Find out more about combining your credit card debt into one low or 0% interest rate credit card
Feel like you're paying too much in credit card interest? Merging multiple cards into one with a low or 0% interest rate card is known as credit card consolidation.
Consolidate credit card debt
Find a balance transfer card with a long interest-free period and consolidate your existing card debt
Many credit cards providers offer introductory interest-free periods as a way to entice new customers. Some offer long 0% interest rates, with the longest balance transfer deals lasting over two years.
Other cards on the market simply offer a standard low interest rate for the life of the credit card. See how much your debt is costing you with our repayment calculator:
Reducing credit card debt
A quicker way of paying off your credit cards debt is to gradually increase your monthly repayments over time.
Paying back the minimum amount each month can be an expensive business, with the bulk of the debt coming in interest. Even with a 0% rate, paying the minimum is unlikely to make much of a dent in your credit debt.
If the minimum monthly repayment amount is as low as 2% of the card balance, the interest can often exceed the amount owed. This means that simply making the minimum repayments will never be enough to pay off the credit card debt in full.
Read our debt help guides for more information on credit card debt consolidation and to find sources of debt help.