| What you are about to read may make you | | | | that you have all the interest to pay and you |
| reassess your attitude to zero interest balance | | | | start to struggle with the minimum payments and |
| transfer offers. I will show how these balance | | | | miss one or two. Because you've missed |
| transfer offers are pushing more and more | | | | payments it becomes even more difficult to find |
| people into serious financial difficulties and I will | | | | the next interest free balance transfer offer.Now |
| suggest a few ideas on how you can manage | | | | you have a real problem but it is one that can be |
| your debt better.Credit card debt is rising at an | | | | avoided.I could suggest that you don't use credit |
| alarming rate and many people are now getting | | | | cards but I suspect that would not be acceptable, |
| into serious financial difficulties. One of the reasons | | | | and I am not going to suggest you ignore the 0% |
| is the promotion of no interest balance transfer | | | | offers - that would mean you paying interest |
| offers and interest free initial periods.Like most | | | | when it is not needed.The simplest way to benefit |
| people, I've been tempted by the these offers to | | | | from these balance transfer offers, but keep |
| change my credit cards. I've taken them up on | | | | your card debt under control, is to cut up your |
| their offer and moved my credit card debt and, | | | | old card when you switch to a new one.That way |
| for a limited time, had no interest to pay. But | | | | you benefit from the 0% offer but minimize your |
| "just in case of an emergency" I usually hang | | | | exposure to higher debt.Once you have cut your |
| onto my old card.Then something happens, an | | | | card up though, it is essential that you contact the |
| unexpected bill, or a wedding or birthday gift I've | | | | card issuer and close the account. Until you close |
| forgotten about. "Never mind" I tell myself "I can | | | | the account the card issuer will continue to tempt |
| put it on the old card - there's plenty of credit on | | | | you with special offers to use your old |
| there so it's no problem."A few months and a | | | | card.Another tip is to never pay just the minimum |
| few unexpected bills later the interest free period | | | | payment. Always pay the maximum monthly |
| runs out I have to pay interest on both my new | | | | payment you can afford. Reducing your |
| card and the old card. Now I'm worse off than | | | | payments simply pushes back the time when you |
| when I started but that's no problem as I can | | | | have to repay and in the long term increases |
| look for another card offering another interest | | | | your payments. Use the interest free period to |
| free period and zero interest balance transfers.It's | | | | reduce your debt to the minimum and if possible |
| so easy and the banks and credit card companies | | | | clear the balance.Credit card companies don't |
| are so eager to lend the money that it becomes | | | | offer an interest free balance transfer because |
| routine, until that is, something goes wrong. You | | | | they are feeling generous. They do it because, in |
| could fall ill and be off work, or, you could lose | | | | the vast majority of cases, they will be able to |
| some overtime and your wages fall, or maybe | | | | charge you more in the longer term. Use interest |
| that big deal you were relying on falls through.It | | | | free credit to benefit you not the credit card |
| may just be that the credit card companies | | | | companies.John writes articles on a number of |
| decide you have too much outstanding on credit | | | | topics including debt management and finance. Go |
| cards and you would have difficulty paying the | | | | to Credit Card Management for more information |
| repayments, or simply they spot that you are a | | | | on how to manage your credit card and other |
| regular churner of the debt and they don't want | | | | debts. |
| your business.Whatever the reason the result is | | | | |