Compare Debt Consolidation Credit Cards

Compare debt consolidation credit cards

If you have existing credit card debt, compare credit cards now and see what 0% balance transfer offers are available and you could find a way forward that gives you a way out of credit card debt, maybe via the magic of a 0% balance transfer offer. But be careful, as 0% balance transfer offers don't last for ever and are not a magic solution to a debt free life! Neither is it necessarily free of charge to transfer your credit card balance to a 0% balance transfer credit card. There might be a 2.75%, or more, fee. For instance, if you transfer an existing total credit card balance of £5000 to a 0% balance transfer offer credit card would cost £137.50.

Is another credit card really a potential answer for consolidating credit card debt?

Depending on your existing arrangements and credit card offers currently on the market, you may well be able to make savings, even after taking into consideration any balance transfer fee. Assuming you have accrued debt on more than one credit card, you need to check that the 0% balance transfer credit card offer you are considering allows you to transfer the outstanding balance from more than one credit card. Either way, a 0% balance transfer credit card offer is never going to be anything more than a temporary solution to debt. It could give you as long as a 15 or 18 month reprieve, in which time you could get your financial affairs a little more in order without worrying about interest payments making your existing credit card borrowing extremely expensive.

Will I be able to consolidate credit card bills?

The success of any credit card application is going to partly depend on your credit report for success or failure. It's a good idea to be aware of what information credit card companies will be referring to when they receive your application and with it your authorisation to access your credit report. If there's inaccurate or out of date information on your credit report, which you can uncover yourself now by using Experian's CreditExpert service. Arranged to have anything that's not right corrected and you could find yourself looking more attractive to credit card companies who could help you consolidate credit card debt and get lower bills.

Bills that remain unpaid can result in default notices that appear on your credit report. Lenders want to ensure the products that have the best interest rates, such as the credit card with the longest 0% balance transfer offer, or the best debt consolidation credit card, are made available to creditworthy customers. If you use LowerMyBills to help you pay lower bills now, your own money could go further and make it easier to ensure you don’t miss payments and fall into default.

Lower your credit card bills today by consolidating credit card debt. Compare credit cards now!

Experian® - the company behind LowerMyBills – also provides CreditExpert, which gives you access to your credit report and score enabling you to see what lenders see about you when they make a decision about which financial products or services are available to you.

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