Opened 4 months ago

#1910 new bug

Will my credit card debt cost more?

Reported by: anonymous Owned by: srkline
Priority: major Milestone:
Component: All Components Keywords:
Cc: Blocking:
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Description

Will my credit card debt cost more?

https://ichef.bbci.co.uk/live-experience/cps/624/cpsprodpb/vivo/live/images/2022/8/5/3ff2b73f-ffee-4944-8d41-fefa76ad959b.jpg

Last question now, coming from Aaron in Londonderry, who asked Money Saving Expert's Gareth Shaw:

Unenforced play is to play SLOTXO on the middle line. This game has different modes for us to win big, and it may be the only game in online casinos. With special assistants, reward a lot of games.

What does interest rates going up mean for the price of my borrowing? I have an outstanding balance on my credit card, which I'm only able to pay off slowly due to the rising cost of living. Does this mean I will end up paying more?

It really depends on the terms of your credit card.

Some credit card providers are pretty explicit that their interest rates will be tied to the Bank of England base rate. Others do not tie it to the Bank of England base rate.

There are products out there that can help you minimise the amount of interest that you pay on credit card debt. They're called 0% balance transfer credit cards.

If you're paying interest on your credit card debt you cannot afford not to look at these types of cards because your repayments are currently paying off interest and debt.

When you shift your debt to a 0% balance transfer credit card, all of your repayments are reducing your debt.

There are ways to find out if you're eligible before you apply.

I would strongly suggest looking at those.

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