IF you've racked up debt over the Christmas period and need to clear it, Santander's balance transfer card with no fee is a cheap option. Although lenders have slashed their 0 per cent promotions on such cards by up to a third recently, there are still several interest-free balance cards with no fees on offer. The Sun has had a look at the current cards on the market, and the cheapest option available right now is Santander's Everyday Credit Card. It allows users fee-free balance transfers for 27 months, before it increases to a typical annual percentage rate (APR) of 18.9 per cent. If you don’t manage to clear your debt in full, you can simply shift to another fee-free card when the offer expires. And even if there isn’t one on the market at that time, you can be pretty sure that any fee you pay will be far smaller because your balance is much lower too. The second cheapest available is Sainsbury's Bank No Balance Transfer Fee card, which comes with a fee-free balance … [Read more...] about Santander offers 27 month balance transfer card with no fee to help you clear debts
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MONEY Saving Expert Martin Lewis has shared some tips about tackling your credit card fees. By Christine Younan/Published 17th December 2018 MONEY SAVING EXPERT: Martin Lewis revealed information about credit card fees (Pic: GETTY) Christmas is an expensive time of the year, with Brits looking for many ways to save money.Many people will use credit cards to help pay for all the food and presents over the festive period, and now Martin Lewis has revealed how you can cut your credit card debt and save hundreds.Posting on MoneySavingExpert, the 46-year-old claims if you’ve got an outstanding credit card debt, cutting the interest means your repayments clear the actual debt.And the key thing you can do to achieve this is a 0% balance transfer, where you get a new card to pay off existing cards. So you still owe, but interest free. Related Articles Tesco launches 50% off toys for Christmas – here are the best deals Money Saving Expert Martin Lewis reveals how to boost your … [Read more...] about Money Saving Expert Martin Lewis reveals how to save HUNDREDS on your credit card debt
SAINSBURY'S BANK credit card customers should check their statements now after a bungled direct debit change caused some users to be hit with late payment fees. Back in July, Sainsbury's Bank enabled credit card customers to make changes to their direct debits online for the first time. Previously, any changes to direct debits - such as the amount paid - could only be made by Sainsbury's Bank staff over the phone. But Sainsbury's didn't make it clear to customers that when they change their direct debit amount, it automatically cancels their existing direct debit - leaving a month where no payment is taken. For example, if your direct debit was due to be taken tomorrow - September 22 - but you changed the direct debit amount today, the next payment would be taken on October 22. This means your September 22 direct debit is missed and you're slapped with a late payment fee. How to complainWHEN your bank or credit card provider does something wrong, you should complain. First, you need … [Read more...] about Sainsbury’s Bank credit cards customers hit with fees after direct debit bungle – are you affected?
THE changing credit market is bad news for borrowers who depend on interest-free ways to repay their credit card debts. According to Moneyfacts’ quarterly UK Credit Card Trends Treasury Report, the number of interest-free balance transfer deals has fallen to its lowest level on record – down to 87 from 101 in June - while the amount of introductory interest-free purchase cards has fallen as well. Meanwhile, the length of interest-free balance transfer offers has decreased. At the same time, the cost of making a balance transfer has increased, with the average introductory balance transfer fee hitting 2.20 per cent this month – up from 2.04 per cent in January. This is all worrying for people who rely on switching their debts from one interest-free deal to another, as it means they’ll now have less time to repay their debt before interest applies. This also means it will take longer and cost them more. And it could get worse too. How to pay off large amounts of … [Read more...] about Warning for credit card customers with large debts as lenders slash balance transfers and increase fees
EXPERIAN is set to launch a new online tool, which means you'll be able to see the real interest rates that some credit card lenders are offering before you apply. At the moment, credit card providers only have to give 51% of their customers the representative APR that they advertise. The remaining 49% could be offered a higher rate, which they won't find out until they've completed an application, according to the credit reference agency. But with the new comparison service, Experian says users will be able to see the actual interest rate they will be charged before they apply. The new price comparison feature, which will be free to use, is set to launch over the next couple of months. Experian has said that customers should look for a "star" next to the price comparison results , which means they will be offered the advertised rate. How to apply for a credit cardHERE's what to consider when applying for a credit card. Figure out what sort of card you need - There are several … [Read more...] about You can find out what interest rate you’ll be charged on a credit card with a new online tool