Glossary: Rate tart

Somebody who either switches from one credit card to another so they can take advantage of introductory interest rate deals or someone who regularly surfs their credit card debt from one 0% credit card to another to prolong the period of interest-free borrowing. However, lenders are now wise to this practice and have become stricter to whom they will lend, 0% deals are drying up and those that do exist carry a transfer fee of a percentage of the balance the borrower is looking to surf. Not to be confused with stoozing, as stoozers are never really in debt and stooze to make money whereas rate tarts shuffle their debts to prolong the day when they have to pay them off.

Relevant to: Credit cards

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