lowest balance transfer fee in the market for a lengthy interest-free period, and it also has the added bonus of cashback for balances of £1,500 or more. The six-month interest-free purchase period will also come as a plus for those looking to spread the cost of a future purchase.

Moneyfacts rating: Excellent

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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