Credit Cards

Tips, news, reviews, caveats, trends, updates and analysis related to consumer and business credit cards, and prepaid debit cards. From the interest rate specialists @ FedPrimeRate.com

Saturday, December 03, 2005

One of The Most Attractive 0% Balance Transfer Deals Has Disappeared From The UK Market

Sorry to report the bad news; UK balance transfer surfers aren't going to be happy about this one: American-owned Capital One has reduced the interest free period associated with the balance transfer offer on their Platinum credit card to 6 months. The balance transfer-related interest free period on a Capital One Platinum credit card was one of the best in the UK market, offering 0% on balance transfers until 2007.

Don't shoot the messenger!

The American market is still looking pretty good from a 0% balance transfer point of view, with many credit card companies and banks still offering up to 12 months interest free on balance transfers. Discover is still offering a zero percent interest rate on balance transfers that lasts until January 2007.

The American economy continues to heat up (according to the latest US Department of Labor report, 215,000 new jobs were added in November of 2005) and credit card companies got their way with the recent bankruptcy bill, so American banks and credit card companies really have no reason to cut back on their interest free balance transfer offers. In fact, I'm hoping that one of the major credit card labels will offer a 24 month interest free period on a balance transfer deal sometime in early 2006. Keep your fingers crossed. Stay tuned!


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