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Halifax 25 Month Balance Transfer Credit Card Mastercard Review January 2020
This lengthy balance transfer card gives you time to pay off a large credit card bill, for a low transfer fee.
Halifax has a wide range of balance transfer deals available, and this one’s somewhere in the middle – with its respectably-lengthy 0% period, a low transfer fee and a 0% period on purchases.
You say: ★★★★★We say: ★★★★★
Doing its job: 4.5/5
In a nutshell:
0% interest on balance transfers
0% interest on purchases
|Issuer||Bank of Scotland|
|Balance transfers||0% for 25 months reverting to 19.95%|
|Balance transfer fee||1% for 3 months reverting to 3% (min. £3)|
|Purchases||0% for 12 months reverting to 19.95%|
|Purchases interest-free period||Up to 56 days|
|Min. credit limit||£0|
|Max credit limit||Not specified|
|Additional cards available||1|
Chris Lilly is a publisher at finder.com. He's a specialist in credit-based products including business and personal loans, mortgages and credit cards, and is passionate about helping UK consumers make informed decisions about their borrowing. In his spare time Chris likes forcing his kids to exercise more.
The Halifax 25 Month Balance Transfer Credit Card Mastercard offers a solid balance transfer deal that stands somewhere between the longest available on the market (that tend to have a costly balance transfer fee) and those with a 0% balance transfer fee (that tend to be shorter).
With a 1% for 3 months reverting to 3% (min. £3) balance transfer fee and a 25-month-long 0% deal on balance transfers, this card is likely to suit those transferring larger balances that might take a while to pay off, and who might need to use the card for upcoming purchases as well.
Realistically, for most people, there’s probably going to be a slightly more suitable card out there. But for a niche minority, this fine-tuned card will be perfect (and it’s certainly a competitive deal).
As usual, you should aim to clear the balance before the 0% interest period expires, otherwise the outstanding balance will start to accrue interest at a much less competitive rate. Don’t forget to plan in advance and set alarms for it . Since the purchase and the balance transfer deal don’t expire at the same time, you should be careful not to mix up these two different sets of debt and pay off your purchase balance first.
How does this card compare with other balance transfer deals?
Other balance transfer deals
When it comes to repayments, you can make manual repayments online or over the phone (0345 944 4555), or alternatively set up a direct debit. A direct debit is a great idea because it protects you from forgetting to make a repayment and either damaging your credit score, getting hit with a penalty fee or losing any promotional rates as a result. You can arrange a direct debit for repayments when you apply for the credit card. The table below shows the options available.
Choose from the following direct debit options for your monthly repayments:
|Minimum amount||Fixed amount||Fixed percentage||Full amount|
How to apply for the Halifax 25 Month Balance Transfer Credit Card Mastercard
If you’ve compared cards and want to apply, completing the secure online application form takes about 15 minutes. Before you apply, check that you meet the eligibility requirements and have the information and documents you’ll need to make the process as straightforward as possible.