The once-extinct fee-free credit card balance transfer is seeing a resurgence, as several credit card providers have decided to bring it back from the dead, which will be advantageous to customers as they transfer £6.68 billion from one card to another over the next six months.

Free balance transfers had become unheard of, with the last ones dying out last year, and this is the first time since then that customers have been able to move their balances from one credit card to another without incurring a two to three per cent fee.

However, the fee-free deals offer shorter introductory rates than those that do charge, and are only available to those with spotless credit histories, so it could remain better value for people with large balances to go for the one with the lowest long-term interest rate