Will 0% deals be around in a years time..?

ferry

I've just BT'd to a 0% deal,but just thinking ahead whats the general feeling about deals that will around in say a years time?

I hear that lenders are starting to pull the best deals and certainly the 0%.

Will these become a thing of the past.??

T

Milarky

'0%' (either on balance transfers or purchases) is a key marketing element of nearly all cards - a way to get customers on board. For this reason, I don't see 0% going - although the periods offered may flux a bit.

Fees have grown and spread out (i.e. you can still get fee-free transfers for normal interest rates on many cards - but they could end up on all accounts for all transfers).

The whole 0% phenomenon is just marketing really - subsidised by more and more increases on standard interest rates - and there is a persistent rump of borrowers who have always and probably always will pay these rates . The fact that sites like this have not generated a sufficient consumer movement (some, but not sufficient) to affect bank profits significantly will allow this 'game' to continue. Anyone who is sensible and reasonably organised with finances should be able carry on.

[Deleted User]

There will be still cheap deals but i doubt well see any totally free ones any more. You certainly wont be cutting much more then a 3% profit stoozing.

ferry

In view of the market condtions now or what they shortly will be is it advisable to consider a LOB card if not paying the balance off in full each month?

Also,is M&S still the best LOB card out there at the moment?

T.

swayze

ferry wrote: »

In view of the market condtions now or what they shortly will be is it advisable to consider a LOB card if not paying the balance off in full each month?

Also,is M&S still the best LOB card out there at the moment?

T.

Yes it still is even though its gone to 4.9%.
The next best one is Sainsburys which is around 5.94% with no fee.
I can imagine the life balance transfers not being offered at some point.
Also the no fee will probably disappear.
As for 0% I can't see that going. But overall rates will continue to increase once the 0% ends.

JoseChungsDoomsday

I hope not. The UK is in desperate need of more reward cards, in america it's a given that a credit card will get you some kind of pointsbut in the UK we are expected to be greatful for the chance.

Mozette

Borrow money at 0%, earn interest at oh, dunno, 8%. what more reward do you want?

[Deleted User]

how do you get 8% on my icesave i make about 4.7-4.8 after tax.

I have a 8% reg saver but thats 6.4% and then the moneys not all in there.

My ISAs get used up anyway, ones unpredicatable so who knows what ists average will be.

JoseChungsDoomsday

Mozette wrote: »

Borrow money at 0%, earn interest at oh, dunno, 8%. what more reward do you want?

Simple, I want the companies to try and keep me after the 0% is up. I've no need for 0% deals so if they want my business then they will have to give me a reward.