Balance transfer fees slashed on 0% dealsCredit card providers offer 0% deals at half price
18 January 2013
Nationwide, Lloyds TSB and Bank of Scotland have halved their fees on 0% balance transfer deals in a bid to entice customers looking to pay off credit card debt after Christmas.
Nationwide is offering half off the 3.1% transfer fee for the 20-month 0% balance transfer deals on its Balance Transfer and Select Visa credit cards. This could save you up to £47 in fees on a £3,000 transfer.
Lloyds TSB and Bank of Scotland will refund half the balance transfer fee of 3% on 21 and 18-month 0% deals if you apply before 23 February and transfer a balance before 23 March. The refund is paid back into your credit card account.
Some Lloyds TSB customers will be offered a shorter 13-month deal instead, depending on their circumstances.
On another 13-month deal, NatWest/RBS is currently charging a fee of just 1% (min £5) on its Platinum Low BT Fee MasterCard.
Lloyds TSB rated poor for customer satisfaction
In our latest credit card survey, Which? members rated Nationwide highly for customer satisfaction with a score of 74%.
Lloyds TSB and Bank of Scotland languish at the bottom of the table with 52% and 54% respectively.
If customer satisfaction is a deciding factor in your choice of credit card, look for deals offered by other providers. For more information about which credit card providers are rated the best by Which? members visit our credit card customer satisfaction table.
First Direct no longer a Which? Recommended Provider
Consistently high scoring among Which? members, First Direct has been a Which? Recommended Provider for the past three years but no longer qualifies. This is because it no longer offers a credit card deal that is a top-10 card in any of our Best Rate credit card tables.