More than 1m 0% credit card transfer applicants short changed on offer

13th January 2014

Credit card wars have seen 0% balance transfer offers soar to as long as 30 months but applicants do not always get exactly what they ask for.

A study from independent market research firm Consumer Intelligence found that 10% of customers – more than 1.1m people – applying for 0% balance transfers in the past two years have been offered a shorter introductory period than they expected.

And of those successful with applications 11% have not been allowed to transfer the full amount they requested.

The cut in length of balance transfer periods highlights how, while card firms are legally obliged to offer their advertised APR to at least half of all successful applicants, they are not obliged to offer the full length of the 0% deal to every successful applicant. Indeed many card firms specifically advertise different lengths of 0% balance transfer periods.

David Black of consumer intelligence says: “The balance transfer wars between credit card providers with card firms competing on length of 0% offers and even balance transfer fees has been great news for borrowers.

“However, applicants need to be aware before applying that the best deals are only available to those with good credit histories and that they may not receive precisely what they are applying for.”


The table below shows how applicants across the country have fared over the past two years.


East 12% 7%
East Midlands 12% 17%
London 17% 10%
North East 14% 5%
North West 6% 6%
Scotland 7% 18%
South East 6% 10%
South West 9% 16%
Wales 12% 7%
West Midlands 16% 12%
Yorkshire & Humberside 5% 9%
GB 10% 11%



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