A new study has revealed that consumers tend to only get the best credit card deals when they switch providers.
Research conducted by Defaqto found that the average length of an introductory zero per cent offer is 9.5 months for balance transfers.
This compared with "anniversary" offers of five to six months on balance transfers for existing customers.
David Black, principal consultant of banking at Defaqto and author of the report, said that there is a "clear incentive" for people to switch credit card providers .
"The credit card industry is geared to routinely rewarding customer disloyalty for the creditworthy and there seems to be little evidence of this changing," he remarked.
In related news, Moneyfacts.co.uk recently reported that there have been 125 fee and rate increases within the credit card market during the last two months.
The firm noted that among the changes were increases in cash withdrawal fees for 69 credit cards.
News Side
Credit card providers offer best deals to new customers
Tue, 13 Nov 2007
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