With so many credit card issuers offering 0% on balance transfers from anything up to 12 months, its no small wonder that people are looking to constantly switch from card to card.

There is now three types of card jumpers on the go, the first one is the Rate Tart, who just needs to try and work to a system, to know when their current 0% interest card ends and then be on the look out for a new deal to switch to.

Then there is the Stoozer’s, who have to watch the market with a lot more diligence, as they apply for two 0% rated, then switch their balance from one card over to the other, this then can be seen as a credit by some providers, which in turn can be transferred into savings account that will lead to them making more cash from their debt. Though always remembering to return any balance back over to the original card before the 0% interest period is over, or by taking out another 0% credit card and doing the same all over again.

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The third and final type of card jumper is known as a serial switcher, whose moniker should speak for it’s self. These type of jumpers rely on constantly moving from one card to another, though they are leaving so many cards that are being unused that some of the bigger card issuers are fighting back by introducing charges onto the card holder who want to transfer a balance on to another card. Some of the lenders who are now doing this include MBNA and Barclaycard.

Though the credit card issuers are trying to curb these practices, the only people to blame are the companies themselves, due to the fact that they were fighting for the custom and offering the 0% periods to gain that custom, they opened up that window of opportunity all on their own. With issuers such as Tesco, Sainburys and Asda coming into the credit card market in recent times, and offering periods of up to a year of 0% APR, the competition is fierce.

All this has led to the people of Britain owning more, than anywhere else in Europe, with more cards being issued on this island than people who live on it. Though the introduction of the new Chip and Pin system will probably see a down trend in the number of cards, due to confusion with Pin codes.