Balance transfers were at one time all the rage, and one of the main criteria people used when deciding on a new credit card. First introduced to the UK by Egg towards the end of 2000, a boom was sparked in credit card applications and a new strategy of serial balance transfers was quickly devised by savvy cardholders who found they could avoid interest on their debts by shifting them from card to card, taking advantage of 0% transfer deals.
This practice ...
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