There is still a competitive credit card balance transfer market, new research shows.
A study by financial website Fool.co.uk, reveals that there are currently more than 90 credit cards offering zero per cent deals for people switching funds to them.
David Kuo, head of personal finance for the firm, said: "Interest-free balance transfer cards are an oasis of relief for consumers parched by the burdens debt ."
However, people should make sure that they have a plan in place to repay their outstanding balance before the end of the introductory offer otherwise they could still find themselves out of pocket, he added.
People should also take into account the fact that they might be charged a balance transfer fee, which could make things more expensive, Mr Kuo stated.
Last week, Steve Willey, head of credit cards at Moneysupermarket.com, described the amount of debt that people have built up on plastic as "disturbing".
News Side
Credit card balance transfer deals still on offer, research shows
Mon, 21 Jul 2008
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