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Put your credit card debt into a loan

Its quite a normal act for people in theto carry on paying off credit card bills, or not which incurs charges, without thinking sensibly about the options. We tend to bury our heads in the sand when it comes to finding a better option. The work involved in researching the best rates and the process of filling out forms, added to the worry of not being able to actually be accepted for a loan.

A few years ago when I let university I had no money and wasn’t working, but the rent still needed to be paid and so did the bills. I used to draw hundreds of pounds from one of my 3 credit cards and it got to the point where I thought I was literally going to bankrupt myself. I went around the houses to every other bank rather than going straight to my own, no one could help, so I bit the bullet and talked to my bank. They wanted to help and they could help. It seems that we think if we get into trouble, your own bank will act like your parents and tell you off, the reality is they want to help. So, thankfully they accepted me for a Graduate loan which paid off all of my credit cards at the time. The only downside to this is that 6 years later I am still paying off that loan. That is what comes from taking out a huge amount of money. Today I literally have one loan, and one credit card. The Credit Card is for emergencies only, I never use it, I also on the odd occasion look around for another loan, I could get a lower rate, but again, can I be bothered with all the hassel? Those savvy types who are shrewd with their money will always be on top of percentage rates and place their money in the lowest possible rates or the highest when it comes to savings interest.

My advice is to reconsider your credit cards and loans. Some Credit Cards are as high as 16.9% which is ridiculous, there are non secured loans you can take out to combat these high interest rates. Take a look at money saving expert, you’ll find loans as low as 6.6% and a range of the best loans and credit cards.

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