More Bad News For Rate Tarts!

Yet another market-leading 0% deal has been withdrawn. However, you can still avoid interest for ages if you play your credit cards right.

It's more bad news for credit-card tarts as yet another market-leading 0% deal is withdrawn and replaced.Until yesterday, customers applying for an HSBC credit card could enjoy nine months' interest-free credit on balance transfers and new purchases. What's more, this card was one of a dwindling number which don't charge balance-transfer fees, making it a solid Best Buy. Alas, HSBC has withdrawn its table-topping offer and replaced it with a six-month 0% deal and, at the same time, it has upped the annual interest rate to 14.9% APR from 13.9% APR for new customers.HSBC is just the latest in a long line of card issuers that have pulled market-leading offers. For example, until this month, Halifax/Bank of Scotland's One card offered 0% for a whole year on balance transfers (with a 2% transfer fee) and purchases. Although it still offers 0% on transfers for a year, the 0% period for purchases has been slashed to three months, plus the rate for new customers has been hiked to 15.9% typical APR from 12.9% typical APR. Furthermore, John Lewis and Tesco Personal Finance both hiked their rates last month, as I warned in Are Your Credit Cards Turning Nasty?Credit-card issuers are losing hundreds of millions of pounds every year to rate tarts -- people who surf their debts from one 0% deal to another in order to avoid paying interest indefinitely. What's more, Britain's biggest credit-card issuer, Barclaycard, announced that its profit for 2005 was down almost a fifth (19%) on 2004's figure, largely due to soaring bad debts.Hence, these days, if you want to grab a long-term 0% deal (one lasting, say, more than six months), then you're highly likely to pay a fee for the privilege. Of course, paying fees of, say, 2% per transfer partly defeats the object (and the fun) of rate tarting, so it's best to shop around for the best interest-free deals.What's more, recent events suggest that these fantastic plastic deals are endangered, so don't hang about! Here's a selection of great 0% deals, courtesy of the Best Buy tables published by Moneyfacts:Long-term 0% deals for balance transfersCard 0% periodTransfer feeTypical APR (%)Halifax One Visa12 months 2% (from £2 to £50)15.9Abbey Balance TransferMasterCard/Visa9 months2% (from £2.75 to £50)15.9SonyCard9 months 2% (from £3 to £50)15.9Virgin Card BT Option9 months2% (from £3 to £50)15.9Egg CardUntil 01/11/062% (up to £50)15.9Long-term 0% deals for new purchasesCard 0% periodTypical APR (%)Sainsbury's Bank Visa10 months 15.9Nationwide BS Classic 9 months14.9Abbey ShoppingMasterCard/Visa9 months 15.9Intelligent Finance Visa8 months16.9Co-operative Bank Travel Credit Card7 months14.9Finally, before using any of these cards, you need to know the tricks of the trade and the pitfalls to avoid, so read Your Ultimate Guide To Credit Cards. Happy tarting!More: Let us help you to find better credit cards, personal loans and savings accounts!Cliff owns shares in HBOS, parent company of the Halifax and Bank of Scotland.