Researchers have given a warning that people who shift between credit cards for getting the benefit from low introductory offer might have to face the wrath of expensive uncapped fees.
It was further revealed that now the norm was of unlimited balance transfer charges as one in eight credit cards capped fees. This is being done in order to earn some revenue due to increasing bad debt.
An analysis undertaken by price comparison website has shown that around seventeen of the one hundred and thirty three standard credit cards which accepted balance transfers had set a fee limit of from 30 to £50 for their customers.
