New year advice recommends balance transfers
New advice has been offered on how best to survive the recession in the early part of 2009, with one tip being to consider transferring your credit card balance.
In an article for the Mirror this week, it is noted signs are indicating that the coming months could prove more difficult for some - but by making the right decisions now consumers could make things easier for themselves.
The newspaper suggests credit card balance transfers for those able to find a more favourable rate and adds that when interest-free accounts are available, a loan could be used to clear existing debts.
Also recommended is using direct debits wherever possible, because many companies provide incentives that could save you even more money.
"[A direct debit] helps you keep track of spending and many utility providers offer a discount. Some will also offer small savings if you opt for paperless billing," it concludes.
Last month, head of credit cards at Abbey Callum Gibson said that the new year was "an ideal time" for consumers to consider the benefits of balance transfers to zero per cent credit cards.
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