0 Per Cent Balance Transfer and Purchase Deals at All Time High

CHESTER, England, November 23, 2011 -

• Launch of Halifax All In One Credit Card is first dual 15 months zero per cent credit card on balance transfer and purchases

Anyone looking for a credit card is set to benefit from greater competition in the market with the length of promotional rates on balance transfers and purchases at an all time high, according to analysis by MoneySupermarket.com.

The average promotional length for 0 per cent balance transfers currently stands at 21 months, and the average length of a 0 per cent purchase card is the highest it’s ever been at 15.4 months. This increase is down to the launch of the Halifax All In One Credit Card, offering a market leading 0 per cent on both balance transfers and purchases for up to 15 months. The card comes with a balance transfer fee of 3 per cent, and a typical APR of 17.95 per cent, although use the card to get cash from an ATM and you will be charged 27.95 per cent.

Kevin Mountford, head of banking at MoneySupermarket.com, comments: “There is no doubt that a long term dual purpose credit card is a welcome addition to the credit card market as it allows consumers to spread the cost of shopping and debt consolidation. The appetite for lenders to attract new credit card customers continues despite the current economic climate.

“It is worth bearing in mind that although many customers will receive the 0 per cent offer for 15 months, this card is risk-based so if you have a less than good credit profile you are unlikely to get this specific deal and may be offered an alternative.

“As always, anyone transferring an existing debt on to a balance transfer card should aim to pay off that debt before the promotional rate expires otherwise you will be hit by much higher interest charges, likewise if you are using a purchase card to take advantage of the zero per cent offer. With an offer like this, it can be tempting to use the card regularly for all spending, however make sure you borrow responsibly so you are not left with debts at the end of the promotional period.”

moneysupermarket.com’s customer commitment

• No other site compares more prices or products
• We are independent so only find the best deals for you   
• The price you see is the price you pay - you don’t need to go direct and you won’t get a better deal doing so   
• Your details are safe with us and we won’t sell them to anybody

moneysupermarket.com compares (at 28th October 2011)

• 102 car insurance providers and 78 home insurance providers
• 12 broadband providers and 18 energy providers   
• 29 unsecured loan and 7 secured loan providers
• 62 mortgage lenders and 27 credit card providers
• 70 savings providers and 35 current account providers.
• Over 890,000 mobile phone deals

We promise to be clear and impartial

• All the products in our full search results tables are displayed in a completely unbiased manner.
• We don’t add fees or commissions on to the prices we compare.
• There may be times when another site compares more companies than us on a particular product, perhaps because of market changes or technical issues. You’ll be able to see this and know we are working hard to fix it.

We promise to be trustworthy

• We never use your data to make unwanted sales calls or send you spam.
• We never pass your personal information to third parties unless you give us permission to do so.
• Even if you choose to receive additional information from us, you can opt out at any time. 
• We promise to be supportive.
• You can use our community forum to get information and help from other customers.

If you need further help or support, you can contact our sales advisors, customer services agents.

For further information, please contact:
 
Kevin Mountford
Head of banking
+44(0)787-237-8537
kevin.mountford@moneysupermarket.com

Paul Lawler
PR Manager (Financial Services)
+44(0)1244-370317
paul.lawler@moneysupermarket.com

.