Card providers do not tend to make a profit from offering interest-free balance transfers so the aim is to attract customers who will then remain with the company for its relative quality of service rather than a short-term good deal.

Periodic discounts, such as one particular current deal from Egg, now appear to be becoming the preferred method of card providers to maintain their client base, according to the head of Uswitch’s personal finance department, Nick White.

“Lenders are now aiming for retention rather than volume,” he claimed.

“Egg has a deal where you get zero per cent for the first six months and then reductions on your interest rate on the first and secondary anniversaries.

“They are trying to encourage you to stay with them by offering a discount on their standard rate over time,” Mr White added.

The number of zero per cent rates available on the market has fallen in recent times, making way for the newer structured forms of rewards for customers taking out a particular credit card.

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