Reduced fees with new credit card from Abbey

Whilst many lenders are cutting back on the number of type of financial products that they offer in light of the global credit crunch, the Abbey has recently announced the launch of a new card that will enable consumers to enjoy lower and fewer fees. The new credit card launched by the bank is known as the Zero Card.

With the credit card consumers will be able to enjoy six months worth of interest free credit on both balance transfers and new purchases.

There will be no balance transfer fee charged with this deal, and for the first six months there will be no cash advance fee charged either.

The card is likely to prove of interest to those heading on holiday, as it will not charge any foreign exchange fees.

An official from the Abbey described the card as innovative, stating: “We promised the market that we would continue to innovate and that is exactly what we’ve done.”

Another industry official said: “The launch of this card is fantastic news for consumers. Not only will those looking for a short-term balance transfer deal benefit but also those who are about to embark on their summer holiday. In a world where rates and charges are increasing on credit cards its good to see a lender bucking the trend and removing some of these charges.”