It’s a really good time of year if you have credit cards to be a credit card tart!
Ok let’s be honest it’s best if you don’t have them at all, but if you are like me (I still owe from when I was a student). Now is a good time to look for balance transfers with interest free introductions.
Just for example My UNISON credit card with Bank of Scotland just wrote to me saying my interest was going up from my introductory off of 0.46% to over 25% as they has noticed a change in my circumstances and as a responsible lender they thought this was in my best interests!
I don’t think so…and no there had been no change in my circumstances nor had I failed at anytime to pay my bill!
The choices they gave were to cancel my card and stay on the same rate or do nothing and be put on this quite frankly outrageous per cent!
I cancelled the card and am on the same rate until it is paid off.
But this terrible behaviour from Bank of Scotland made me look at other credit loans I have. I managed to switch all my credit cards to one very low loan rate (valid until the loans are paid off). I worked out in total this will save me £4567 over the whole of my loans.
So go on and look at the interest rates, there is sure to be a better deal out there!
Become a card tart!
Better still don’t get yourself in credit card debt only the banks will win!