Related Credit Card Article

"Halifax extended interest free period on balance transfer card"

By admin | May 21st, 2009 | Balance Transfers

There was good news for credit card customers that are looking to transfer the balances off their high interest credit cards onto an interest free balance transfer credit card recently, with one major provider announcing that it was extending the interest free period available on its balance transfer card.

The longer interest free period is being offered on the Plus credit card from the Halifax, and will enable consumers to enjoy a longer period over which to repay their transferred debt without being charged any interest.

Balance transfer credit cards have become increasingly popular over recent years, with many people that have existing credit cards with outstanding debt and high rates of interest opting to transfer the debt from their existing cards onto a balance transfer card that charges no interest at all on the transferred debt for a specified period of time. The idea is for the cardholder to ensure that the transferred debt is repaid within that interest free period so that no interest is paid on the debt.

The Plus card from Halifax previously offered a generous interest free period of twelve months on balance transfers. However, the lender has now announced that this interest free period is being extended by one month so that the interest free period that is now offered will be thirteen months. The credit card, like most other balance transfer cards, charges a transfer fee of 3 percent of the total amount being transferred onto the card, but consumers then have thirteen months to repay the balance without being charged any interest.

However, like most other balance transfer credit cards the Plus card is available only to those that have a good credit rating, so many consumers may find that they are not able to get their hands on this deal if their credit is not up to scratch. However, those with damaged credit may be eligible for life of balance transfer cards, which charge no transfer fee and a very low rate of interest for the life of the transferred balance.

Tags: halifax plus credit card

Related Articles:

• Think carefully before taking out a 0% balance transfer credit card

  Over recent years 0% balance transfer credit cards have become a valuable tool for consumers that want to try and pay off their credit card balances without being charged further interest. Credit cards are known for the high rates of interest charges on outstanding balances, and many of those with one large credit card balance...

• Is it the end for capped balance transfer fees?

  Balance transfer credit cards have become very popular over recent years, but over time credit card companies have started to try and make up for the lost revenue that comes with offering a 0% interest period by charging balance transfer fees. A balance transfer card is used by those that have high interest credit card balances,...

• Life of balance transfer credit cards

  Many credit card users have benefited from balance transfer credit cards over recent years, as these credit cards have enabled savvy consumers to save a fortune on interest on their credit cards debts. Most standard credit cards charge very high rates of interest, and those that do not pay their balances off in full each...

• Watch out for catch with new Abbey offer

  New and existing customers of the Abbey credit card may have been delighted to hear recently that Abbey is offering a generous thirteen months of interest free credit on balance transfers to cardholders. The offer was launched at the start of this month, and means that customers that transfer their balances from other high interest...

• 0% purchase credit cards – what you need to know

  A 0% purchase credit card is ideal for those that like the convenience and ease of credit card spending, but do not want to get ripped off paying the high levels of interest that credit cards often charge. By using a 0% purchase credit card you can enjoy making huge savings in terms of interest,...

Other Recent Articles

Cash back credit cards set to become increasingly rare

The rewards based credit card has become very popular over recent years, particularly amongst those that tend to repay their...

By admin | March 9, 2010 | Read More

Capital One customers hit by huge increases on credit cards

According to recent reports many credit card customers that have cards with Capital One have been stung with huge increases...

By admin | March 5, 2010 | Read More

New high for credit card interest rates

Recently released figures have shown that credit card interest rates in the UK have reached a new high, despite the...

By admin | March 3, 2010 | Read More

Credit card firms reject many proposals

A number of proposals have been put forward recently to try and increase fairness for credit card customers, with the...

By admin | March 1, 2010 | Read More

Credit cards could be the ideal solution for holidaymakers

It has been suggested in a recent report that holidaymakers and those that travel abroad for any other reason could...

By admin | February 25, 2010 | Read More