HBOS cuts back credit card offer by Finance News Bulletin

Published: 18/01/07

Halifax is to slash the zero per cent offer on its 'One' credit card in the latest example of a company clawing back an preliminary offerOnce one of the most competitive cards on the market, Halifax is now to cut its nothing interest rate offer for new purchases from 12 to three months The rate emotional to purchases has also been raised from 129 per cent APR to 15

9 per cent APRThe changes are further proof that card companies are struggling to create money from new customers, who are taking benefit of the many zero per cent deals availableA spokesman for HBOS told the self-governing: "We've always said we'll price according to marketplace conditions, and obviously there's been a lot of changes in the marketplace We're still one of the most spirited cards in the market

"The news follows a report from PricewaterhouseCoopers that supposed it expected many card companies to reintroduce yearly fees to shore up losses from competitive dealsMoneyExpert Limited is authorised and keeping pace by the Financial Services Authority (FSA Registration No 301654) The Financial military Authority does not regulate some forms of mortgage contract, credit cards, individual loans,

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