In this guide

  • Our verdict
  • Details
    • Product Overview
    • Fees and charges
    • Application Requirements
  • Your reviews

Halifax 0% Purchase and Balance Transfer Credit Card review 2023

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Halifax 0% Purchase and Balance Transfer Mastercard
3.5
★★★★★
Finder score
Representative example:
When you spend £1,200 at a purchase rate of 23.94% (variable) p.a., your representative rate is 23.9% APR (variable).
0% interest on balance transfers
17 months
0% interest on purchases
17 months
Account fee
£0

Our verdict

For those seeking for more than just a break from interest, this versatile card has a lengthy offers on balance transfers and purchases.

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

  • Customers report excellent customer service when dealing with Halifax
  • 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

Cons

  • Applicants with low credit scores are unlikely to be eligible

In this guide

  • Our verdict
  • Details
    • Product Overview
    • Fees and charges
    • Application Requirements
  • Your reviews

Details

Product Overview

Issuer Bank of Scotland
Network Mastercard
Annual/monthly fees £0
Balance transfers 0% for 17 months reverting to 23.94%
Balance transfer fee 2.99% for 3 months reverting to 5%
Purchases 0% for 17 months reverting to 23.94%
Purchases interest-free period Up to 56 days
Cash advances 23.94%
Minimum credit limit £0
Maximum credit limit Subject to status
Additional cards available 1
Potential costs ★★★★★
Doing its job ★★★★★
Extras ★★★★★
Overall Finder rating ★★★★★

Fees and charges

Minimum monthly payment 2.5% or £5 (whichever is greater) or the total of any interest, default fees and charges plus 1% of the outstanding balance.
Annual/monthly fees £0
Balance transfer fee 2.99% for 3 months reverting to 5%
Foreign usage charge (EU) 2.95%
Foreign usage charge (rest of world) 2.95%
Cash advance fee 5% (min. £0)
Late payment fee £12
Replacement card fee £0
Duplicate statement fee £0
Exceeding limit fee £0
Additional card fee £0
Dormancy fee £0

Application Requirements

Minimum Age 18
Availability Available to new customers
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How does it compare?

Halifax's card

1 - 1 of 1
Name Product Ratings Finder rating Customer rating Balance transfers Money transfers Purchases Annual/monthly fees Representative APR Link Incentive Representative example
Halifax 0% Purchase and Balance Transfer Mastercard
Finder score
★★★★★
User survey
★★★★★
★★★★★
Expert analysis
★★★★★
User rating
0% for 17 months
(2.99% fee)
N/A
0% for 17 months reverting to 23.94%
£0
23.9% APR (variable)
Representative example: When you spend £1,200 at a purchase rate of 23.94% (variable) p.a., your representative rate is 23.9% APR (variable).
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Other popular matched 0% deals

Table: sorted by length of 0% offer
1 - 3 of 3
Name Product Ratings Finder rating Customer rating Balance transfers Money transfers Purchases Annual/monthly fees Representative APR Link Incentive Representative example
Ulster Bank Purchase & Balance Transfer Credit Card Mastercard
Finder score
★★★★★
★★★★★
Expert analysis
Not yet rated
0% for 17 months
(0% fee)
26.9%
(3% fee)
0% for 17 months reverting to 24.9%
£0
24.9% APR (variable)
Representative example: When you spend £1,200 at a purchase rate of 24.9% (variable) p.a., your representative rate is 24.9% APR (variable).
MBNA 0% Transfer and Purchase Credit Card
Finder score
★★★★★
User survey
★★★★★
★★★★★
Expert analysis
★★★★★
User rating
0% for 18 months
(3.49% fee)
0% for 12 months
(4% fee)
0% for 18 months reverting to 23.94%
£0
23.9% APR (variable)
Earn up to 15% cashback on purchases through Smart Rewards at popular retailers.
Representative example: When you spend £1,200 at a purchase rate of 23.94% (variable) p.a., your representative rate is 23.9% APR (variable).
Santander World Elite Mastercard
Finder score
★★★★★
User survey
★★★★★
★★★★★
Expert analysis
★★★★★
User rating
0% for 18 months
(0% fee)
N/A
0% for 18 months reverting to 18.9%
£15 per month
49.8% APR (variable)
0.5% on £1 to £3000 of monthly spend. Maximum of £15 cashback paid per month. Cashback paid Monthly into Card Account. Maximum spend for cashback purposes is limited to credit limit.
Representative example: When you spend £1,200 at a purchase rate of 18.9% (variable) p.a. with a fee of £15 per month, your representative rate is 49.8% APR (variable).
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Approval for any credit card depends on your status. The representative APRs shown represent 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.

Repayment options

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 could use a fixed-amount direct debit to ensure you've cleared your debt before the 0% period expires – simply divide your outstanding balance by 17 to see what you'll need to pay each month (this assumes you don't use the card for additional spending).

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 settled on the Halifax 0% Purchase and Balance Transfer Mastercard, 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.

Frequently asked questions

Can I withdraw cash using the Halifax 0% Purchase and Balance Transfer Mastercard?

Although it's possible, withdrawing cash from a credit card account is generally not a good idea, as "cash-like transactions" (such as withdrawing cash at an ATM, getting cashback at the till, spending at a casino or buying currency) often incur steep fees and/or higher rates of interest.

The cash advance fee on the Halifax 0% Purchase and Balance Transfer Mastercard is 5%.

The interest rate on this part of your balance will be 23.94% (chargeable from the day of the transaction – the card's usual "up to 56 days interest-free" grace period won't apply).

How much does it cost to use the Halifax 0% Purchase and Balance Transfer Mastercard abroad?

Non-sterling transactions are subject to a 2.95% charge. For example, if you spend 200 euros (£171.72), it'll cost you around £5.07 in fees.

What is the minimum payment on the Halifax 0% Purchase and Balance Transfer Mastercard?

Each month you must pay at least 2.5% of your balance at that point or £5.00 – whichever of the 2 figures is greater. So if you had, say, £180.00 outstanding, you'd pay £5.00, and if you had £800.00 outstanding, you'd pay £20.00.

Paying only the minimum required amount each month is generally not advisable as it makes it much harder to get debt-free before that introductory 0% period expires.

Finder credit card ratings

★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor

Our experts score matched/balanced credit cards to determine their value against similar products on the market. We look at a number of important factors, like the length of the introductory offer, balance transfer fees, any restrictions to the offer, plus the potential costs involved with running the card both in the short and longer term.

You can read more about our scoring criteria on our credit card methodology page.

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We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.

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