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Halifax: Credit card balance transfers on the up in 2009

New research has found an increase in the number of applications for credit card balance transfers.

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20 January 2009

Halifax: Credit card balance transfers on the up in 2009”

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The findings of a study, commissioned by Halifax and carried out GfK NOP in December, have indicated more people are deciding to organise their finances by transferring debts from more expensive products.

Halifax stated the figures also suggest British people are persisting with their new year's resolutions by getting their money in order.

Alan Brindley, head of card services, said the company was pleased by the study.

"Our own figures show an uplift in the number of people seeking to take advantage of balance transfer deals.

"We're delighted to see many people are organising their finances after the festive period."

Halifax added the average credit card user could save up to £151 by choosing a product such as its online All-in-One credit card.

It also offers a range of charity cards, which allow users to make a donation to Cancer Research UK or the NSPCC every time they make a purchase.

Written by Sam Dawson

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Credit Cards	0% Balance Transfers	0% Purchases	APR Representative (Variable)
	Tesco ClubCard Credit Card
	9 months	15 months	16.9^%
16.9% APR representative (variable). Based on a credit limit of 1200 and purchase rate 16.9% p.a(variable).
	Virgin Credit Card
	20 months	3 months	16.8^%
16.8% APR representative (variable). Based on a credit limit of 1200 and purchase rate 16.8% p.a(variable).
	Barclaycard Platinum with BT
	22 months	3 months	17.5^%
17.5% APR representative (variable). Based on a credit limit of 1200 and purchase rate 17.5% p.a(variable).
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