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Over recent years, with more and much more credit cards coming onto the marketplace, many people have started to switch their credit cards regularly in order to try and avoid paying interest on the borrowing. For many savvy, organised individuals this can be a method that has proven successful when it comes to saving them money on their credit, but it seems that the global recession may have signalled the end with regard to rate tarts. Prior to the credit crunch switching in one 0% balance transfer card to another didn't seem to be much of a problem for the actual organised rate tart, providing he or she stayed along with expiry dates of special offers, so the next card could be applied for in lots of term for the transfer to be performed before interest grew to become charged. However, rate tarts are now finding it increasingly difficult to do this process, with credit conditions now tighter than ever before. The first problem that many price tarts may hit is that proven fact that lenders in all sectors, including charge cards, have really cut back on their own lending levels, and are being much more cautious about who they lend in order to. Many applications are being rejected by credit card issuers, and rate tarts may find that it's far more difficult to get credit cards than it was a year approximately ago. A second problem that rate tarts may face may be the expense of transferring their balance. Previously there were a number of credit cards that offered capped balance transfer costs, so you always knew the maximum amount that you would need to pay to transfer your balance. Nevertheless, the number of cards offering assigned transfer fees has more than halved in the last year, which could make it increasingly expensive for rate tarts to use. You also need to be much more careful than over about making multiple applications for charge cards, as this could make a mess of the credit profile, which will make it even more complicated to get a credit card - or every other form of finance - later on.






R. Charlton, award-winning writer, shares her financial expertise like a contributing columnist for compare credit cards at credit greeting card comparison online, where you can compare 0% balance transfer credit greeting card best buys.

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