Christmas Credit Card Deal from HSBC

HSBC have pulled out all the stops after launching their new credit card offer for Christmas. With so much spending over the festive season we have to look around for the best UK credit cards that will benefit us. So what is the offer and how does it benefit the consumer?

HSBC are offering a 0% deal on balance transfers as well as 0% interest on purchases for nine months. The interest free period is not only appointed to your balance transfer and purchases but also includes any cash advances. HSBC is the only credit card issuer to offer an interest free period on cash advances of up to 56 days. In addition to the 0% deals HSBC are also offering insurance for price protection. The price protection insurance that HSBC is offering is if you find the same branded product for more than ten pounds cheaper within 60 days you will be refunded the difference, obviously you would have had to use your HSBC credit card to purchase the item or product in the first place.

What is more encouraging about HSBC’s credit card is that payments to your credit card are prioritized to pay off your most expensive debt first, a practice that is not used by all credit card lenders. Paying off the most expensive debt first reduces the amount of time a cardholder is in debt.

The combination of these offers is encouraging to the consumer for not only keeping their Christmas spending down but also reducing the amount of time it takes to pay off their debt. It is expected that thousands of households will get into debt for Christmas with many still paying for the cost of Christmas well into the year. HSBC,s credit card may offer cardholders a chance to pay off their debt without the added cost of interest.

The period in the run up to Christmas and thereafter can put a huge strain on finances with many people unable to cope with repayments. HSBC has assured that anyone who could not afford to make repayments on their credit card will not be able to borrow from them. Using their data-sharing scheme they will be able to continue their trend of responsible lending, making sure that people are not getting themselves into unmanageable debt.

HSBC is well renowned all over the world for its first class services; they are one of the largest financial services organizations operating in 77 different countries. Their services not only include credit cards but a vast range of other financial products including loans, insurance, online banking, savings, mortgages and investment accounts to name but a few.