Credit cards are not as cheap as they used to be and they’re not as easy to come by either. However, if you can get one then a good way to make your debts cheaper is to switch to a cheaper credit card, especially one that offers a period of zero percent interest for a balance transfer. This can be especially welcome after a Christmas spending spree when you receive your credit card bills and they’re higher than anticipated.
Things to watch out for are obviously the zero percent periods, but also the transfer fee and minimum payment. It is always wise not to make purchases on a card to which you have transferred a balance as your payments go towards the transferred balance first, leaving you to pay interest on your purchases as long as you have any balance remaining.
The word is that the number of credit cards has reduced and that the banks are tightening criteria for obtaining a credit card. However, offers still arrive on people’s door steps. In these days of economic strife, you need to take care with such offers.
Consider the real reasons that you want a credit card.
Do you want to transfer a balance?
Do you want interest free purchases?
Do you want discounts and deals that come with many cards?
Do you want a low interest rate on the card because you know you won’t be able to pay your balance off in full, and you really do need some credit?
Armed with your real reasons for wanting a credit card, you can then begin your search. Go on the internet and look for good comparison sites. Try more than one; not all cards are featured on all comparison sites. But lose sight of your reasons! Don’t be attracted by other offers that aren’t really important to you!