Balance Transfer
Brits use credit cards to fund day to day living
362 days in recession have left millions of people starting the new year reliant on credit for day-to-day living costs, according to the third annual Post Office Consumer Credit Report.
Santander launches no balance transfer fee offer
Santander has announced the latest initiative to reward existing customers, following the launch of the Zero Current Account and the announcement that adult bank account customers will now benefit from fee free cash withdrawals from all of Santander's 4,300 ATMs in Spain.
Moneysupermarket top tips on credit card debt
For the nine million Brits who have put Christmas on their credit card, now is the time to focus on clearing those debts in the smartest way possible. For many this will mean careful budgeting throughout the year in order to pay off the debt quickly.
4.5 million Brits to transfer credit card balance
More than 4.5 million Britons (10 per cent) are planning to move in excess of £3.2 billion pounds between credit cards in the first three months of 2010, to take advantage of introductory balance transfer periods, new research from Santander Cards has revealed.
Virgin 0% balance transfer card with no transfer fee
Virgin Money has launched a new credit card with a nine month 0 per cent introductory rate for balance transfers and no balance transfer fee. The card is available exclusively from moneysupermarket.com for a limited period only.
Barclaycard reduces balance transfer fee
Barclaycard has today, 13th May, announced that it is reducing the balance transfer fee on its 0% for 12 months Barclaycard Platinum balance transfer deal with immediate effect. The fee has been reduced to 2.5% of the amount transferred from the previous 3%.
Brits get ready to shift the pounds in New Year credit card transfer
More than 3 million Britons (7 per cent) are expected to shift over £7 billion pounds between credit cards in the first three months of 2009, as they take advantage of introductory balance transfer periods, new research from Abbey Credit Cards has revealed.
Balance transfer merry-go-round is grinding to a halt
Borrowers planning to transfer credit card debts are facing a clampdown by card firms as the number and length of deals are cut, according to new analysis from MoneyExpert.com.
Abbey Zero card has no balance transfer fee
Around one in four credit card holders (22 per cent) will take advantage of a zero per cent credit card over the next 12 months according to research from Abbey Credit Cards.
MoneyExpert: Barclaycard OnePulse balance transfer rates
Sean Gardner, MoneyExpert.com, said: "Barclaycard has marked out a new battleground for competition in the credit card market, choosing to lower their balance transfer fee to 2.5% rather than simply trumping the length of 0% deal available.
11% increase in longest debt transfer deals
Michelle Slade, analyst at Moneyfacts.co.uk, comments: "In order to get by many people are resorting to using their credit card. As balances increase, many may be looking for a balance transfer deal.
The "Munificent Seven"
It is hard to believe that banks are giving away money during a credit crunch. But they are, in the competitive balance-transfer market.
Balance transfer market shows new signs of life
The credit crunch may have squeezed the life out of the mortgage and personal loan market, but the 0 per cent balance transfer credit card market is surging ahead with even better deals for the consumer.
0% balance transfer still most popular credit card feature
Despite several new and stylish features offered by credit card providers to tempt consumers, the most popular is still 0% interest on balance transfers, according to Fairinvestment.co.uk.
£1.1bn transferred between credit cards every month
Sainsbury's Finance estimates that some 716,600 people will try and transfer around £1.1 billion a month between credit cards, but it warns that of the 80 or so cards providing 0% APR on balance transfers, around a third offer a period of just six months or less.