Credit cards Date:
Halifax has reduced the cost of the introductory balance transfer fee on its 37-month balance transfer credit card by 0.10%, enabling it to move further up the Moneyfacts charts.
37 Month Balance Transfer Credit Card MasterCard now has an introductory balance transfer fee of 2.55% after a partial refund.
This card has a 37-month interest-free term for balance transfers as well as a six-month 0% term for purchases. Balances must be transferred within 90 days of the account opening in order to qualify for the introductory deal.
Once the initial offers expire, balance transfers will be charged at 18.95% per annum with a fee of 3.00%, while purchases will attract a charge of 18.9% APR.
Borrowers must be at least 18 years old to apply and applications must be made online. Borrowers should remember that rates are representative and dependent on their credit rating.
The reduction to the introductory balance transfer fee has heightened this deal's competitiveness even further, allowing it to cruise up the Moneyfacts charts. Borrowers who are looking for a cost-effective balance transfer deal to clear their outstanding credit card balances are therefore likely to pay a great deal of interest to this update, which also has the bonus of a six-month interest-free purchase term. This is an outstanding product that fully deserves the highest Moneyfacts rating.
Moneyfacts rating: Outstanding
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