0% interest for 15 months on balance transfers and purchases now with a balance transfer fee of just 0.8%
From today all new customers taking out a Halifax All in One Credit Card will pay an effective balance transfer fee of just 0.8%.
New customers will continue to receive a 15 month interest free period on both balance transfers and new purchases. But in addition, Halifax will now refund 2.2% of the 3% balance transfer fee initially charged, which means all new customers will pay an effective fee of just 0.8% (see HERE for more details and applicable conditions).
Richard Washington, Halifax Credit Cards, said:
"With summer holidays over for another year and Christmas now just around the corner we understand that customers sometimes need a little extra help with managing their finances. That's why as well as a 15 month interest free introductory period on both balance transfers and purchases we're now effectively cutting the balance transfer fee to just 0.8%."
For someone looking to restructure their existing credit or store card balances then, based on a typical balance transfer of £2,000 from a card charging 17.9% APR (variable), with 0% for 15 months and an effective 0.8% balance transfer fee, moving to the All in One Credit Card would mean customers would be £375 better off over the 15 month period*.
And for those people looking to buy something and spread the cost over time, if they paid for it on the All in One Credit Card with 0% for 15 months then, compared to paying for it on a card charging 17.9% APR, on a £1,000 spend they would save themselves £195 in interest over the 15 month period*.
* Assumes no increase in balance over the period and customer is making minimum payments each month