Is this the best stable relationship credit card (5.9% APR)?

icebergx

I think it's a bit unfair to call it 'uncompetative'. There are a hell of a lot of other cards out there that charge extortionate amounts :eek:
And 56 days interest free period is the maximum amount, it really depends at what point in any given month you make any given purchase.
Taking a midway point of 28 days interest free for a given purchase (a little crude I know) I think they work out about the same.

A bonus is that you also don't have much of a dicrepency between the BT rate and the APR, so you haven't got the issue of 'not spending' on a BT card because of the bias of payments towards lower rate debt first.

Obvously an 0% introductory rate for purchases would be great but I think overall, it's still worth considering.

MSE_Martin

Hi folks

If you look in the extended version of the best card for purchases box you'll see the following "advanced moneysavers note"



Advanced Moneysavers Note: Why Halifax’s cheap rate isn’t a cheap rate

Why halifax's cheap rate isn't a cheap rate

Eagle-eyed MoneySavers may have noted that there is a cheaper stable rate card on the market from Halfiax. Its Flat Rate card charges 5.9% which beats the above two.

Yet I disqualified it because it charges interest even if you pay the balance off in full each month (technically described as a no 'interest free period' on purchases). This snatches much of the benefit derived from the one percentage point lower rate, because try and clear the balance and you’ll still pay interest.

Is it ever worthwhile? If you are going to be continually in debt from spending, then it may just be cheaper. Yet this is a bad scenario and if that is your plan, the best answer is to simply not borrow the money in the first place.

M_Thomson

Also, to add, it isn't 5.9% fixed for the life of the balance it is 5.9 variable for the life of balance. Amex Platinum is better at 4.9 fixed for the life of the balance transferred.