Credit card users 'may find it difficult to swap'

By Sarah Engle, Tue 26 Aug 2008 - Published in Credit Cards

People with credit cards whose zero per cent balance transfer deals are close to expiring could find they have to settle up or face rising repayments, according to MoneyExpert.

The group claims five million credit card users switched provider between April and October last year, meaning millions of zero per cent deals are now on the verge of expiring.

As providers tighten their lending criteria, borrowers are being warned that they may not find it so easy to carry on swapping credit cards for continuous interest-free credit.

Sean Gardner from MoneyExpert said: "Switching credit cards used to be commonplace and being a rate tart was seen as a sign of being savvy with your cash."

However, he warned getting a credit card is now "much more difficult".

In other news, CPP has warned British holidaymakers they need to take better care of their debit cards and credit cards while abroad if they do not want to become victims of fraud.

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