CREDIT CARD PAIN THAT CAN FOLLOW LIFE AFTER ZEROWednesday June 11,2008 Holly ThomasCREDIT card companies are increasing rates when interest-free balance transfer deals have expired, according to MoneyExpert.com. The financial comparison website says the average standard APR (annual percentage rate) on balance transfers has increased from 15.35 per cent in January to 16.1 per cent now.
Sean Gardner, director of MoneyExpert.com, said: “Credit card companies continue to offer good, lengthy zero per cent deals on balance transfers, and customers should continue to take advantage of them.” But he says, customers should check the go-to rate, particularly as people may not be able to clear their balance in full once their deal expires. He says: “As money is tight, paying off the credit card is more difficult and that means you’ll have to rely on the standard APR of your card provider, or switch again.” According to MoneyExpert.com there are 180 interest-free introductory balance transfer credit card deals on the market. *** BACK TO YOUR MONEY FOR MORE TOP STORIES! *** |
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| Monday 1st December 2008 |  |
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