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How to save money in Spain

How to save money in Spain, and how to find ways to save money online. Saving money is something that we are all a bit interested in. Find out how you can stop losing money on foreign exchage and currency rates and save money on foreign exchange rates instead. Find out how you can save money by an expat financial review. Learn more about expat health insurance and how you can save money on every day living expenses in Spain. You may even be able to save money on tax, and make the most out of your UK pension

How to Save Money with Balance Transfers on Credit Cards: 6 Top Tips for Credit Card 0% Balance Transfers
21 August 2017 @ 13:17

Life is very expensive, and many resort to store and credit cards to pay for treats like holidays, and clothes. The only problem is that interest rates on credit and store cards can be excessive, and to clear the debt as soon as possible is vital. If you have a good credit score, you can transfer your debt to a credit card which does not charge you interest. This mean you will be able to clear the debt quicker. However, there are a couple of things you need to be aware of when you take out a balance transfer card deal.

The Cost Of Transferring the Debt

Nearly all balance transfer cards will charge you a small fee for transferring the debt, so before you sign up for any deals, make sure that you check out any associated fees. Some of the cards which will let you pay the debt off for a longer time, will charge you a bigger fee. Make sure the card you pick is right for you. If you don't think that you can pay off the deb quickly, go for one of the cards with the longer repayment period.

Pay The Debt Off Quickly

When you have successfully transferred the debt, you want to pay the debt off as quickly as possible. Of course, you can always shift the debt again, but it may effect your credit score, and having a healthy credit store is essential for all of us these days.

Try to pay off the debt before the 0% rate ends as normally by the end of that period, the interest rate of the cad sky rockets, and you really don't want to have to pay any unnecessary interest.

Pay At Least the Minimum Amount

Your 0% balance credit card is likely to have a few terms and conditions. Most of them require you to pay the minimum amount every month, and the payment must be in on time. If you cannot meet those requirements, you are likely to lose your 0% balance making the balance transfer pointless in the first place. Check out how much you are spending on other things, and perhaps cut back on some expenses. Going out for coffee a couple of times everyday, can quickly add up, and if you can save an extra 5 per day, you will end up another 150 towards your monthly repayment.

How to Find the Right Card for You

Most of the sites which offer cards with 0% balance transfer rates, have their own debt calculators. They are very useful when it comes to checking out which card is right for you. It also gives you a goal. By putting in how much you can afford to pay every month, will motivate you to pay the balance off quickly. There are also a couple of comparison sites which you want to check out, and you never know, even you local bank may want to help you. Too few of us treat our banks like the businesses they are, and we should all be making the most of what banks have to offer us. After all, they are quick enough to make money out of you.

Your Credit History and 0% Balance Transfer Credit Cards

If you credit history is not as great as you want it to be, you may find the card company offers you a shorter repayment period. You need to make sure that you actually get what you think you are going to get. The card company, or bank, may be offering a 20 month repayment period on their website, but when you actually get an offer or read the small print, you may find you will get a shorter repayment period. The repayment period is almost always affected by your credit history, so it is vital to make sure you know what you are getting.

Do You Always Need to Get a New Card ?

Yo don't always need to get a new card, or cards. Having more than one credit card is not that unusual, and you may find that you can spread the balance over several card. This means the interest on the debt could be less, but this is a bit of a gamble to be honest. It can save you 100's, but you really need to check out the terms and conditions of your cards.

Not only that, do call your credit card company. The world of finance is very competitive and your current company would probably hate to lose you. You may even find that they have another card deal to offer you, or could perhaps give you an interest free period to pay your card. This is not so uncommon if you have your credit card facility through your bank. Your bank will know your credit history better than any other company, so don't forget to speak to your bank. Set up a monthly repayment so you know you have to have the debt paid within the agreed time frame.


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briando55 said:
24 August 2017 @ 08:56

Also when you have selected a card and teansferred a balance, look at the way the card can be used for any further purchases.

If you use the card (in some cases) the new use can be trapped behind any 0% balance at a higher interest rate and you can't pay it until the lower rate money is paid off. Very crafty but watch out for it.

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