Martin Lewis warns anyone with a credit card should check their balance immediately
Money Saving Expert Martin Lewis has warned anyone with a credit card to check it immediately. He has issued his warning ahead of a change to interest rates that will kick in tomorrow.
This is because if the cost of borrowing gets more expensive, banks will offer less competitive deals. With this in mind, Martin has urged anyone who already has credit card debt to check if they can save thousands of pounds now by applying for a balance transfer card. “A 0% balance transfer is where you get a new card to repay debt on other credit or store cards for you, so you owe it instead but at 0%. As your repayments clear the debt itself rather than cover the interest, you get debt-free much quicker ...”
If you think a 0% balance transfer card could work for you, use an eligibility calculator first to check which ones you are likely to be approved for.
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