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Use 0% balance credit cards, says Halifax

Use 0% balance credit cards, says Halifax

Category: Credit cards

Updated: 05/01/2009
First Published: 29/12/2008

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Consumers have been advised to shop around in order to find the best financial deals in the new year.

According to Halifax, people often look for bargains in stores but "too few of us include banking products".

Managing director of Halifax Financial Services Karen Crowshaw explained that the economic downturn means it is particularly important to carry out a credit card comparison, with consumers likely to benefit if they choose zero per cent balance credit cards.

"In light of the recent financial climate, it has never been more important to seek out the best product deals available," she said.

The bank also advised saving regularly, as well as making small overpayments on mortgages in order to pay them off faster.

Sainsbury's Bank recently suggested that shoppers use a reward credit card for small purchases, as it found that 7.55 million people use such forms of finance for goods costing £20 or less.

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