• From The Debt Advice Bureau:

    Zero Rate Balance Transfers: R.I.P.

    It could be the end of 0% balance transfer deals on credit cards as

    card issuers are forced to introduce charges in order to stem the

    losses caused by “rate tarts” who continually switch from

    one zero rate deal to another.

    Last week Mint, owned by Royal Bank of Scotland, joined the ranks of

    providers such as MBNA

    and Barclaycard when it became the latest card issuer to impose a

    one-off fee on balance transfers form other credit cards onto their

    0% deals.

    Until the summer last year transferring balances to a 0% or low rate

    credit card was free. Last August that all changed as Barclaycard

    heralded the impending demise of free balance transfers when it

    became the first card issuer to introduce fees for transfers,

    charging 2%, up to a maximum of £35, of the total amount…

    Click to read the full article »

    Posted by Jon @ 2:25 pm

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