In a previous post about sorting out your credit card debt by using 0% balance transfer cards, I mentioned that you have to look out for the large balance transfer fees that some card providers now charge.
It’s getting rarer to find such cards where there is no transfer charge, but both the Yorkshire and Clydesdale banks are offering such deals at the moment.
Up until 28th February they are waiving their balance transfer fees, however it’s worth noting that the 0% interest period on these cards is only 6 months, and so you may have to be prepared to look around for a similar deal at the end of that period if you haven’t already paid off your balance.
This specific deal doesn’t seem to be mentioned on their websites at the moment, so it may be worth giving them a call before signing up – like a lot of credit card providers, their usual balance transfer fee is 2%.
I’ve written a similar article on the various changing fees in the market. Hopefully they’ll start to level out and stay static for a while. At the moment it looks like the card companies are inching them up to see how far they can go.