Halifax are offering 20 months 0% on balance transfers with no fee.
Yes there are longer deals for 24 months or 32 months, but is it really worth paying best part of 1% fee for just 4 months extra unless you really need the extra time?
You may also get £20 topcashback.
I've taken the approach recently of going for short or long 0% periods with no or minimal fee, and just re-transferring at the end of each period. Of course, a re-transfer can't be guaranteed so if you need the money for a defined amount of time it may be better to go for one of the longer term deals.
For smaller amounts the 32 month Halifax deal posted elsewhere on this forum is a better deal. For larger amounts, this card may save you £100 in fees.
As an example, I found them to be very generous with credit limit and managed to bag more than £11k transfer - from Lloyds! - with no fee at all plus £20 TCB.
Unlike Barclaycard, Halifax have nice low 1% minimum repayments so your balance stays transferred for longer. The 2.5% minimums of BC mean that approx half gets repaid over a 2 year term.
Top comments
gwapenut
8 Oct 154#4
Yes that's the key difference - this one has no fee. Saves me best part of £100 on my own balance transfer, for 4 months less. Given that typical BT fees are 1.4% for 32 months, for my circumstances there is no point paying an extra 0.8% for 4 months.
But everyone has different requirements and a very nice feature of your card is the symmetrical balance transfer / purchases 0% periods.
All comments (30)
rooney10
8 Oct 15#1
pretty sure this is a repost matey ..... We have applied for 3 of these (after reading a deal that was posted on here about it) and all have tracked successfully.
gwapenut
8 Oct 15#2
No it's not a repost, I did check. There was an 18 month version a few months ago.
very similar but 0.8% balance transfer fee / upto 24 months 0% on purchases
gwapenut
8 Oct 154#4
Yes that's the key difference - this one has no fee. Saves me best part of £100 on my own balance transfer, for 4 months less. Given that typical BT fees are 1.4% for 32 months, for my circumstances there is no point paying an extra 0.8% for 4 months.
But everyone has different requirements and a very nice feature of your card is the symmetrical balance transfer / purchases 0% periods.
muffboy
8 Oct 15#5
Good deal with no BTF.
Betty21
8 Oct 15#6
can anyone help please? my tesco credit card will run out of its 18 months interest free purchase, I was thinking of cancelling and taking another interest free card so my question is if I keep my card and take this from Halifax will I be able to transfer the balance and pay no interest on my tesco CC?
mistermoneysaver to Betty21
8 Oct 151#12
Hi Betty. You apply for this card with no BT fee and when applying, transfer the balance from your tesco card to this one- there will be an option to do this in the application im sure. Once its gone over to the Halifax card, remember to either pay it off or BT again once the interest free period has finished.
akajay07 to Betty21
8 Oct 15#18
Yes, that's the main benefit of this card.
I'd would dent your credit record slightly, but would only be temporary. I wouldn't worry about it unless you're expecting to apply for a mortgage or loan in the next 6 months or so.
gwapenut
8 Oct 151#7
Yes I think you can, Halifax are not linked to Tesco.
But why would you keep your Tesco card? 6 or 8 months after cancelling you are free to apply to them again, and they offer some cracking fee-free BT deals.
In terms of earning points while you spend normally ... it won't be worth it after this month, you'd be better off with an amex or a 0.5% cashback card such as aqua, as the very most you could get through 4x boost at Tesco is 0.5%
Betty21 to gwapenut
8 Oct 15#23
Thank you gwapenuts I think I should follow your advice and cancel Tesco CC, the only reason I wanted to keep it was to collect points but when I got home this evening I found a post from them stating that from December I will have to spend £8 to earn 1 point (when spending outside tesco). so there is no point keeping the card as I don't often shop at tesco.
I am after purchase card not balance transfer.
mattgrant
8 Oct 15#8
Cracking. So could I get cash transferred and dump in Santander 123 account for two years provided I pay min each month:-) love that idea
gwapenut to mattgrant
8 Oct 15#9
Only if you have a mule card you can extract cash from - there is a fee for transferring to a current account on this Halifax one.
If you have a 123 a/c but no 123 card, consider that card too - I posted a deal a while ago, but annual fee is waived for a year, £36 for the 2nd, and you get 24 months 0% no fee on that one. So 24 months 0% for a flat £36 annual fee in the 2nd year. Again, you'll need a way of muling it into your current account. The 123 card also gives 24 months on purchases and offers true exchange rates abroad, so is a decent one to have in your portfolio.
rojih66
8 Oct 15#10
hi can you share the topcashback links?i can't find this deals with £20 cashback at topcashback website
gwapenut
8 Oct 15#11
I can't seem to post it, but you append /halifax-10-10-balance-transfer-card to the TCB url.
Grohller
8 Oct 15#13
New Customers Only :disappointed:
chelseachris
8 Oct 151#14
I got 13 months balance transfer and 6 month purchase. Good result with Xmas around the corner.
Gallup
8 Oct 15#15
Get the clarity while you´re at it... Best Credit Card I ever had... when abroad just take cash out the machine and don´t get charged (well as long as you pay it back quick). Also Halifax online set up is better than any other bank i´ve been with... I signed up to First Direct recently and it´s like being back in 1995! Alright enough Halifax lovin!
kr00t0n
8 Oct 15#16
I took out a Virgin Money card last month, would applying for one of these hurt my credit score?
I've been trying to be creative with my spend, so moving Barclaycard balance to Virgin for the 0% interest, then booking my holiday on my cleared Barclaycard.
Ideally, I'd like to transfer again so that my holiday becomes interest free, so this looks like a good option, especially with no transfer fee.
matthewmarsh to kr00t0n
8 Oct 15#21
Wouldn't you be better off getting a 0% purchases card to buy your holiday on then you get longer 0% period (24,25 &26 months from MSE best buys) to pay it off with the same impact of getting a new card to your credit score. This will depend on who you've already got your cards with
dodgymix
8 Oct 15#17
Wow, 200 degrees and no Martin Lewis comment as yet
cliosport65 to dodgymix
9 Oct 15#30
already on his site :wink:
kr00t0n
8 Oct 15#19
Given I'm signed in to my rental lease for another 10 months, should be good to go, thanks :smile:
gwapenut to kr00t0n
8 Oct 15#20
Go for it! Any impact should be negligible then.
kr00t0n
8 Oct 15#22
Holiday has already been booked on my non-0% card unfortunately
Betty21
8 Oct 15#24
Thank you.
gwapenut
8 Oct 15#25
In that case, the 24 month Halifax purchase/BT may be the best bet for you, the one someone mentioned near the top of this thread. No points on purchases, but 2 years interest free.
If you want points too, then the M&S card gives a shorter period at about 18 months interest free but also 0.5% back to spend instore. But no topcashback.
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Opening post
Yes there are longer deals for 24 months or 32 months, but is it really worth paying best part of 1% fee for just 4 months extra unless you really need the extra time?
You may also get £20 topcashback.
I've taken the approach recently of going for short or long 0% periods with no or minimal fee, and just re-transferring at the end of each period. Of course, a re-transfer can't be guaranteed so if you need the money for a defined amount of time it may be better to go for one of the longer term deals.
For smaller amounts the 32 month Halifax deal posted elsewhere on this forum is a better deal. For larger amounts, this card may save you £100 in fees.
As an example, I found them to be very generous with credit limit and managed to bag more than £11k transfer - from Lloyds! - with no fee at all plus £20 TCB.
Unlike Barclaycard, Halifax have nice low 1% minimum repayments so your balance stays transferred for longer. The 2.5% minimums of BC mean that approx half gets repaid over a 2 year term.
Top comments
But everyone has different requirements and a very nice feature of your card is the symmetrical balance transfer / purchases 0% periods.
All comments (30)
very similar but 0.8% balance transfer fee / upto 24 months 0% on purchases
But everyone has different requirements and a very nice feature of your card is the symmetrical balance transfer / purchases 0% periods.
I'd would dent your credit record slightly, but would only be temporary. I wouldn't worry about it unless you're expecting to apply for a mortgage or loan in the next 6 months or so.
But why would you keep your Tesco card? 6 or 8 months after cancelling you are free to apply to them again, and they offer some cracking fee-free BT deals.
In terms of earning points while you spend normally ... it won't be worth it after this month, you'd be better off with an amex or a 0.5% cashback card such as aqua, as the very most you could get through 4x boost at Tesco is 0.5%
I am after purchase card not balance transfer.
If you have a 123 a/c but no 123 card, consider that card too - I posted a deal a while ago, but annual fee is waived for a year, £36 for the 2nd, and you get 24 months 0% no fee on that one. So 24 months 0% for a flat £36 annual fee in the 2nd year. Again, you'll need a way of muling it into your current account. The 123 card also gives 24 months on purchases and offers true exchange rates abroad, so is a decent one to have in your portfolio.
I've been trying to be creative with my spend, so moving Barclaycard balance to Virgin for the 0% interest, then booking my holiday on my cleared Barclaycard.
Ideally, I'd like to transfer again so that my holiday becomes interest free, so this looks like a good option, especially with no transfer fee.
https://www.halifax.co.uk/creditcards/balance-transfer-and-purchase-card/
Don't forget TCB.
If you want points too, then the M&S card gives a shorter period at about 18 months interest free but also 0.5% back to spend instore. But no topcashback.