One of my favourite financial repair-and-rebuild strategies is the 0 per cent balance transfer.

In the credit card concept that came to Australia from Britain two decades ago, new customers get an introductory rate of zero on balances they transfer from a rival institution, for a period of time.

The disappearance of many balance transfer offers shows that banks are willing to pay less for customers.Credit: Atstock Productions

However, that period of time is now shrinking. Or if it is not, the interest rate is growing. Exclusive analysis from datahouse Mozo reveals that virtually all institutions have curbed their deals this year.

Two years ago, a 0 per cent transfer allowed you to escape interest for as long as 34 months (the best was Bankwest’s Zero MasterCard or Zero Platinum MasterCard). It’s now just 26 months.

But more telling is that Mozo says there is only one provider left offering 0 per cent for that length of time: ANZ (on its Low Rate card). You can now get only 24 months with BankWest (Breeze/Breeze Platinum), Latitude (GO Mastercard) and Virgin Money (Anytime Rewards/Velocity Flyer).

Rounding out the top five deals is Westpac (Low Rate card), which is giving only 20 months. But, notably, the Westpac-owned banks now seem to be former 0 per cent players,........

© The Sydney Morning Herald