Halifax One card 'could save you money'

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Halifax One card 'could save you money'

Wed 25th Oct 2006

Customers using the Halifax One card could save money by purchasing items such as clothing and footwear on their card, according to the bank.

It was found in research undertaken by Halifax Credit Cards that people in the UK spent £43.7 billion on clothes and footwear in 2005.

This figure relates to five per cent of a household's disposable income and the Halifax One card – which offers customers zero per cent on purchases for nine months – could save themselves money when considering that other credit cards charge interest on purchases.

Peter Jackson, head of products at Halifax, remarked that people should be aware of costs that can mount up when purchasing clothing on a credit card: "That garment may appear to be a bargain but this can be far from the truth if you are still paying interest on it months later."

"The Halifax One card charges zero per cent on both balance transfers and new purchases so whether you have an existing balance to move, or have a future spend in mind, you won't accrue any interest for the first nine months," Mr Jackson added.

The bank claims that by using a Halifax One card, a customer could see savings of £84.17 over the first 12 months if switching to this card.

A typical APR of 9.9 per cent is available on the Halifax One card and for the first nine months, zero per cent is offered on all balance transfers.

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