Debt Reduction Tips - Credit Card and Bank fees

Posted on December 22nd, 2008

Finding better deals and taking advantage of them to help you overcome your debt is the goal you’re trying to reach. If you haven’t yet found a 0% card, or can’t get approved, simply choose the lowest rate from the options that you did find.
• If you are looking to balance transfer, first call your lender and ask them if they can help you. Ask them these things when you call
• Do you have cards that have lower interest rates, or do you offer balance transfers?
• Can you match the amount of my debt to the free credit on a balance transfer card?
Once you know all these things, make a note of it. It’s a lot of information and easy to get mixed up.

,b>Research to save - Face it, in order to find a good deal, you have to take the time to research it. When you are looking for a lower bank interest rate, why not try the internet. Websites like Google.com offer great searches that can compare the interest rates between different banks. This is a great tool to use if you are looking for a new bank, or if you would just like to see if your bank can match what another bank advertises. Aside from google.com, you can also look into the following sites for this type of information: www.cannex.com.au/ , www.ratecity.com.au/ , and www.infochoice.com.au

Repay the largest amounts first -It’s always better to work on the largest amounts first. Because they are the biggest, they are also the scariest. Also remember that because they have the highest balance, they will have the highest interest incurring as well, so it’s better to pay those off faster than the smaller balances that won’t gather as much interest.

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Filed under Bank Saving, Credit Card Saving |