The end of 0% cards???

nessauk · 12 April 2005 at 3:29PM

I've been hearing on the radio all morning that it could soon be the death of the 0% credit card, and being able to BT to another card once the anniversary date is up. Its costing the banks/card companies millions (apparently in administration costs was one excuse I heard on radio 1). The next step is charging for the balance transfer which a lot of cards are starting to suddenly do. I also found an article that said" The research also found a growing demand from borrowers -- 61 percent against 35 percent last year -- would prefer lower long-term rates rather than short-term zero rates."

Is that true? If so, for the long term (which I am assuming is the BT with the low interest for life) which would be the best card going?

http://uk.news.yahoo.com/050412/325/fg5en.html

http://news.bbc.co.uk/1/hi/business/4435283.stm

Queenie · 12 April 2005 at 3:46PM

I heard a whisper about that

Is that the end to stoozing??

Galstonian · 12 April 2005 at 3:46PM

Its being discussed in another thread already:

http://forums.moneysavingexpert.com/showthread.html?t=43771

Reaper · 12 April 2005 at 9:22PM

If I got £1 every time somebody announced the death of stoozing I wouldn't need to stooze in the first place!

Someday it may end, but I'll believe it when I see it and not worry about it until then.

smartsaver · 12 April 2005 at 9:48PM

Totally agree with Reaper, the Fat Lady has not sung, yet

johannamse · 12 April 2005 at 10:28PM

Can you do me a favour...and ring up the fat lady and tell her not to start singing for another 15-18 months, by which time I will be debt free. Ta.

The end of 0% cards???

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