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Abbey announces zero per cent credit card

Mon, 11 May 2009

Today (May 11th) sees the re-launch of high street bank Abbey's Zero credit card which also offers charge-free foreign usage for those wishing to get away during the summer.

Offering an interest rate of zero per cent on balance transfers for 12 months, the credit card charges no fee for cash advances, which could be helpful for the moments when an emergency lump sum is needed.

According to the bank, it is the only credit card on the market which does not enforce foreign-usage charges, meaning that holidaymakers can withdraw cash abroad without increasing the cost of their break.

Andrew Hagger, of financial advice website Moneynet.co.uk, said: "British holidaymakers heading overseas will be hit hard by the weakness of sterling this year so the ability to make purchases without the usual 2.75 per cent plus fee will give a much needed boost to the holiday kitty."

Credit card provider Egg recently announced that it will raise its charges for withdrawals in this country by 0.5 per cent, from 2.5 to three per cent, starting on July 1st.
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