The number of credit cards which do not charge for transferring balances from one account to another are on the brink of extinction, according to one expert.
Writing for the Daily Mail, James Coney said that the Gold Mastercard by Natwest and Royal Bank of Scotland is one of the last fee-free credit cards available on the market, as rival products have disappeared.
The credit cards became popular after zero per cent balance transfer product's charges for the process became more expensive than paying a small amount of interest with no fee, but Barclaycard and Citibank have both withdrawn similar plastic offerings recently.
Mr Coney advised: "There is an alternative: Egg Money Mastercard. This… charges 8.9 per cent for life, but you pay a fee of £1 a month."
Money tips website FinancialAdvice.co.uk recently said that despite the negative effects of the recession on the credit card market, the new zero per cent announcement by Virgin has stirred competition.
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