UK Consumer Debt creeps up!
Costly Christmas paid for on credit and rising costs in many areas of consumer spending from gas bills, supermarkets to petrol and mortgage rates is causing distress across the country with increasing numbers of people experiencing "debt".
In many cases debt is unavoidable but what can be avoided is being ripped off by credit card companies.
In many cases debt is unavoidable but what can be avoided is being ripped off by credit card companies.
We at TheRateTart are surprised to hear how few people in debt shop around to get a better credit card. Many people in debt are paying huge interest rates on their credit cards without realising how much they could save by simply comparing the "interest rates" on current card offers or other "penalties" or "rewards" they offer.
We recommend you move your debt to low interest cards, preferably 0% interest cards with 0% on balance transfers as well. This could save you £100s a month in interest depending on how much credit you have used.
More people are asking for financial help from the government than this time last year and more people are experiencing difficulties. Reducing the costs on your credit cards could be crucial.
Added : Wednesday 30th January 2008 10:40
