Financial Services > Credit Cards > Credit Cards News

Zero per cent credit cards defended

Tue, 11 Mar 2008

Zero per cent credit card deals offer a useful tool for most Britons, but only if they are used responsibly, one industry body has said.

Responding to an attack by the Conservative Party on such credit card deals, Steve Willey, head of cards and payments at Moneysupermarket.com, explained that it is not the credit cards themselves that are the issue.

He said: "Shadow business secretary Alan Duncan has missed the point and shown some naivety when he says zero per cent offers are not acceptable practice.

"A zero per cent offer on balance transfers or purchases is an excellent offer for most Brits. What needs to be looked at is responsible lending, by cracking down on the extension of debt to customers."

He added that the biggest problem came when someone switched to a new credit card but did not close the old one down, meaning they had more credit available to them.

Last week, MoneyExpert.com revealed that more than 3.2 million Britons have five or more credit cards .
add to favouritesnewsletterlink to this pagesend to friendpost comments

Link to this page

Copy and Paste the following HTML into your page.

Choose a credit card

Choose the perfect card

Choose the right credit card for you and apply with confidence.

Choose a credit card