The low-fee balance transfer credit card, powered by MBNA, offers new customers 15 months at 0 per cent interest on balance transfers. Balance transfers must be made within the first 60 days of opening the account and a 1.5 per cent handling fee applies.
The credit card also allows new customers to move credit into their current account. Fluid charges a 4 per cent fee for this money transfer and offers 15 months at 0 per cent interest but after that, charges will apply.
New customers can also benefit from 0 per cent interest on purchases for five months from the date the account is opened.
Will Becker, chief executive of Media Ingenuity, Fluid’s corporate parent, said: "We have listened to what customers want within the UK market. In conjunction with MBNA, we've created a card with an exclusive offer that can yield a substantial saving to consumers. This is a great card for people who are looking to get control of their finances and repay existing balances within the 15-month offer period."
With the average authorised overdraft rate currently at 12.659% APR, Nerys Lewis, head of credit cards at Confused.com, believes the Fluid credit card's money transfer option could help people who need to pay off their overdraft.
Lewis says: "This credit card could be a good option for anyone who is paying interest charges on their current overdraft facility, as long as they can pay back their debt within the 15-month period.
"Many university graduates of the last few years could be starting to pay interest on their graduate overdraft accounts, for example, so the Fluid credit card may be a useful option for those who can afford to pay off this debt before the interest-free period is over.
"Meanwhile, the comparatively low balance transfer fee of 1.5 per cent makes the Fluid credit card a strong offering to anyone who is looking to transfer their existing credit card balance, providing they keep on top of payments.
"If you use a balance transfer credit card carefully, it can be a sensible way to manage your finances."
Customers can apply for the Fluid credit card at www.confused.com/
Confused.com is one of the UK's biggest and most popular price comparison services. Launched in 2002, it generates over one million quotes per month. It has expanded its range of comparison products over the last couple of years to include more specialised insurances such as young persons car insurance (http://www.confused.com/
Confused.com is not a supplier, insurance company or broker. It provides a free, objective and unbiased comparison service. By using cutting-edge technology, it has developed a series of intelligent web-based solutions that evaluate a number of risk factors to help customers with their decision-making, subsequently finding them great deals on a wide-range of insurance products, financial services, utilities and more. Confused.com’
Confused.com is owned by the Admiral Group plc. Admiral listed on the London Stock Exchange in September 2004. Confused.com is regulated by the FSA.
Confused.com press office