Halifax now offers top 0% balance transfer and purchase cards.
Halifax has made some big changes to two of its best 0% credit cards, leaving them each at the top of their respective best buy tables.
Let's take a closer look at what has changed.
Halifax 36 Month Balance Transfer Credit Card
The bank’s 36 Month 0% Balance Transfer Credit Card is bringing its balance transfer fee down from 2.9% to 2.49% in line with the market-leading Barclaycard Platinum 36 Month Card.
You will pay a 3% fee initially on each balance transfer you make within the first 90 days of account opening. Halifax will then refund you 0.51% within 90 days, so the effective fee is 2.49%. A 3% fee applies for each balance transfer made thereafter.
Everything else is still the same: you get 0% on purchases for the first six months and 18.9% APR.
Here's how it looks compared to the other lognest 0% balance transfer cards on the market.
|
Credit card |
0% period on balance transfers |
Balance transfer fee |
Cost of transferring £2,000 balance |
Representative APR |
|
36 months |
2.49%* |
£49.80 |
18.9% |
|
|
36 months |
2.49%* |
£49.80 |
18.9% |
|
|
Virgin 36 Month Balance Transfer Credit Card MasterCard |
36 months |
2.90% |
£58 |
18.9% |
|
Bank of Scotland Platinum 36 Month Balance Transfer MasterCard |
36 months |
3.00% |
£60 |
18.9% |
|
35 months |
2.39%* |
£47.80 |
18.9% |
|
|
MBNA Platinum 35 Month Balance Transfer Credit Card Visa |
35 months |
2.69% |
£53.80 |
18.9% |
|
Tesco Bank Clubcard Credit Card for Balance Transfer MasterCard |
35 months |
2.70% |
£54 |
18.9% |
|
Lloyds Bank Online Platinum 35 Month Balance Transfer MasterCard |
35 months |
3.00% |
£60 |
18.9% |
| Fluid 35 Month Balance Transfer Credit Card | 35 months | 3.1% | £62 | 18.9% |
*Higher fee charged initially, refund issued
Halifax Purchase Credit Card
Halifax has also improved its 0% purchase card, increasing the 0% period on offer from 20 months to 21, followed by a representative APR of 18.9%. This rate applies to at least 51% of applicants, but you may not be so lucky if you have a blemished credit record. Other applicants will only get the offer for the first 16 months at 21.9% APR or the first 14 months with a rate of 25.9% APR.
Here are the longest interest-free purchase cards:
|
Credit card |
0% purchase period |
Representative APR |
|
23 months |
16.5% |
|
|
Halifax Purchase Credit Card MasterCard |
21 months |
18.9% |
|
21 months |
18.9% |
|
|
20 months |
18.9% |
|
|
20 months |
18.9% |
|
|
Lloyds Bank Online 19 Month Platinum Purchase MasterCard |
19 months |
18.9% |
|
Bank of Scotland 19 Month Platinum Purchase MasterCard |
19 months |
18.9% |
|
19 months |
18.9% |
|
|
19 months |
18.9% |
*Annual fee of £24
[SPOTLIGHT]As you can see, Santander offers the longest 0% deal around, but it does come with an annual fee. When it comes to fee-free options, Halifax's revamped card is now level with the Tesco Clubcard credit card, though remember that the Tesco card comes with the added bonus of collecting Clubcard points with your purchases.
Compare more top purchase cards with loveMONEY
More on credit cards:
Beat record credit card interest rates
The best low-fee balance transfer credit cards