Barclays mass-market junk mail through the letter box offering the lowest ‘Balance Transfer Fees.‘ – a term with which I was unfamiliar. The upshot is that the bank is trying to lure customers who are on the edge of the credit line. They juggle debt because they are living beyond their means — otherwise why the need to transfer? Isn’t this what the sub-prime crisis was all about?
Brace yourselves for the next crash.