HSBC has extended its zero per cent offer on new purchases and balance transfers for an extra nine months, in time for the Christmas period.
The bank said that the offer could save cardholders as much as £300. The card also offers price promise insurance to borrowers who find that products they bought were available cheaper elsewhere.
HSBC will also treat cash withdrawals in the same way as purchases, and will not charge interest on them as long as repayments are met. Repayments will also be applied to the most expensive debt first, allowing card holders to service their card more quickly.
Roger Lovering of HSBC said that the changes were evidence of the company’s responsibility: “Building on the initiative we announced earlier this year to share full credit data for five million HSBC customers, we can guard against lending to those who cannot afford to repay their borrowings.
“Next we can make sure, through our price promise insurance”, he added. “And finally, we can ensure that we don’t add to the debt burden by offering a ‘no strings’ deal for a full nine months.”
HSBC says that the card has an APR of 13.9 per cent.
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