Zero per cent deals ''offered by fewer providers''

Fewer and fewer credit cards are offering zero per cent balance transfer periods, figures have shown.

The new data, from financial website MoneyExpert.com, suggests that ten per cent fewer card firms are advertising the offer, when compared to 12 months ago.

In the interim, the credit crunch has resulted in banks toughening-up their lending criteria and becoming much more selective about who they loan to.

"Rate tarts", who juggle debts between cards by taking advantage of initial zero per cent balance transfer offers, are likely to have been negatively affected by these trends.

However, many zero per cent deals remain on the market – around 75 per cent of firms currently carry the offers, MoneyExpert.com said.

Sean Gardner, director of the site, added: "These figures should send a clear message to borrowers that the credit card merry-go-round is grinding to a halt.

"This trend away from extended balance transfer periods underlies a shift in the industry which is increasingly cautious about the people it lends to and is far more interested in the profitability of its customers."