UK Money News

Money News

29th May 2008

Borrowers want zero per cent balance transfers

Zero per cent balance transfer offers have been named as the most important feature of a credit card in a consumer poll.

In a survey conducted by Fairinvestment.co.uk, 21 per cent of those polled identified zero per cent balance transfers as the most desirable feature offered by a credit card provider.

Other popular offers were a competitive rate and no annual fee, which were joint second with 18 per cent each, and free air miles with five per cent of the vote.

However, just three per cent of respondents considered the design of the card as important - a development which the site said is attributable to a change of priorities brought about by the credit crunch.

Head of credit cards at Fairinvestment.co.uk Matt Edwards said: "It is good to see that consumers are trying to get as much as they can from their credit card providers. It is also reassuring to see that consumers are taking the credit crisis seriously and choosing their credit card deal accordingly."

He continued: "There was a time when credit was so readily available that credit card design was something that mattered to people, now I am glad to see that design was hardly considered important."

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