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Saga Personal Finance has vowed to help consumers "make their hard-earned money go further" by reducing the APR on its credit cards.

The company's latest platinum credit card sees APR cut to 11.9% for both new and existing customers.

In addition, Saga has extended its introductory 0% on balance transfers and purchases to nine months for new cardholders.

Andrew Goodsell, chief executive of Saga Group, said the new initiatives are prompted by the economic downturn.

He explained: "It is more important than ever that people take a good look at their finances. We are playing our part as, unlike many other providers, we are significantly reducing the interest rate on our credit card."

Saga also guarantees platinum cardholders that repayments are ordered fairly, with the largest debts cleared first after interest and fees.

Other benefits of Saga credit cards were expounded in the Telegraph recently.

In an article offering advice on the best deals for holiday money, it was noted Saga charges a 0% loading fee in Europe but a 2.5 per cent fee for withdrawals.

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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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