Saga credit card could benefit consumers
Whilst the credit card industry, like other financial sectors, has been hit by the global credit crunch in a number of ways, causing problems for both providers and consumers, a number of card providers have recently launched new credit cards that are designed to not only entice new customers but also benefit them. The Halifax recently launched the All in One card, which offers ten months interest free credit on balance transfers and new purchases, and Abbey recently launched the Zero card, which offer six months interest free credit on balance transfers and purchases, no balance transfer fee, no cash advance fees, and no foreign exchange fees.
Another credit card has recently been launched by Saga, which has released a new card that could help many customers to avoid costly interest charges. This is because the card has a fairer repayment order in place, where repayments are applied to the most expensive debt first and then to the cheaper or interest free debt. With most other cards it works the other way around, where repayments are applied to the cheaper or interest free debt whilst expensive debt is left to fester and continue accruing interest.
One official from Saga stated: "This is another product from Saga which puts the customer’s needs first. Not only does it offer 0% Foreign Currency charges when using the card within Visa Europe, but also offers a fair order of payments, and 0% Balance Transfers and Purchases for the first 6 months." The card also offers a range of other benefits such as no foreign currency charges for transactions in Visa Europe. Included in this are European destinations as well as some non-European destinations.