moneysupermarket.com: Yorkshire and Clydesdale Banks move to waive the credit card balance transfer fee

Commenting on the move by Yorkshire and Clydesdale Banks to waive the credit card balance transfer fee, Rob Kenley, head of credit cars at moneysupermarket.com, said: “This is the first move of its kind, and may spur a tactical rate war amongst providers.

“Yorkshire and Clydesdale Banks have temporarily bucked the current trend of levying a blanket balance transfer fee on their credit cards. The move, set to last until the end of February, will allow new customers to take out either bank’s Gold MasterCard without having to pay the balance transfer fee.

“This is great news for consumers as not only is this an attractive deal for many people who have been left in the red after overspending at Christmas, but if other providers do follow suit it could prove beneficial for credit card users in the long run.”