The Halifax has announced a new credit card called the All in One card, with an introductory offer to both new and existing Halifax customers of 11 months interest free balance transfers and card transactions.
Customers can get the bonus if they get the credit card before 21 September and put at least GBP1,000 per month into their Halifax current account. When the zero percent offer is finished the card will have a typical interest rate of 15.9 percent with no additional fees to pay.
A spokesman for the Halifax felt that customers taking up the offer could find themselves savings several hundred pounds in interest savings and therefore expected the credit card to be very popular.
The Summer months are expected to be a busy time for those with credit cards according to Sainsburys Bank, with consumers expected to hit the cards hard to cover their spending.
Estimates put total consumer spending at around GBP7.9 billion for the Summer months, a little lower than last year but still a lot of money bearing in mind the difficult economic conditions. Of this total spend Sainsburys Bank predict approximately 42 percent will be put onto a credit card.
There are benefits to be enjoyed through paying by credit card of course, including cash back offers, points that can be redeemed to collect rewards and 0 percent interest too. The key is to clear the balance before it becomes costly and this is what Sainsburys Bank hope consumers will do.
American Express has just announced quarterly profits significantly lower than originally expected, leading to a fall in the share price.
The company saw profits down by a massive 38 percent and, accompanied by a warning for the future that earnings per share would be on the decline, shares traded 11 percent lower. Even though American Express is more closely aligned to wealthier clients they have still seen defaults climb as the United States mortgage problems have hit people at all levels.
An American Express spokesman explained that the organisation, though performing very well relative to other players in the market, is behind where it expects itself to be and this is a situation that could continue for some time.
