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Abbey launches ‘market leading’ credit card

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by David Masters
Abbey launches 'market leading' credit card

Abbey launched a new ‘market leading’ credit card this week.

The reissued Abbey Credit Card now offers 0% interest on balance transfers for 15 months and on purchases for three months.

Interest after the introductory period rises to 15.9% APR.

Abbey said it decided to release the card as a way of helping people better manage their finances through the recession.

Recent research by Abbey found that over three million Brits are planning to transfer £7 billion between credit cards over the coming months to take advantage of introductory balance transfer periods.

“In the current economic climate, people are having to manage their finances more carefully,” said Roger Lovering, Abbey Credit Cards managing director.

“The new Abbey Credit Card is designed to appeal to people who want to manage their finances better.”

Price comparison site Moneyfacts.co.uk said the new card is one of the best available.

“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,” said Moneyfacts spokesperson Michelle Slade.

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News posted: March 6, 2009

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