Cutting your outgoings and saving Money the easy way
Heres a quick guide to reducing your credit card debts.
If you need some more reasons for getting rid of your credit card debts have a look at Credit Card Small Print
Change over to a better credit card deal
Find a credit card with a better rate than you’re paying now. A lot of banks and credit card providers have 0% introductory periods on their cards, these 0% deals offer periods when you won’t pay any interest on your credit card balance for up to a year. While making payments on a 0% deal you will be chipping away at the capital rather than just interest and clear the debt quicker. The rate will rise after the offer expires.
You could look into a consolidation loan
Stop spending on the card
Clearing credit card debt rule number One. Stop using the card for purchases. If you keep using it, clearing your debt will be more difficult. Don’t chop the card unless you have money for emergencies.
Use your savings to pay off your credit card
A common mistake is to carry debt on the credit card while stashing money away in a savings account. Unless you have a 0% card, this doesn’t make sense. Even the best savings accounts don’t pay much more than 5% and a typical credit card APR is nearer 15%. So take the money from your savings and clear your credit card debt.
Pay more than the minimum amount every month
You need to pay more than the minimum payment amount every month. Even small, seemingly harmless debts can grow out of control.
Charges
See this info for reclaiming the unlawful Bank Charges Reclaiming Bank Charges
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