Sainsbury's: Credit card customers transferring balances
www.moneynews.co.uk > Credit cards > Sainsbury's: Credit card customers transferring balances
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Sainsbury's: Credit card customers transferring balances
Wed 2nd Apr 2008
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Sainsbury's found that 716,000 credit card customers planned to switch an average of £1,555 to a card with a better introductory offer, with some balances exceeding £4,000.
However Sainsbury's noted that some deals were of a limited lifespan and urged customers to look around for the best to suit them.
The average interest-free period on balance transfers is about 9.5 months but some are significantly more or less.
Head of cards Donald MacLeod said: "Although there are a number of credit cards offering introductory zero per cent on balance transfers, there is a considerable difference in their duration so people need to choose carefully."
Other recent research by Sainsbury's revealed a third of credit card holders are paying interest on their account balances and many people say it takes them longer than a month to clear their debt.
Related News : Credit cards |
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Related News : Sainsbury |
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