Credit card issuers have become more wary of “rate tarts” who shift card balances around to take advantage of introductory low rate offers according to Infochoice’s general manager, Denis Orrock. He warns that while consumers may get three or four chances to switch cards companies will start rejecting applications. Card issuers can access credit history files to see if there is a pattern of applying for a card every six months and may decide that you are not the type of customer they want if rate-tart activity is identified.

Mr Orrock said that he expects card companies will introduce balance transfer fees where a percentage of the transferred amount is charged to cover costs and discourage card churn.