Halifax 0% Purchase and Balance Transfer Credit Card review 2021

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

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Representative example: When you spend £1,200 at a purchase rate of 21.93% (variable) p.a., your representative rate is 21.9% APR (variable).

17 months

0% interest on balance transfers

21.9%

Representative APR

17 months

0% interest on purchases

£0

Account fee

Details

IssuerBank of Scotland
NetworkMastercard
Annual/monthly fees£0
Balance transfers0% for 17 months reverting to 21.93%
Balance transfer fee2.99% for 3 months reverting to 5%
Purchases0% for 17 months reverting to 21.93%
Purchases interest-free periodUp to 56 days
Cash advances21.93%
Min credit limit£0
Max credit limitNot specified
Additional cards available1

Review by


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.

Expert review

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

Pros

  • 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

How does it compare?

Halifax's card

Name Product Balance transfers Money transfers Purchases Annual/monthly fees Representative APR Link Incentive Representative example
Halifax 0% Purchase and Balance Transfer Mastercard
0% for 17 months
(2.99% fee)
N/A
0% for 17 months reverting to 21.93%
£0
21.9% APR (variable)
Representative example: When you spend £1,200 at a purchase rate of 21.93% (variable) p.a., your representative rate is 21.9% APR (variable).
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Other popular matched 0% deals

Table: sorted by length of 0% offer
Name Product Balance transfers Money transfers Purchases Annual/monthly fees Representative APR Link Incentive Representative example
M&S Bank Shopping Plus Credit Card
0% for 22 months
(2.9% fee)
N/A
0% for 22 months reverting to 21.9%
£0
21.9% APR (variable)
Check eligibility
Earn 1 point for every £1 spent at Marks and Spencer's and 1 point for every £5 spent elsewhere. 100 points = £1 reward voucher. Points will be converted into reward vouchers 4 times a year.
Representative example: When you spend £1,200 at a purchase rate of 21.9% (variable) p.a., your representative rate is 21.9% APR (variable).
HSBC Purchase Plus Credit Card Visa
0% for 18 months
(2.9% fee)
N/A
0% for 18 months reverting to 22.9%
£0
22.9% APR (variable)
Check eligibility
Discounts and exclusive offers for dining experiences, leisure activities and shopping available through HSBC Home and Away.
Representative example: When you spend £1,200 at a purchase rate of 22.9% (variable) p.a., your representative rate is 22.9% APR (variable).
Sainsbury's Bank Dual 22 Month Offer Credit Card Mastercard
0% for 22 months
(3% fee)
25.95%
(4% fee)
0% for 22 months reverting to 20.95%
£0
20.9% APR (variable)
Earn 3 Nectar points per £1 spent in Sainsbury's and Argos. Earn 1 Nectar point for every £5 spent elsewhere. Earn 500 bonus points each time you spend £35 or more on Sainsbury's shopping with your credit card, up to ten times in your first 2 months, offer available for new customers.
Representative example: When you spend £1,200 at a purchase rate of 20.95% (variable) p.a., your representative rate is 20.9% APR (variable).
MBNA 0% Transfer and Purchase Credit Card
0% for 21 months
(2.99% fee)
0% for 12 months
(4% fee)
0% for 21 months reverting to 21.93%
£0
21.9% 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 21.93% (variable) p.a., your representative rate is 21.9% APR (variable).
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Approval for any credit card will depend 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 21.93% (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 (£169.48), it'll cost you around £5.00 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 two 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.

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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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