The new credit card offers zero per cent interest on balance transfers and could save shoppers up to £300 on interest payments, says the bank.

“At HSBC we want to help cardholders plan how they are going to repay their debt once the festivities are over,” said HSBC’s head of cards Roger Lovering.

“For this reason – in addition to offering zero percent interest on balance transfers and purchases – HSBC’s credit card does not charge for balance transfers, continues to extend the interest free period to include cash advances and allocates payments to the most expensive debt first.”

HSBC is also giving customers a Christmas price promise, ensuring they do not pay over the odds for Christmas gifts.

Under the Christmas price pledge HSBC will refund the difference on a range of products if they find the same branded item £10 cheaper elsewhere within 60 days of purchase.

A recent survey by Nationwide found half of UK consumers expect to have repaid their debt a month after the festive period ends.

To read more about Credit Cards, click here.

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