Halifax's All in One card has been improved. Here's what's changed and what other options are out there.
The competition between credit card providers is still in full force with Halifax increasing the 0% balance transfer and purchase period from 12 months to 15 months on its All in One credit card.
Borrowers opening an All in One card will be given a 0% balance transfer period of 15 months when moving over a debt. This will also be cheaper as the fee has been reduced from 3% to 1%, meaning you'll pay just £20 on a debt of £2,000.
There is also a 15-month 0% period for new purchases so you won’t pay any interest on items bought on the card during this time. When the 0% period ends the interest rate will kick in at 17.9% which is slightly lower than the average for these cards.
The Halifax card is the market-leader when it comes to combination cards, which offer 0% on both balance transfers and purchases. It beats a similar deal from NatWest which has a higher fee of 2.9% and also the 14/14 card from Barclaycard which, as the name suggests, offers 0% on purchases and balance transfer for 14 months with a 2.9% fee.
Our comparison tables show some more options but here I’ve listed the top five.
|
Card |
0% balance transfer period |
0% purchase period |
Balance transfer fee |
APR |
|
15 months |
15 months |
1% |
17.9% |
|
|
15 months |
15 months |
2.9% |
16.9% |
|
|
15 months |
15 months |
2.9% |
16.9% |
|
|
14 months |
14 months |
2.9% |
18.9% |
|
|
13 months |
13 months |
1% |
17.9% |
Longer 0% balance transfer periods
If you’re stuck paying a high interest rate on your credit card, a balance transfer card with a longer 0% period might be more suitable – especially if the balance is high.
The longest cards around now offer periods of more than two years 0% interest, such as the Barclaycard 28-month Platinum Visa. However, the cards with the longest 0% periods also have steeper fees and this one would cost you 3.5% or £70 if moving over £2,000.
Listed below are the top five cards in this range.
|
Card |
0% period |
Balance transfer fee |
Fee paid on £2,000 transfer |
Representative APR after 0% period ends |
|
28 months |
3.5% |
£70 |
18.9% |
|
|
27 months |
2.99% |
£59.80 |
18.9% |
|
|
27 months |
2.99% |
£59.80 |
18.9% |
|
|
27 months |
2.99% |
£59.80 |
18.9% |
|
|
27 months |
3% |
£60 |
18.9% |
Purchase cards
You could also go for a card which gives you a longer 0% interest period on any new purchases.
However, the deals around aren’t that much better than the Halifax card. The best comes from Tesco with its Clubcard credit card, which offers 18 months of 0% interest for new purchases, along with a nine-month period for balance transfers.