Martin Lewis, the UK money-saving expert, posted an 'important alert' on X on Friday, October 16, warning that people with credit or store card debt may face worse balance transfer deals as UK interest rates are expected to rise. He said four changes are likely: a shorter 0% period, a higher one-off transfer fee, a higher rate once the 0% deal ends, and tighter eligibility that means fewer people get the best deals. He urged people to act sooner, noting that debt charity StepChange reports 18 million people in the UK hold credit card debt. Experian says transfer fees typically range from around two to four per cent of the amount moved, and advises clearing debt before the introductory period ends.
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Original headline: Martin Lewis major new Friday warning over subtle changes
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