Which credit card is best for consolidating my debts?
How much interest do you currently pay on your cards? You can probably find a better deal by consolidating your credit cards to one with a low or 0% interest rate.
Many providers offer interest free introductory periods as a way to entice new customers to transfer a balance. Some offer a 0% interest rate for over a year, which can add up to a significant saving.
Other cards offer introductory low interest, or even better, a standard low interest rate for the life of the debt.
What’s the best way to reduce my debt?
The only way to reduce your credit card balance is to make more than the minimum monthly repayments. Paying the minimum amount each month is not really enough, you will mostly be paying the interest. Even if you have a 0% introductory rate, you will still barely make a dent in your debt.
The minimum monthly repayment amount can be as low as 2% of your balance. Your interest can sometimes be more than your repayment. That means that if you just make the minimum repayments, you will never pay off your debt.
Need help paying your debt?
There is help out there if you think you need it. Use our debt help tools and articles to find a debt solution that’s right for you, and to find sources of debt help.
Consolidate my credit cards now
Use our switching service to find the best credit card for consolidating your debts. Once you transfer your balance using our free, simple and impartial service, you should cut up your old credit cards at once. The last thing you need is the temptation to use them again.