Financial Services > Credit Cards > Credit Cards News

0 per cent credit cards from SkyCard surprise Moneyfacts

Wed, 21 Dec 2005

A new low rate credit card from SkyCard that does not charge interest on both balance transfers and new purchases for 12 months has surprised finance website Moneyfacts.

Moneyfacts' Andrew Hagger said that the SkyCard credit card is currently bucking the trend by offering the 0% credit cards.

Mr Hagger explained that many of the leading suppliers of 0% credit cards have been withdrawing the credit card offers.

He states that Halifax Bank of Scotland has reduced the period its 0% credit cards have the low interest rate from 12 to three months and Capital One has ended its 15-month credit card deal after being on the market for three months.

Mr Hagger said that the new credit card would be good news for 'rate tarts' - people who switch credit cards once the interest free period on them has ended.

However, he did point out that as bad debt is starting to impact on the market, only those with "near perfect" credit scores will be eligible to use one of the 0% credit cards.

The Moneyfacts representative also pointed out that people who choose the credit card will be required to pay a 2.5 per cent fee on any balance transfers that they make onto the credit card.
add to favouritesnewsletterlink to this pagesend to friendpost comments

Link to this page

Copy and Paste the following HTML into your page.

Choose a credit card

Choose the perfect card

Choose the right credit card for you and apply with confidence.

Choose a credit card