Earlier this month, we revealed that 29% of people we polled do not switch credit cards at the end of a 0% balance transfer offer and 16% only switched sometimes.
Of this 29%, 12% said that they usually forget and the other 17% said that they can’t be bothered.
It’s true that it can be hard to keep track of your finances. Let’s face it; it’s hard enough remembering to pay the bills, let alone trying to remember when a 0% balance transfer credit card offer is up.
If you are one of these people then you may want to consider getting the new HSBC credit card.
The card comes with a very low APR of 2.9%, for 24 months, on balance transfers made to the card within 30 days of opening the account.
This way, instead of getting an APR of 0% for an average of 12 months, and then reverting to an APR of around 15.9% when you don’t transfer to a new 0% balance transfer card, you would get the low APR of 2.9% for 24 months, which would work out cheaper for you overall.
The card also offers 0% APR on purchases for 12 months from the date the account is opened – one of the longest currently on the market.
What’s more, if you have a HSBC Plus Current Account or Graduate Plus Account, you can reclaim 10% of any interest you pay on your credit card.
Any balance transfers you make to the card will be subject to a 2.5% admin fee – one of the lowest on the market at present.
Click here for more information on the HSBC credit card.
This offer is current as of 04/04/2008. Please check the provider’s product page for more information and full terms and conditions. For more offers please refer to the ‘Offers’ section of compareandsave.com’s ‘Your money matters blog’.
