MoneyExpert.com: Abbey Zero credit card
A spokesperson for MoneyExpert.com said: "This is the only card on the market, which won't penalise you for taking out cash abroad and could be a valuable addition for holidaymakers. The interest free credit on purchases will also mean you can stave off the interest bills from your holiday until Christmas if you splash out while on holiday."Analysis
Average 0% intro purchase term (amongst cards with intro deals) - 4.4 months
Average 0% intro balance transfer term (amongst cards with intro deals) - 9.8 months
Average introductory balance transfer fee - 2.08%
No. of credit cards with no intro balance transfer fee - 63
No. of credit cards with no intro balance transfer fee and a 0% intro BT deal - 7
Average length of 0% BT deal amongst cards with no BT fee - 5.7 months
Sean Gardner of MoneyExpert.com, said: "With the credit card market so competitive these days, when a new product comes along you have to ask what makes it stand out.
"In this case the best that can be said is that this is the only card, which won't penalise you for taking out cash abroad, so your best bet is to use it for summer spending. The interest free credit on purchases will also mean you can stave off the interest bills until Christmas if you splash out while on holiday.
"If you are looking for a fee-free card then Capital One and Norwich & Peterborough both match Abbey's six months interest free on balance transfers with no charge. But with no fees on foreign exchange Abbey's looks like the best option with summer approaching.
"Abbey's Zero card isn't a best buy on purchases or balance transfers. So if you're one of many looking for a lengthy balance transfer or you're about to make a big purchase then you're probably best to steer clear, despite the lack of fees.
"Around 80 per cent of credit cards offer a lower standard APR on purchases compared to Abbey's Zero card. And its standard balance transfer rate of 18.9 per cent is among the highest go-to rates on the market - only thirteen cards have a higher rate of interest if you choose to transfer a balance after the introductory rate expires.
"The fee-free idea is to be commended but most credit card customers should be savvy enough to spot the red herring. You should never take out cash with your credit card anyway and with a fairly average zero per cent balance transfer period the card won't hold its own amongst the more serious rate tarts."