HSBC 0 per cent credit cards assessed

Thu, 10 May 2007

The new credit card offering from HSBC has been given a mixed review by a financing expert, credit card holders may be interested to learn.

Earlier this week, the financial services provider announced plans to launch two new 0% credit cards with lending rates of 15.9 per cent - one for online banking applicants and one for telephone and branch users.

With regards to the latter credit card, Rob Kenley, head of credit cards at financing website moneysupermarket.com, said that it now topped the table in terms of introductory deals and should be "commended".

However, Mr Kenley questioned the decision to offer separate 0% credit cards to its customers.

"I am disappointed this deal is restricted to branch and phone customers," he said.

"The divide between online and online and phone doesn't make senses. Customers should have access to the deals through all means."

At present, HSBC is the largest banking institution in the UK.

It constitutes one quarter of the big four banking corporations - a group that also includes Lloyds TSB, Royal Bank of Scotland / NatWest and Barclays .

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