Credit cards are really flexible and easy to use, you can buy for goods on-line and take advantage of new year sales. If you pay the balance off each month credit cards are cheap to use. But as the money advice service highlights, the interest rate on balances is typically really high and if people are only making the minimum payment – the interest over a year can add up really fast.
If you have the funds in your bank account, setting up a direct debit to pay off the credit card balance each month will help you avoid those high interest costs.
But if you don’t have the funds to pay off the balance at once? We can help with a loan – typically at lower interest rates – which could help you get out of credit card debt. Combine that with a monthly direct debit too ensure your credit card doesn’t build up new sums – and you have put your finances on a much better footing for the new year.
So if you want to start your new year by paying off high cost debt – speak to us about a member loan to clear and say goodbye to high interest rates.