Expert comments on Halifax All-in-One card
May 15, 2008
The Halifax has recently announced the launch of its All-in-One card, where consumers can enjoy ten months interest free credit on both balance transfer and purchases made on the card. Sean Gardner from MoneyExpert.com said that whilst the card may prove attractive to many consumers looking for 0% on both purchases and balance transfers, some people with good credit may be able to get a better deal.
Mr Gardner stated: “Halifax’s All-in-One card looks like a pretty generous offer in a market where as many as five million of us are struggling to make repayments and some credit card companies are either looking to dump customers or reduce the credit limits of certain customers. Savvy consumers with a strong credit record can do better however if they’re after a balance transfer card. Halifax’s 10 month balance transfer period looks pretty small when compared to the Virgin Money 15 month offer and the 14 months Barclaycard are offering on two of their cards.”
He added: “Similarly, if you’re looking for the longest possible introductory purchase rate, then you can expect a full 12 months with the HSBC MasterCard. Having said this, the combination of the generous balance transfer period and purchase period will be attractive to anyone looking to make purchases without fear of racking up interest charges on their spending and existing balance. Barclaycard’s 14 month balance transfer card for example comes with an introductory purchase period of just 3 months.”
Consumers – particularly those with good credit who will have more choice when it comes to finding a suitable credit card – are urged to browse and compare a range of cards from different lenders in order to check whether there is a more competitive deal out there for them before committing to any particular card.
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