0% balance transfer deals ditched by RBS, NatWest and Capital One

Royal Bank of Scotland (RBS), NatWest and Capital One are just a few big banks who have scrapped the zero percent on balance transfer deals for credit card holders wishing to take advantage of the interest free periods.

MINT also joined the three big banks who have now completely withdrawn their 0 percent balance transfer deals.

According to Moneyfacts big names like Sky, Sainsbury’s Finance, Halifax and Abbey have all reduced the time scale for consumers to pay no interest on their purchases.

Analysts warn consumers that the interest free periods of their credit cards will rapidly come a thing of the past, already you will need to look hard for better deals elsewhere, however the deals lessening each day and soon you will be forced to pay up – or be left with no choice but to pay the sky high APR.

The news comes as Credit Card firms tighten up their lending as a result of alarming research by Abbey that revealed the average person’s disposable income has fallen 30 percent over three years in Britain.

Source: moneynews