Balance Transfers News
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News : Topics : Balance Transfers Balance transfer offers have been a very popular feature of credit cards since they first came to the UK via Egg in 2000. Offering either a low rate fixed for the life of the balance, or the more popular 0% introductory deal, they have been a huge selling point for many cards. Such was their success, and the emergence of the so-called rate tart who constantly switched balances around without paying interest charges, that credit card companies began to lose huge sums on the deals. To counteract this, the balance transfer handling fee was introduced, again first by Egg, and is becoming widely adopted. News Stories on Balance Transfers:
Balance Transfers Dwindle in Popularity - Survey shows that rewards and cashback now more popular among credit card users (07/09/2006) Return of the Annual Fee? - Warning that credit card companies may re-introduce the annual fee (14/11/2005) Egg Profits Boosted by Balance Transfers - Egg plc reports strong credit card performance (27/07/2005) Egg Introduces Balance Transfer Fee - Transferring a balance to your Egg Card will cost a 2% fee (03/05/2005) Rise of the Flat Rate Card - Research shows cards offering a simple flat interest rate are growing in popularity (12/04/2005) Co-op : Fixation on Rate Tarts - Co-op Bank says millions are spent promoting intro deals to a minority of 'rate tarts' (04/04/2005) 1 in 3 Fail to Clear Balance Transfers - A report from Capital One shows that 1 in 3 people fail to clear their balances within the teaser rate period (05/01/2005) 0% Balance Transfer Offers To End? - Huge cost of balance transfer deals to credit card companies means they may end (02/11/2004) 5 Million Use Balance Transfer Option - Research by Capital One estimates that 5 million people have used balance transfer deals to save money on their credit card debt (10/05/2004) Barclaycard to Drop 0% 'For Life' Offer - The much-criticised Barclaycard offer will be withdrawn (04/05/2004) |
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