Halifax launches a 33 month interest free balance transfer card

Halifax has launched its longest ever interest free balance transfer card of 33 months. The card carries a 0% interest rate on balance transfers lasting almost three years and six months’ interest-free on new purchases. From today, the card will be made available online only.

Based on a typical balance transfer of £2,000 from a card charging 18.9% APR (variable), with 0% for 33 months and a 2.8% balance transfer fee, moving to the Halifax Balance Transfer Card would mean customers would be £771 better off over the 33 month period.

The new card complements a number of balance transfer and purchasing cards launched by Halifax in the last month.

The new Halifax Transfer card offers:

Balance transfers:  33 months interest free on any balance transfers made within the first 90 days and an APR of 18.9%. This carries an effective 2.8% fee on balances transferred within the first 90 days

Purchases: six months interest-free on new purchases reverting to a subsequent rate of 18.9% thereafter.

Jon Roberts, Halifax Credit Cards, said: "Halifax remains committed to providing extra value and greater choice to customers, and this product could really help customers looking to restructure their existing credit or store card balances to make considerable savings.”

“This is the longest balance transfer card that we have ever launched and one of the longest in the current market. We want to remain competitive by offering our customers smarter ways to manage their finances.”