Monday, February 06, 2006

Credit Cards: 0% Balance Transfers…..Be careful

Using 0% Balance transfers on Credit Cards has become popular in recent years. Credit card lenders have realised this & have introduced a subtle new charge.

Lenders such as Egg & MBNA have introduced a 2% arrangement fee…..with a minimum of £50.

Eg you transfer £1000, with the fee of £50….
The arrangement fee is actually 5%
With £500, it’s 10%......

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