28 April 2008
A new credit card has been released by Abbey, an item the company claims comes with no charge for foreign exchange, no fee for a balance transfer and moneyless cash advance.
While consumers are normally charged for these, Abbey stated, Zero comes with the aforementioned incentives.
Managing Director of Abbey Credit Cards Roger Lovering suggested that the company has been "innovative" in this field and that the card is the first to come with all three exemptions.
"With no balance transfer fee and six months interest free, it's the perfect card to transfer a debt you want to pay off quickly and has clear advantages for the summer too," he commented.
He added that holidaymakers will probably see the benefits from the card as the prospect of foreign exchange charges is removed.
A typical foreign exchange fee with Abbey is 2.75%, while the other two charges are normally 2.5% or £3 at least.
Corrine Sweet, the relationships expert, recently suggested that Britons' financial aspirations are "fantasy".