Halifax Bank of Scotland is launching a new credit card which promises 0% on balance transfers and purchases for nine months.
The Halifax One credit card, which is launched on 10th July, also promises a low interest rate of 9.9% after that period. Halifax claims that someone paying a standard rate of 16.9% could save themselves an average £261 in their first 12 months of using their One card.
The card will also offer an ongoing deal providing interest-free credit on all purchases if the balance is paid in full at the end of each month. Customers will also be covered against online fraud when making purchases over the internet and the card has no annual fee, which is something a lot of 0% balance transfer cards now do.
This deal sounds like a great offer, and will hopefully shake up other credit card companies to do the same. Perhaps we haven’t seen the back of 0% balance transfers after all.