Targetting Tarts??

drpachu

Read somewhere that banks are planning to stop 0% deals and focus more on rewarding loyalty to prevent credit card shufflingis it true?

Martinslovechild

I assume that it's this article that you're referring to, which is "A study from financial research company Defaqto" which "suggests that card providers will increasingly turn their attention to keeping existing customers rather than acquiring new ones, thus reducing the opportunities for 'rate tarts' - consumers who flit between 0% or low interest deals."

In other words, it's a prediction. Although there's no smoke without fire - 2% fees are creeping in after all. Is it the end? I personally don't think so but it may be the end of 9 and 12 month 0% deals - I still think that fee-free 6 month 0% deals will be around for quite a while yet.

smartsaver

Read somewhere that banks are planning to stop 0% deals and focus more on rewarding loyalty to prevent credit card shufflingis it true?

Maybe a way to reward loyalty would be to give existing customers 0% deals 8) ::) ;D

InsuranceLiability

The success or not of Eggs 'Anniversary offer' will be investigated very closely by rival companies. I expect to see reward schemes of some kind coming in very soon but probably aimed at customers with 2 or 3 years custom behind them

Gambler

Egg rewarded loyal customers by stripping the cash back rate from 1% to 0.25%. That's why I stopped using their card.

Derek_Duval

Egg rewarded loyal customers by stripping the cash back rate from 1% to 0.25%. That's why I stopped using their card.

They stripped it down from 1% to 0.1%, & they started 0%. This annoyed me, & I wanted revange, that's how I came across stoozing.