How to pay off your credit card debt as quickly as possible
As many in the UK continue to struggle under a mountain of debt, with credit card debt particularly high, there are a couple of simple ways in which you can reduce the interest on your debt mountain and pay off the outstanding funds as soon as possible. It will come as no surprise to learn that 0% credit card balance deals are starting to come back to the market and should be considered by those struggling to repay current debt levels. However, you need to consider a number of factors before deciding on the best offer for you.
If you have a relatively small outstanding balance and feel that this could be paid off within a six-month period, which is the common length of time of non-fee paying 0% balance transfer deals, then this could be the best option for you. However, if your debt balance is fairly high and you feel it could take longer to pay off the outstanding funds, then look towards a fee paying 0% balance transfer deal. The trick is that many of the fee paying deals will offer a longer 0% interest term which can be anything up to 18 months.
Share this..
Related stories
UK Treasury refuses to halt retail business rate increase
In a severe blow to the UK retailing sector it has been revealed that an increase in uniform business rates planned for 1 April 2009 will go ahead as normal. This move will see retailers hit by a 5% increase in the uniform business rate at a time when many of them are struggling to survive let alone tackle higher cost. While the increase will hit the sector as a whole, many of the U.K.'s largest r...
Read MoreThe cost of moving your broadband
The Citizens advice service has warned that tens of thousands of broadband customers throughout the UK are experiencing unnecessary ‘costly’ charges to change supplier. The free and impartial advice service estimates that the average cost of ending a broadband contract is £190, with some termination fees as high as £625. It has been claimed that many broadband customers are confront...
Read MoreUnited Arab Emirates celebrates 38th birthday
What a time for United Arab Emirates to celebrate its 38th year in existence with the Dubai debt crisis creating a large cloud over the area. The behind-the-scenes action continues with regards to Dubai with a general assumption that the Abu Dhabi authorities will step forward to cherry pick the best assets and offer partial assistance to the Dubai government. This is almost certain to happen soon...
Read MoreIreland's economy downgraded by Standard and Poor's
The recent rollercoaster ride of the Irish economy touched a low point today with news that the sovereign debt rating on Irish government debt has fallen from "AAA" to "AA+" which is a significant downgrade for a country. Ireland is only the second Eurozone country to feel the wrath of the credit rating agencies with Spain losing its "AAA" rating just a short while ago.
While the do...
Vodafone could be the next corporate entity to leave the UK
The UK government is this evening under pressure with news that Vodafone, the world's largest mobile phone company, is considering leaving the UK and setting up a new head office overseas. The company has been in talks with the UK government for some time with regards to foreign income and how this is addressed with regards to UK taxation. Directors of Vodafone have expressed their frustration at...
Read More