The cost of a balance transfer to reduce credit card debt is set to rise as the number of companies offering capped rate deals is dwindling.
Research from MoneyExpert shows that there are only a handful of credit card companies that are offering capped rate balance transfers. The rest charge a flat percentage that applies however much debt you're transferring.
The report from the group shows that consumers can pay well into the hundreds of pounds, just to move the debt from location to the next and urged people to find the best deal before committing.