Balance Transfer Fees May Be on Their Way Down

Balance transfer fees could be on the way down according to financial website MoneyExpert. They predicted that the change on the horizon, due to the saturation current balance transfer offers on credit card market.

more than a year and a half ago the company introduced a credit card transfer fee credit card in an attempt to slow down or stop the people who where moving their debt from one card to another, chasing 0% balance transfer period.

Since the introduction of these fees, which started at about 2.5% of the balance transfer, 0% terms apply to the supply actually increased. So, what initially started off as a bad news for credit card consumers slowly evolved into becoming a good news.

Since the introduction of these fees, which started at about 2.5% of the balance transfer, 0% terms apply to the supply actually increased. So, what initially started off as a bad news for credit card consumers slowly evolved into becoming a good news.

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To illustrate this point, before introducing the average balance transfer fee 0% balance transfer lasted 12 months. 3% since the introduction of fees through aggressive competition among providers of credit cards, it is increased up to 16 months, is now offering Barclaycard and Virgin credit card. These significant increases effectively compensate for the consumer to pay a 3% fee which is great news.

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