Debt reducing tips/money saving tips
Bank Account
Do you have the right bank account? Are you being charged for just going into an unauthorised overdraft? Make a note of all the charges you ineecurred over the past few months and if necessary see if you can get either get an authorised overdraft or change it to a loan with a lesser interest payment. Reputable banks only make one charge a month for going overdrawn. Bouncing a cheque or direct debit can cost as much as £70 as many banks will represent the payment twice. Make sure you are managing your finances. Also check your statements and see if you still need to be paying for something you no longer use, e.g. book club, gym or no longer required insurance.
Credit cards
If offered a 0% rate by another credit card provider then consider this but study the terms and conditions carefully as this special arrangement may only be for a limited period only and may not cover future purchases. Try this link as they search for the best deals, including no interest transfers www.creditcardexpert.co.uk
If you already have 0% interest on your balance with a particular credit card provider then why not enquire if they will accept transfers from other credit cards at the same o% rate.
A telephone call to your credit card company telling them that you are about to transfer a balance may result in them offering a lower rate. Remember not to tell them what your balance transfer rate is. If you have several credit cards, phone them all and ask what the best rate they can offer you and if they will increase your limit to allow a transfer. Once you transfer a balance remember to cancel the old card. ...
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