Abbey launches market leading credit card

Abbey has launched its latest credit card, offering the longest balance transfer period on the high street to help customers more effectively manage their existing card balance, as well as one of the best rates on ongoing purchases and spending.

The new Abbey Credit Card is aimed at people who are looking for a great value, straightforward card that is easy to manage and use.

Roger Lovering, Managing Director of Abbey Credit Cards, said: "With 0 per cent on balance transfers for 15 months, the new Abbey Credit Card is designed to appeal to people who want to manage their finances better by transferring an outstanding card balance to a 0 per cent rate.

"In the current economic climate, people are having to manage their finances more carefully and from talking to our customers, it became clear that current priorities are very much about good financial management and value for money. The simplicity of our new card reflects this and also enables us to offer the best deal on the high street.

"Abbey Credit Cards is committed to innovation and value and we are continually looking to lead the way within the industry. As a growing business, the latest Abbey Credit Card represents a clear commitment to customers that we will continue to offer great products that are competitive and meet their needs."

Michelle Slade of Moneyfacts commented: "Personal debt continues to increase in the UK and this new card from Abbey is a real option for those looking to get their credit card debt back in order. While other providers are reducing or withdrawing their balance transfer deals entirely, it is great to see Abbey bucking this trend to launch a market leading deal. The combination of offering 0 per cent interest for 15 months with a below average APR of 15.9 per cent is likely to send this card to the top of best buy tables."

David Kuo of the Motley Fool commented: "The new Abbey Credit Card is a refreshing oasis for consumers trapped in an unforgiving credit desert. It is ideal for people looking for respite from the credit crunch. With a lengthy 15 month balance transfer period, cash-strapped credit card customers will have time on their side to sort out their finances."

Andrew Hagger of Moneynet.co.uk commented: "The ability to keep interest costs to a minimum is helping many consumers maintain control of their finances during these difficult times. The long term 0 per cent balance transfer war shows no sign of abating and this new 15 month deal from Abbey will be warmly welcomed as customers continue to seek shelter from the increasing cost of plastic debt. This is the latest in a line of highly competitive card deals from Abbey."

According to research by Abbey Credit Cards, more than 3 million Britons (7 per cent) are planning to shift over £7 billion pounds between credit cards over the coming months to take advantage of introductory balance transfer periods.