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first direct launches a 20 month 0% balance transfer credit card deal

01 Sep 2011

On 1 September first direct will launch a credit card offer allowing customers 0% on balance transfers for 20 months.  The card, which compares favourably to competitors at 16.9%, runs alongside customers' first direct 1st Accounts. 

 

Top five benefits of first direct 's credit card: 

0% balance transfer helps paydown debt faster 

Customers with credit card or store card debt held elsewhere could save large amounts of money by transferring their balances to first direct . The interest free period reduces interest costs and by keeping repayments the same, more of your money goes towards paying down borrowings and clearing debt faster. 

Helps balance monthly income and expenditure 

For those who're financially savvy a credit card is an excellent way to make the most of their money.  As long as the card is paid off in full each month, no interest is payable.  Using the credit card for purchases frees up the customer's income, which for first direct customers means more cash in their current account which could used to offset any mortgage interest.

Easily managed 

Customers can view all their transactions in Internet Banking, speak to a representative in the UK 24/7 and set up a text message service to regularly remind them of their balance and last five transactions. 

Protection against fraud 

first direct is a member of the Verified by Visa scheme which gives customers an extra layer of protection when making online purchases.  The customer is also completely protected against any purchases made on their credit card without their consent including online and abroad. 

Protection for purchases  

Customers are automatically protected for any item purchased with the first direct credit card which is damaged in transit, doesn't arrive or is not what was promised by the retailer. 

Barnaby Jenkins, Head of Cards at first direct commented: 

"For those customers with balances on other credit cards first direct 's offer really makes sense.  It's the perfect opportunity to pay off debt more quickly whilst avoiding monthly interest charges." 

For further information please contact Amanda Brown on 01132766700 or amanda.brown@firstdirect.com and Rebecca Hirst on 01132766899 or rebecca.hirst@firstdirect.com  

 

>ends<

 

Notes to Editor 

http://www1.firstdirect.com/1/2/creditcards 

Full Terms and Conditions 

  • Issued by first direct , a division of HSBC Bank plc. Credit subject to status.
  • This promotion is only available to new or existing first direct current account customers.
  • This offer excludes those who closed their first direct Credit or Gold Card within the last 6 months.
  • The rate for balance transfers will be 0% for 20 months on transfers made within the first 2 months of account opening. A 2.9% balance transfer fee applies to each balance transferred (minimum £5).
  • The balance transfer promotion only applies to balances transferred from credit and store cards issued by non-members of the HSBC Group.
  • Transfers made at the end of the promotional rate period the rate will revert to the standard variable rate applicable for balance transfers
  • Further conditions apply. 

Product Features 

first direct Gold Card

  • £3,000 minimum credit limit (subject to status)
  • No annual fee
  • BT fee of 2.9% (minimum £5) applies to all transfers
  • Typical 16.9% APR variable
  • 23.9% on cash advances.
  • Real people to answer your calls, 24 hours a day, 7 days a week, 365 days a year
  • Manage your account by phone, online or both
  • Option of regular text message mini-statements direct to your mobile phone.

 first direct Credit Card

  • No annual fee.
  • Transfer of £500 within 2 months of account opening (excluding Balance Transfers from HSBC, HFC and M&SMoney)
  • BT fee of 2.9% (minimum £5) applies to all transfers
  • Typical 19.9% APR variable
  • 24.7% on cash advances
  • Protection against internet fraud on transactions made without consent
  • Option of regular text message mini-statements direct to mobile phone
  • Fully integrated with the first direct 1st Account
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