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David Miles, the incoming member of the MPC, has this evening suggested that the worst of the UK recession may be over and house prices may have bottomed out. While there is some scepticism with...
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Thursday 4th September 2008
News that the Nationwide Building Society is extending the 0% interest offer from their basic cards to the Gold and Classic services has been well received by consumers who have been under pressure for some time. As the clamour to take up the new offer builds maybe we should take a closer look first?
While there is no doubting the 0% interest offer and the fact that the introductory period has been extended from 10 months to 13 months, many people may not have checked out the charging structure. In order to make use of these offers customers will be charged a fee of 3% on the transfer balance – a fee which was increased from 2.5% when the offer period was extended. So does this matter?
Even though the fee is a little disappointing the deal seems to compare well to the array of other offers in the market although it does highlight the consumers aversion to checking the small print. While the credit cards companies in the UK often come out with headline grabbing offers do not forget that they are businesses when all said and done and it is the consumer who pays at the end of the day – in some shape or form. |
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