Instead, get free, one-on-one debt counselling help from the non-profit agencies uk, or uk; or, if you’re struggling emotionally too, The most frequent comment I hear from people who’ve used them is: “I finally got a good night’s sleep.” Longest 0pc deals Martin Lewis is a specialist broadcaster and journalist who created Money Saving
When you have that much credit card debt, it’s costing you a huge amount of interest and fees to carry that debt every single month.
This is called snowballing, and will get you debt-free far quicker. But if you’re struggling to meet even your minimum repayments, or you have non-mortgage debts bigger than a year’s salary, or are feeling panicked and worried – then you’re likely to be in debt crisis.
If so, ignore the above tips, they’re not right for you.
However, the Virgin card lets you do a money transfer, where instead of paying off another card it simply pays cash into your bank account, meaning you can shift overdraft debts to it at 26 months: 0pc for a one-off 4pc fee (for normal transfers it’s 2.99pc, meaning you can use it for both).
Forget to repay in a month, or do it late, and you risk losing any 0pc deals, being fined or getting a hit on your credit score.
I suspect it’s the growing use of this “rate for risk” pricing that is partly responsible for such super-long deals now.
Then once that’s clear, shift your focus to the second costliest, and so on. Chargeback protection covers you in certain instances for purchases made with your credit card. We’ll help you work out how much credit you can afford, what interest, fees and charges you can expect, how to compare and get the best offer, and what to do if you’re struggling with your debt.With a balance transfer deal, you get a new credit card and it repays the debts on your existing credit and store cards for you, so you now owe money to the new card instead.The debt is shifted to the new card, hopefully at a cheaper rate.