Credit cards offer more 0% deals
There are now 54 credit cards with an interest free balance transfer term of at least a year, Moneynet.co.uk figures show.
The average term of a 0 per cent balance transfer deal is now 12.16 months, up from 9.87 months this time last year.
Advertisement
Hide AdAdvertisement
Hide AdThe surge in balance transfer offers is due largely to new consumer credit rules under which lenders only have to offer their best deals to 51 per cent of applicants, down from the previous threshold of 66 per cent of customers, enabling them to be more selective in the availability of their most competitive rates.