Halifax Balance Transfer Credit Card

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  • Cash Advance Fee:
  • Cash Advance Rate:
  • Intro Balance Transfer Duration:
  • Intro Balance Transfer Fee:
  • Intro Balance Transfer Rate:
  • Intro Purchase Duration:
  • Intro Purchase Rate:
  • Representative APR:
  • Standard Balance Transfer Rate:
  • Standard Purchase Rate:
  • 3%
  • 27.95% p.a.
  • 25 months
  • 2.0%
  • 0% p.a.
  • 3 months
  • 0% p.a.
  • 18.9% p.a. variable
  • 18.95% p.a.
  • 18.95% p.a.

Pros

  • 0% on balance transfers of up to £3,00 for 25 months

  • 0% on purchases for 3 months

  • No annual fee

  • Internet purchases covered by fraud protection

Cons

  • Only £3,000 can be transferred

  • 0% offer on purchases lasts only 3 months

Best Features of the Halifax Balance Transfer Credit Card

  • 0% for 25 months on balance transfers of up to £3,000
  • 0% for 3 months on purchases
  • Pay no annual fee for life
  • Active fraud monitoring provides cover for online shopping
  • Read the terms and conditions

Our Review

The Halifax Balance Transfer credit card is a serious contender for your next credit card, especially if you want to lock in a 0% p.a. interest rate to get your debt under control. But not only does it have an excellent balance transfer offer, but it also has a useful introductory purchase rate of just 0% p.a..

Who it’s for

This card has been created with one group of people in mind. If you have a debt of less than £3,000 and want to get debt free and save some money with lower interest rates, then this card is for you. It does have an interest free offer on purchases, but this really does play second fiddle to the main star of the show – the balance transfer deal.

Eligibility

Halifax’s Balance Transfer credit card offer has comparatively low approval criteria. You need to be at least 18 years old, a UK citizen and have a regular income.

Balance transfers

The name of the game is easy to work out from the card’s name alone. With an introductory interest rate of 0% p.a. for 25 months on balance transfers of up to £3,000, this is an offer that beats most of the market hands down. If you have a small debt to pay off and want to do so over a long period of time, then this is definitely a card worth applying for.

There is one caveat though. The Halifax Balance Transfer credit card has a maximum allowed balance transfer of £3,000, which isn’t much. If you have a larger amount of debt to pay back then check out a card without a limit on how much can be transferred. Not only will that save you the hassle of having to manage multiple accounts, which goes against the grain of consolidation, but it’ll also cost you more money because of the balance transfer fees charged.

As with any other credit card on the UK market, there is a balance transfer fee to pay, in this case 2.0%.

Purchases

The balance transfer facility may be the headline attraction, but this card also packs an introductory 0% p.a. offer on purchases for a period of 3 months. Let’s be clear though. This isn’t the longest interest free period on purchases available, but then that’s not the card’s intended bias. Nevertheless, if you need to make purchases, not being charged any interest for 3 months is a welcome help. Any purchases made outside the introductory period will be charged at the standard purchase rate of 18.95% p.a. until the balance has been paid off.

It’s also worth noting that there is an interest free period on purchases. Therefore, you can avoid paying interest if you pay off what you owe on time by the end of the month.

Cash advances

As is the case with any other card currently available, cash withdrawals made with the Halifax Balance Transfer credit card are not cheap. Apart from the 3% cash advance fee, you’ll be charged at the rate of 27.95% p.a. until paid back. In other words, it’s best to only use the card’s cash withdrawal facility in case of emergency and pay it off as soon as possible.

Security & fraud protection

The Halifax Balance Transfer credit card features active fraud monitoring as well as cover against fraud when using the card to shop online. As a MasterCard, cardholders are also protected by MasterCard SecureCode.

Conclusion

Want to move a balance and pay zero interest for 25 months? Then this is the card for you! Apply online today.