Benefits of the Abbey Credit Card

With the summer holiday coming up fast, many people in this year of economic turbulence are turning to their credit cards to help pay for the events that they are used to enjoying when school is out and it is time for a little fun. Unfortunately, many credit card companies are clamping down in this time, making it more difficult to use credit cards without having to pay high fees and interest rates, which seems to penalize users of these cards more than ever.

Abbey, on the other hand, has recently taken the opposite road and instead of raising interest rates and fees, they are instead introducing the Abbey Zero credit card which may be used in many circumstances with zero fees and zero interest - a definite departure from conventional lending wisdom.

Zero Fees and Zero Hassle

Now, as the only credit card in the U.K. that has zero fees for usage, the Abbey Zero card presents an opportunity for holiday-goers and stay-at-homes alike to improve their credit situation and not have to pay a large expense to do it. The new Abbey Zero credit card offers the following benefits to its users:

• 0% foreign exchange fee: Especially useful for those who are going on holiday, this feature of the Abbey Zero credit card means that you can travel outside the U.K. to other parts of Europe and not pay for the conversion to Euro or even all the way to America and not pay a fee for having your money converted to the Dollar.
• 0% cash advance fee: No fee for cash advances means that if you find yourself needing to withdraw cash to pay for a tip for your room services or at a restaurant, you don’t have to worry about paying a large fee to the credit card company.
• 0% for 3 months on purchases from date of account opening: Used properly, this feature means that you can open the card right before you go on holiday and pay zero interest on all of your charges as long as you pay them off before the end of the three month grace period.
• 0% for 12 months on balance transfers from date of account opening: With a few minor rules and restrictions, this feature means that once you open your card, you can get a year interest free on charges made to your other credit cards by transferring your balances over to your new Abbey credit cards. A year of savings on interest can easily mean hundreds of dollars in savings on average credit card balances in the U.K.

In a time of global financial crisis, fewer people are expected to take their summer holiday either in or outside of the U.K., but even so, proper use of the Abbey card can save a consumer plenty of money in interest payments and fees, as well as offer a low-cost opportunity to consolidate credit card debt.