7 January 2008
Halifax launched its new credit card today, offering what it claims is the "best 0% deal" currently available to UK consumers.
The card features 0% interest on balance transfers for 13 months - along with 0% on purchases for six months.
However, consumers should also know that the new card, named Halifax Plus, also carries a 3% balance transfer fee.
Statistics from payments association APACS show that the average outstanding balance on UK credit cards stands at £1,859.
Therefore, Halifax said today, the average customer switching from the standard 17.9% APR to the new card would stand to save £114 over the full 13 months.
Head of Halifax Card Services, Ken Stannard, said: "Once again Halifax is offering the most competitive credit card deal on the high street.
"For many, New Year is a time to organise their finances and by consolidating more expensive debt, such as store cards on to a new Halifax Plus Credit Card, the average credit cardholder could save well in excess of £100."
Other 0% deals on the market include Barclaycard's Platinum service - which offers 14 months on transfers and three months on purchases and Lloyds TSB's card - which offers 12 months 0% transfers and six months 0% purchases.
© 2008 Adfero Ltd
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