Millions switch cards when 0% deal expires

New figures from Sainsbury’s Bank suggest that nearly two million credit card holders intend to switch providers over the next year, when their 0 per cent balance transfer offer expires. A further 900,000 card holders will switch when their 0 per cent purchase deal expires, according to the bank’s latest research. After the introductory offer on these cards ends, the percentage rate charge rises to 18.2 per cent on average while the APR on new purchases rises to around 18 per cent, so it’s hardly surprising that customers chose to move their business elsewhere

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Millions switch cards when 0% deal expires