When it comes to paying off high interest debt and if you own your home and have equity in it, you have a choice when it comes to combining those debts. A visit to credit cards UK might help you to make that decision. The first choice is to take out that equity loan and is often preferred by many as it is in many cases tax deductible and carries a low interest rate. This can reduce high interest credit card debt by allowing you to have a loan with a much better interest rate.
But, the other option is 0% balance transfers, which when manged properly can often provide yoou with a better option if your credit is good and you are good at paying your bills on time and willing to make more than the minimum payments. One common method is to transfer debt from high interest loans to zero interest cards, and after the introductory period transfer them again allowing you to quickly pay down balances.
Like any system it carries some risk, and if you miss a payment or are late the interest rate could quickly become something above 20%. Study your options before giving this a try and make sure you are comfortable with your choices. If you aren't sure you can get more information and credit card news at credit cards UK. Always study your options before making a decision.
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1 comment:
Do UK credit cards you offer, for US as well?
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