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Credit card crunch

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CREDIT card borrowers looking to shift their debts to an interest-free deal have a record low number of choices available. Lenders offering an introductory zero per cent interest period fell this month to 87, down from 101 in June, according to Moneyfacts. This is the lowest number since the website started tracking the data in 2006.

The average length of initial interest-free periods has also fallen. They now average 581 days, down from 632 days in January. Meanwhile the cost of making a balance transfer has risen, with the average one-off fee hitting 2.2 per cent this month.

‘If lenders continue to tighten their interest-free offers, the cost of persistent debt will only escalate further and could result in customers paying out more in balance transfer fees, time and time again.’ Metro

As long as the music is playing, you’ve got to get up and dance. We’re still dancing, but when the music stops ....

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11 minutes ago, thewig said:


Can be.... sometimes...... especially if I sign a document (promissory note?) promising to return stuff I never had...... which is the fundamental reason for what this site's about....... but seldom discussed.

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  • 261 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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