Handy Card! (Abbey Zero Credit Card)

Member Name: bobinder

Product:	Abbey Zero Credit Card
Date:	03/09/09 (66 review reads)
Rating:

Advantages: Zero fees

Disadvantages: High interest, only 3 months free on purchases

I have had the Abbey Zero credit card for about 2 months now, and have found it to be an absolute necessity. With the massive selling point of having zero charges on transactions abroad, I have been able to save a relatively large amount, useful especially with pound at such lows.

How to Apply:

I found out about the card on a visit to my local branch, and the application process took about a half an hour. Most of this time was taken up by the banking advisor trying to sell me their payment care and insurances, but I found them to be very expensive, so would avoid the questions if you do ever go down!

From what I understand you can apply over the internet or on the phone, which may be a bit speedier.

I received the pin number within a week, and the card a few days later, which I found to be very efficient.

Benefits:

As I described earlier, the 0% foreign exchange fee is an absolute gem. On my recent visit to Dubai, I was able to take full advantage of this, taking very little cash from England, and simply using my card. On my next statement, I saw exactly what was advertised, there were no cash transaction fees, and just the direct conversion of Dubai Dirhams to British Pounds. Previously I have used my debit card or other credit cards and incurred a total fee of 4.5%, so saved a reasonable amount!

Another rather rare benefit I have found with the card, is the lack of the usual 3% fee on cash advance, incurred with normal credits cards, which has been quite convenient.

The 0% for 12 months on balance transfers is also not a bad addition, though I have not used it. Abbey does charge 3% of the balance for a transfer, which is worth keeping in mind

The Cons:

On opening a credit card, I have come to expect a lengthy period of 0% interest on purchases, I find the 3 months offered not to be very competitive, especially compared to the 9 months by the Halifax All in One.

As with all credit cards, if you do not pay of the full balance, you do risk pay a hefty interest, which can dampen all the previous benefits mentioned, and at currently 18.9% APR, this card is no exception.

The service:

Thus far I have had no problems with this card, receiving statements on a regular basis (even if the statements are slightly inconvenient, in many parts..).

Overall, in my opinion, if you can get this card, I believe it is a very handy addition!

Summary: Very convenient if you find yourself abroad!