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    The idea of a balance transfer deal was introduced to the UK in the year 2000 by innovative online bank Egg plc, who offered customers a bait of 0% interest for six months on balances they transferred from another credit card.

    The feature was an instant hit, and more and more card issuers began to offer similar deals as competition for customers grew more intense. Before long, it seemed that every card a

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    nnovative online bank Egg plc, who offered customers a bait of 0% interest for six months on balances they transferred from another credit card.

    The feature was an instant hit, and more and more card issuers began to offer similar deals as competition for customers grew more intense. Before long, it seemed that every card

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    months on balances they transferred from another credit card.

    The feature was an instant hit, and more and more card issuers began to offer similar deals as competition for customers grew more intense. Before long, it seemed that every card

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    s an instant hit, and more and more card issuers began to offer similar deals as competition for customers grew more intense. Before long, it seemed that every card
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    mpetition for customers grew more intense. Before long, it seemed that every card available had 0% deals of ever-increasing lengths.

    It didn't take long for savvy cardholders to spot a pretty major flaw in the credit industry's thinking though. With so many cards offering 0% deals, what's to stop people from becoming serial balance transferers, moving their debt to a new card as the 0% period expires? An

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