Over 110 UK credit cards independently reviewed by Fiscus Credit Cards
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Transfer Offer Card from Abbey
This card was last reviewed on Wednesday, 15 March 2006.
| Overall Rating: |
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| Issued By: |
Abbey |
| Card: |
Transfer Offer Card |
| Network: |
Visa or MasterCard |
| Category: |
Mid Interest |
| Acceptance: |
 |
| Insurance: |
Purchase, Travel Accident |
| Service: |
24 Hour Telephone Line, Online Account Management |
| Comments: |
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| Pitch: |
"Move you money… and get that 0% feeling." |
| Typical APR: |
15.9% |
| Interest Free Days: |
59 |
| Minimum Repayment: |
- |
| Annual Fee: |
No annual fee. |
| APR: |
0% interest |
| Period: |
9 Months |
| Charges: |
2% handling fee (min. £3.00, max. £50) on: credit card cheques and balance transfers. |
| APR: |
- |
| Period: |
- |
| Type: |
No rewards scheme. |
| Description: |
- |
| Reward Rate: |
- |
| Period: |
- |
| Aimed At: |
Clearly meant to be aimed at individuals with an average credit history looking for a low APR card. In reality, expensive unless you clear your balance in full each month.
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| Updated Review: |
Update 07-01-06
Abbey have improved the card a little but still only enough to give it 1 ½ stars instead of 1.
Abbey will offer you an interest rate of 0% p.a. interest on balance transfers for the first 9 months from the date your account is opened. |
| Review: |
Abbey "Transfer Offer" Credit Card There's a lot of competition in the credit card industry, and as we all know, competition is great for consumers. Unfortunately, competition isn't good for Abbey National. The Abbey has already had a bad year, unable to match the bumper proftitablity of HSBC, RBS / Natwest and HBOS, and with these kinds of products it is easy to see why. The company rebranded from Abbey National to plain old Abbey earlier this year, when arguably they should have saved the money involved in doing this and spent it on offering decent interest rates instead. Like its partner card, the Abbey "Shopping Offer" credit card, this is a particularly weak offering, which gives you 0% APR on balance transfers for 9 months followed by a standard APR of 15.9%. The credit card does not include an introductory offer on purchases, this being the job of the Shopping Offer card. This really isn't anywhere near the realm of being considered a competitive card; there are numerous credit cards on the market that offer much better value. If you are looking for a decent balance transfer offer, then pick up the 0% balance transfers until February 2005 that comes with the Barclaycard Classic, which also offers 0% on purchases for the same period, an extended warranty deal and bumper points collection on the Nectar rewards scheme with a lower standard interest rate of 14.9% - talk about getting beat 'hands down'. If this isn't going to be good enough to manage your longer term debt, then the Capital One Platinum offers a fixed low balance transfer rate of just 3.9% for the life of the balance and includes a 6 month 0% offer on purchases. There are numerous other credit cards to choose from that provide balance transfers at lower rates, such as Morgan Stanley's Gold card, and even several casback cards that can better this 'no-frills' product. In a nutshell, steer clear.
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| Verdict: |
In a nutshell, steer clear.
If you decide to apply for this credit card, we can only assume that either you're mad or you work for the Abbey. In fact, if you do decide to get this card, email us and tell us why you've chosen it. Personally, we'd look |
| Overall Rating: |
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