Monday 7th April 2008
Halifax is promising interest-free credit card balance transfers and new purchases with the launch of a new all-in-one zero-interest product.
The Halifax All-in-One Card charges a three per cent handling fee on credit card balance transfers.
Other than this, incoming balances are to remain free of additional interest for ten months.
New purchases are subject to the same zero-interest period - something which Halifax notes is rare in the current market.
"Few providers offer a card with the same zero per cent introductory offer on both balance transfers and purchases," the financial services provider comments.
This, it says, makes the card "ideal for people who want to transfer a balance as well as carry on using their card for spends without incurring any interest".
A typical rate of 15.9 per cent APR variable is to be put in place upon the expiry of the ten-month promotion.
Meanwhile, new research from child trust fund provider The Childrens Mutual reveals that parents may be less trusting of their offspring than they deserve.
Some 42 per cent of Britons asserted that teenagers would spend a lump sum on material goods, while a further 19 per cent would fritter it away on free-time activities.
But the young people surveyed by the firm held substantially different views about what they would be likely to do with any such windfalls.
The majority (57 per cent) would save towards their education or to purchase a property if given £20,000 on their 18th birthday, the study found.
David White, chief executive of The Childrens Mutual, comments: "This generation of young people has realised that saving now and spending later is a better approach."
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