NO More 0% Credit Card Deals According to Mint

A question about : NO More 0% Credit Card Deals According to Mint

Hi All,

I just been clearing up my finances and after speaking today MINT they advised that the credit card industry wont be doing any more 0% balances in January but just offering long term long low interest deals. Ok this may just be sales talk but it does seem strange all the really good credit deals seem to have dried up.

Sorry if this is old news

Best answers:

• It is the obvious thing for credit card companies to do.
  I have about Ј15000 at 0% at present.
  If I had to pay a tad more than about 4% interest on it I would give it back to the credit card companies tomorrow. !5% would certainly end my days as a stoozer.
  On second thoughts I would give it back when the 0% period ends.
• sorry i have put this on the wrong chat board - didnt see the credit card one - DOH - Thanks for the respones back
• It would make things better for all who borrow as the value of the debt erodes with time, if by some miracle you could stooze for 20 years, then a Ј20k debt in 20 years time would be worth Ј10,875 (3% RPI).
• I'm not convinved this is true. Telephone staff are not always well informed. Look at the way the MBNA ones all give different answers on BT charges.
  Eventually it may happen but I think we would have heard about an industry wide change of policy before now. As long as there are new entrants into the market trying to grab market share there will be the temptation to offer headline grabbing 0% deals.
  Maybe one or two will wrap it up but there are lots of other 0% cards out there.