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Leading
Credit Cards
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| Egg |
| Morgan
Stanley |
Lots
of people have one, or a number of credit cards that they
use and many people are paying alot of money for the use
of their credit card. One way of reducing a credit card
bill is not to get one in the first place, but if you make
sure you are sensible you shouldn't have too much to worry
about if you do feel you need to get a credit card.
Obviously one way of making sure you don't incur any extra
credit card charges is by making sure you pay any statements
and bills from the credit card company on time, credit card
companies make millions of pounds with the amount they charge
as interest on things such as late payments.
The credit card trick
One "trick" many people now do is making the most
of interest free balance transfer rates. These people are
called "rate tarts" as they are making the most
of the interest free rates being offered by the credit card
companies. Basically how this works is that in their aim
to get your business credit card companies have to make
their card the most attractive to you, and ways of doing
this is by allowing new customers to transfer the balance
of an old credit card onto theirs and then offer them maybe
6 months interest free on this balance, so you won't have
to pay anything on the debt for 6 months, at which point
you can then find another credit card company who are offering
the same deals and movre the balance over to them. Credit
card companies are offering around 6 months upto 9 months
interest free on these balance transfers and there are a
number of credit cards who are offering it. You are able
to apply online quickly and easily now to many.
We
would say however, that doing this will not alter the fact
that eventually you will have to repay the debt at some
point, and we must stress that you make sure you are sensible
and don't keep on increasing the debt, you should use it
as a way to make the payments easily by not paying out quite
as much and reduce the debt over a longer period which is
more manageable!
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