Fewer Fee Free Credit Cards
It appears that the ever more competitive credit card market is beginning to tighten it’s belt in the UK.
According to recent research from cardguide.co.uk the number of cards now offering fee free balance transfers with 0% interest free periods is in significant decline.
The mechanism of zero fees on balance transfers has long been used to massage the cost of repaying balances without incurring large amounts of interest.
The problem appears to be that credit card companies are not making enough money and this is therefore resulting in a rethink on fees.
Of the many zero per cent balance transfer credit cards still available on the market, most charge borrowers a fee for transferring other credit card balances onto the card.
Steve Brown, BalanceTransfer.cc and BusinessCreditCards.cc owner, said: “Zero per cent intro APR balance transfer credit cards that don’t charge a fee for transferring balances have been the most popular products recommended at the BalanceTransfer.cc site for many months now.”
(Via Fair Investment)
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