Lifetime balance transfers ‘flexible debt solution’
Lifetime balance transfers offer a flexible debt solution for credit card users, it has been suggested.
Heather Scott, head of corporate communications at Intelligent Finance, notes that the deals have a number of benefits over alternatives.
But she adds that consumers should be certain that they offer the most appropriate debt solution before signing up for a new card.
“We view it more as a niche product and one that depends very much upon prevalent market conditions,” she explains.
Ms Scott stresses that for disciplined customers the flexibility engendered by a lifetime balance transfer may be preferential.
“You are not bound by a regular monthly payment but can choose to pay the minimum or indeed more,” she adds.
But she warns that if interest rates fall, cardholders could find their outstanding balance retains a rate above the market average.
Expert assistance could aid consumers in identifying a debt relief solution most suited to their individual financial situation.
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