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Halifax unveils 0.8% balance transfer fee on All in One Credit Card

30th September 2013 Print

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%.
 
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%."
 
Significant savings
 
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.

For more information, visit halifax.co.uk.