What the experts think of the Zero card from Abbey

The Abbey has recently launched a new credit card that offers six months interest free credit on purchases and balance transfers, as well as no balance transfer fee, no cash advance fee for six months, and no foreign exchange fees. One industry official has commented on the card.

The official from MoneyExpert.com said: “With the credit card market so competitive these days, when a new product comes along you have to ask what makes it stand out. In this case the best that can be said is that this is the only card, which won’t penalise you for taking out cash abroad, so your best bet is to use it for summer spending. The interest free credit on purchases will also mean you can stave off the interest bills until Christmas if you splash out while on holiday.”

He added: “If you are looking for a fee-free card then Capital One and Norwich & Peterborough both match Abbey’s six months interest free on balance transfers with no charge. But with no fees on foreign exchange Abbey’s looks like the best option with summer approaching. Abbey’s Zero card isn’t a best buy on purchases or balance transfers. So if you’re one of many looking for a lengthy balance transfer or you’re about to make a big purchase then you’re probably best to steer clear, despite the lack of fees.”