15 June 2005
New research has revealed that millions of Brits could profit by consolidating all their credit card debts onto one card.
The study, by Capital One, shows that nearly 25 per cent of card holders have more than one card balance and many are paying more than they need to.
Dan Cobley, of Capital One, said: "Transferring balances on to a single card with an interest rate that stays flat offers a simple solution for many trying to manage multiple credit card accounts."
The advantage of having just one card is that the customer does not need to keep track of the varying interest rates across a selection of credit cards, making their finances easier to manage.
Mr Cobley concluded: "Sticking to one low rate card makes organising personal finances easier and helps to avoid any surprise bills from forgotten credit cards."
Use uSwitch's impartial credit card calculator to compare all credit cards and find the card to suit your needs.
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