September is quickly on its way out and October is arriving in its place. With it, the last two weeks of the month have showed no dramatic changes as far as the Balance Transfer Card market goes. Because of the dismal state of the American economy, consumers are shying away from credit cards altogether, balance transfer or no balance transfer (according to a report on Smart Balance Transfers website).
Also, the same article indicated the disturbing belief held by at least 80% of Americans that we are facing the possibility of another recession. No wonder, then, the credit card world on a whole has been rather quiet.
Lowered introductory rates, as advertised by major issuers recently, have wooed some consumers to take their existing debt, put it on a new Balance Transfer Card and then pay them off, all while the interest remains low.
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