Transferring credit card debt is a smart way of avoiding high interest payments

There has never been a better time to try and reduce debt on that credit card that keeps racking up eye watering interest, and one of the common ways of attempting to avoid interest charges is to transfer the debt over on to a credit card offering 0% interest which enables customers to avoid those charges for a set period of time.

There is a website known as lovemoney.com which allows customers to compare a list of 0% credit cards which they can again transfer their debt on to if they haven’t managed to clear the balance of the previous cards.

Another alternative method is to take out an APR card which is also known as a lifetime balance transfer card which offers a low rate of interest compared to many other cards the only downside is there is still interest being racked up so it is important to get the balance cleared as soon as possible.

By going down this road and opting for the APR card there is that ease of mind that customers don’t need to continuously transfer their balance on to card after card, worry about the interest charges varying and offers less hassle.

As a final note, if the burden of debt is becoming a bit to much then there are plenty of tips and tricks that can be used to cut back on the spending and balance incomings and outgoings. There is also question and answer tools on various websites allowing the consumer to get help as well as the advice from many members of lovemoney.com who have been in a similar situation.

 

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