More people are taking advantage of 0% introductory APR's on balance transfer. Its a good idea if you're carrying interest bearing balance. You can consider switching by transferring the balance to 0% inductory offer cards. There are plenty of such offer cards available. You can search around the web for it. And they are quite easy. You don't need to do more exercise to switch. Such 0% cards also offer cash back, rebates, reward points etc which is attracting even more people towards it.
I read an interesting figure about credit transfering cards in Magic loans.Magic loans is loan provider with typical 10.9% APR. It provides Homeowner Loans, consolidation loans and secured loans. According to the news, Some £6.68 billion will be transfered between credit cards with in next six months. The figures from the research by Sainsbury's Finace says over 4 million people wants to transfer their funds between now and july opting to switch to zero percent credit card deals from their current plastics. Estimated five million of people with outstanding balance are incurring and also admit that take them longer than a month to clear their spend according to Donald Macleod of Sainsbury's Finance.
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