Rate-Jacking: How To Beat Credit Card Interest Rises

Have you been on the receiving end of a rate-jacking bombshell? It’s hard enough finding the money to pay back your credit card debt and unwanted interest hikes don’t help. What is rate-jacking and how can you stop the increases to your credit card interest rates?

Rate-jacking explained

What is rate-jacking? Quite simply, it’s an increase in the interest you pay on your credit cards. The increases vary from company to company but some card holders have been hit with hikes as large as 10%. Continue reading

How To Bury Your Debt With A Credit Card And A Childs Shovel

Drifting in and out of debt is no fun. Time to give your money woes a slap and get your life in order.

Bury you debt with a beach spade

Sure as eggs are eggs, one day planet Earth will get hit by a meteorite in a divine game of snooker. The end result will be the extinction of man (and just about every other species that walks, crawls and swims). Until then, there will be credit cards and debt. Today we’re going to look at some of ways you can bury your debt with a little help from your lender.

Cash back credit cards have long been touted as a great way to earn some money from your lender. The problem is that much of the advice normally involves stacking up more and more debt on your card. Let’s give the knife a little twist and find some new ways to spend without really spending! Continue reading

Mistakes You Can Make In Your Debt Elimination Plan

It’s the last day in this series of how to eliminate credit card debt . Today we’ll be looking at the pitfalls and mistakes some people make as they attempt to get your finances back in order.

So far, we’ve covered off some ideas like snowballing debt and ways to make money which can then be used to help you pay off your cards even faster. Now you have a formidable arsenal at your disposal. What could go wrong? Continue reading

Ways to Make Extra Money to Eliminate Your Debt

Day 4 of our week-long series on how to eliminate debt. Today we’re going to look at simple ways to make some extra money that can be used to chip away at your debt.

In the article on snowballing debt I gave you an example of how as little as £50 extra every month could save you time and money off your repayment schedule. £50 may actually be a lot of money for some of you. Don’t panic. There are plenty of ways to make a little cash on the side and it’s a lot easier than you think. Continue reading

How To Reduce Credit Card Interest

The Average Credit Card Interest Rate…

…currently stands at a 16.75%. Not as bad as you thought? Don’t let that deceive you. The range of credit card rates goes from 0% right up to a massive 40%. In the vanguard of this financial minefield are the store cards so many of us cling to.

Before you start to reduce the interest rates on your credit cards you first need to know how much you’re paying. All the information you need should be on your credit card statements. If not and you have an online banking facility then login and check the details there. Continue reading

Credits Cards: Do Credit Cards Make Us Feel Better?

Credit cards are everywhere; from the standard card through to the store card, it seems like there’s a never ending supply of fast credit waiting for us. But have you ever thought about why you want it? Is it really access to quick money? We all know that the interest levles applied on pretty much any given card are sky high (even with interest rates at an all time low). So why do we keep coming back for more of the same punishment? Continue reading

Advice for credit card debt consolidation

Do you have a lot of credit cards that you need to pay off? This is not a problem of a single person but everyone. You need to manage you debts in such a way that you don’t have to take any professional help. How? You may ask. But if you rack your brains a bit, you’ll surely get a lot of self-help ways to pay off credit cards and have a good credit report. Balance transfer method is one of the most important parts of your credit card debt consolidation. Continue reading