Halifax tops the charts with a 15 month 0% purchase deal

Samantha Owens, Head of Personal Finance at Moneyfacts.co.uk, comments: “Halifax takes purchase introductory deals to the same level as balance transfers, offering an impressive 15 months 0% interest, with the closest deals only coming in at 12 months from Halifax, HSBC & Sainsbury’s.

“0% on purchases can make financial sense for savvy credit card users, and at 15 months the Halifax purchase card cannot be beaten. However borrowers should still spend cautiously. While interest free borrowing is attractive any balance accumulated over this introductory period will need to be repaid, and at an average reverts to rate of 14.9%, this could become costly unless borrowers nab themselves a further 0% balance transfer deal.

“For anyone looking for 0% purchases and balance transfer rates, the optimum choice would be the Halifax card for spending and the Virgin Money MasterCard for the balance transfer. However for those looking for a simpler life, the Halifax One 12 Month Offer MasterCard card offers 12 months on both purchases and balance transfers.