If all card issuers are going to charge 2% on BT

mountainofdebt

what in everyone's opinion will deferentiate between the various cards on the market?

Will this mean that people close the accounts that they once had solely for the purpose of BT???

Rafter

It all depends on how much effort you are prepared to go for for a stooze profit.

A 2% fee on a BT for 6 months can still earn you a small profit, although significantly less than a full blown zero % deal.

There is a big psychological difference though since the bank will still be making some money out of the BT transaction, rather than just the loss it currently makes.

Given that moneysavers are prepared to go to the trouble of applying for a first direct bank account for a £25 sweetener, I'm sure they will continue to go for 0% deals with BT fees even if the £100s of stoozing profit available up to now will be significantly less.

I'm guessing that unless interest rates rise significantly, 0% offers will continue. The banks will probably get smarter at offering lower limits to customers with many cards who obviously switch from offer to offer. If you are a 'new stoozer' with only one or two cards on your credit file, the banks will still be after your business and I'm sure you will get good deals.

R.