HSBC launches new credit card

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HSBC launches new credit card

HSBC has announced that it is doubling the interest free period for balance transfers on its new credit card.

This means that HSBC is one of the few providers offering zero per cent interest on balance transfers for a full 12 months, giving borrowers the chance to reduce the cost of their borrowing.

The new offer will include zero per cent interest on purchases for three months and a typical annual percentage rate (APR) of 15.9 per cent.

HSBC's new offering will also include the bank's unique price promise insurance which guarantees that cardholders need never pay over the odds for purchases made on their card.

"At HSBC we continually look for ways in which we can help borrowers better manage their debt and we recognise that people are becoming more careful with their credit card borrowing," HSBC head of consumer cards Spencer May said.

"This is evidenced by recent reports which show UK credit card borrowing falling in four out of the last six months."

HSBC's advanced fraud detection system also detects any unusual activity on a card in order to help prevent fraud and includes zero fraud liability.

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