First direct launches 20 month 0% balance transfer credit card deal

first direct has launched a credit card offer allowing customers 0% on balance transfers for 20 months.

The card, which compares favourably to competitors at 16.9%, runs alongside customers' first direct 1st Accounts.

Top five benefits of first direct's credit card:

0% balance transfer helps paydown debt faster

Customers with credit card or store card debt held elsewhere could save large amounts of money by transferring their balances to first direct. The interest free period reduces interest costs and by keeping repayments the same, more of your money goes towards paying down borrowings and clearing debt faster.

Helps balance monthly income and expenditure

For those who're financially savvy a credit card is an excellent way to make the most of their money.  As long as the card is paid off in full each month, no interest is payable.  Using the credit card for purchases frees up the customer's income, which for first direct customers means more cash in their current account which could used to offset any mortgage interest.

Easily managed

Customers can view all their transactions in Internet Banking, speak to a representative in the UK 24/7 and set up a text message service to regularly remind them of their balance and last five transactions.

Protection against fraud

first direct is a member of the Verified by Visa scheme which gives customers an extra layer of protection when making online purchases.  The customer is also completely protected against any purchases made on their credit card without their consent including online and abroad.

Protection for purchases

Customers are automatically protected for any item purchased with the first direct credit card which is damaged in transit, doesn't arrive or is not what was promised by the retailer.

Barnaby Jenkins, Head of Cards at first direct commented:"For those customers with balances on other credit cards first direct's offer really makes sense.  It's the perfect opportunity to pay off debt more quickly whilst avoiding monthly interest charges."