NewFiscal Financial News » Debt Repayment http://www.newfiscal.com World News Tue, 24 Aug 2010 06:38:54 +0000 http://wordpress.org/?v=2.8.6 en hourly 1 Traps to Be Avoided by Consumers of UK Credit Cards http://www.newfiscal.com/traps-to-be-avoided-by-consumers-of-uk-credit-cards/ http://www.newfiscal.com/traps-to-be-avoided-by-consumers-of-uk-credit-cards/#comments Tue, 28 Jul 2009 21:07:59 +0000 admin http://www.newfiscal.com/?p=30 uk5There are plenty of credit card offers in the UK, be it by mail or over the phone. Everybody will be offering so many discounts and specially, high street cards offer an instant discount of 10% if you sign the dotted line the same day. But you must be very careful in choosing the right credit card for you. At the time of applying for the credit card, they try to sell the concept that actually you will not have to pay any money while buying. But the matter is not disclosed that you will have to pay one month later when the credit card bill comes.

Credit card companies never make their plan based on the fact that you can make good budgeting. They want you to make the minimum payment due and thus they can earn a lot of interest on the unpaid amount and earn a lot of money. If you use your credit card wisely, you can avoid the debt trap. You should always take balance transfer offers for the maximum interest free period so that you can pay the debt without any interest in the stipulated time. If you do not within the time frame, they may charge an interest rate as high as 24 per cent.

There are lots of UK credit cards on offer so make sure that you take the card that has the best benfits for you.

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