Approval for any credit card will depend on your status. The APR shown represents the interest rate offered to most successful applicants. Depending on your personal circumstances the APR you're offered may be higher, or you may not be offered credit at all. Fees and rates are subject to change without notice. It's always wise to check the terms of any deal before you borrow.
Halifax 0% Purchase and Balance Transfer Credit Card review 2020
For those seeking for more than just a break from interest, this versatile card has a lengthy offers on balance transfers and purchases.
You say: ★★★★★We say: ★★★★★
Doing its job: 4/5
In a nutshell:
0% interest on balance transfers
0% interest on purchases
|Issuer||Bank of Scotland|
|Balance transfers||0% for 17 months reverting to 19.95%|
|Balance transfer fee||2.99% for 3 months reverting to 5%|
|Purchases||0% for 17 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.
This is a so-called “balanced” card, which means that the 0% offer applies both to balance transfers and future purchases. If you need to transfer an existing credit card balance to save interest, but also anticipate making further purchases on your card, this deal ticks both boxes.
The 0% deal is fairly long (although not the longest on the market) and there is no annual fee. However, the 2.99% for 3 months reverting to 5% balance transfer fee can amount to quite a sum, especially if you have a large balance to transfer. If your only focus is paying back debt while spending as little as possible in fees and interest, there are more competitive deals out there. If you also want the 0% deal on purchases instead, this card is worth a thought.
In any case, if you go for this card, keep in mind that after the introductory rate period expires any outstanding balance will be charged interest at a significantly higher rate, both on purchases and old balances. You really need a plan to have paid it all off by then.
Finally, don’t expect too much in terms of rewards and perks. This card is strictly about the financial side of things, so you’ll have to get your cool discounts and treats someplace else.
Pros and cons
- Over a year of 0% interest to focus on reducing existing card debt
- Over a year to spread the cost of purchases
- No annual fee
- Applicants with low credit scores are unlikely to be eligible
How does it compare?
Other popular matched 0% deals
You can make manual repayments through Halifax's app, by logging in to your online banking or over the phone (0345 944 4555). Alternatively you may wish to set up a direct debit.
A direct debit protects you from forgetting to make a repayment and either damaging your credit score, getting hit with a penalty fee (£12) 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
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.