Why doing nothing could prove very costly
Even though it would be wrong to suggest that the UK credit card market is in any way back to full strength we are starting to see a number of new cards released into the market which could prove very useful for some UK consumers. After a period during which there were literally no 0% balance transfer offers available we have seen a significant increase over the last few days as competition starts to seep back into the market. Have you reviewed your credit card and debt obligations?
If you are overdue with any of your credit cards repayments there's every chance that you'll be attracting significant interest which will prove very difficult to pay off, aside with your standard capital repayments. Even though many people in the UK are in this position the vast majority have not even considered transferring their balances to a new credit card with 0% interest. This could literally save thousands upon thousands of pounds if you have significant debt on your credit card and give you more chance and more opportunity to pay down your capital.
Interest charges on credit card debts are literally killing the finances of many in the UK although there are options available which need to be considered.
Share this..
Related stories
Scottish Executive receives lukewarm response from Diageo
The closure of various Diageo operations in Scotland, with the potential loss of up to 900 jobs, has been a hot topic in Scotland for some time now. After the company initially announced a restructuring of its Scottish operation the Scottish Executive and the unions were up in arms and have been involved in various demonstrations against the move.
While Diageo has been willing to ta...
IMF suggests that the UK economy is weakest of the developed world
A recent IMF survey suggests that the UK economy is the weakest of the developed world and the UK recovery period will be long and hard. Like so many financial institutions of late, the IMF has centred upon the weak position of the public purse where debt has grown to £600 billion and is set to crash through the £1 trillion mark over the next three years. The Labour Party claims yesterday would...
Read MoreIs Minerva now in play?
A 50p a share cash offer for UK property company Minerva has certainly put the cat amongst the pigeons in the UK property sector. Only 16 months ago the company was flying high attempting to fight off a £1.60 share cash bid which ultimately fell through. However, since then the company has struggled and the shares have been as low as six pence during this very difficult economic period in the UK....
Read MoreAre UK energy prices set to fall?
Despite recent attempts to decouple the UK energy market from the oil sector there is now growing pressure on UK energy providers to reduce costs. After a report from the International Energy Agency today we saw a significant reduction in the price of oil which is now around $50 a barrel. The report suggested that oil consumption in 2009 could fall by as much as 2.4 million barrels a day, heaping...
Read MoreWould you still look overseas for your bank account?
The collapse of various Icelandic banking operations continues to hit both UK corporates and UK investors heavily with many still awaiting for their compensation. This particular saga has given many investors a serious reality check with regards to their overseas bank accounts and their willingness to chase the best interest rates. In basic terms, any return over and above the average will certain...
Read More