People who hop from credit card to credit card may find it more difficult from now on, says one group of experts.
Moneyfacts.co.uk warns consumers that while there are plenty of balance transfer deals to be found, getting one might not be as simple as people think.
This is because many credit card providers do not allow you to transfer money between their products.
Lisa Tayler, analyst at Moneyfacts.co.uk, said: "75 per cent of the balance transfer deals available today are offered by just five credit card providers . So in reality, while 45 card brands offer balance transfer deals, when shopping for a new deal your choice is more than halved, limited to only 17 providers."
She added that the majority of deals were only on offer to new customers, something else that could limit the deals available.
In December of last year Moneyfacts.co.uk warned that credit card rates would continue to rise in 2008.
It added that balance transfer fees were likely to rise.
News Side
Credit card transfers 'may be tricky'
Wed, 09 Jan 2008
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