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Halifax launches 0% credit card

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by David Masters
Halifax launches 0% credit card

Halifax this week launched a new online credit card for customers looking to consolidate their debts for the year ahead.

Research by the bank found that January is a popular month for customers to request credit card balance transfers as they consolidate their Christmas debts.

January is also a time that many people take stock of their financial situation. Over half (57%) of those asked by Halifax said they had intended to review their finances at the start of the New Year.

Taking note of the findings, Halifax has launched the All-in-One credit card, which offers 0% APR for 9 months on balance transfers and purchases.

Interest rises to 15.9% APR after the 9 month introductory period.

Average outstanding debt per credit card holder is £1,856. A cardholder with this balance on a rate of 17.9% would save £151.37 over a 12 month period by switching to Halifax.

Alan Brindley, head of card services at Halifax, said: “The card is ideal for customers who would like to reduce the cost of their spending or even reduce the cost of outstanding debt through a balance transfer.”

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News posted: January 21, 2009

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