Advice for 2008 comes from Sainsburys Bank as they recommend everyone has a thorough review of their financial position and looks around for better credit card options.
Following the Christmas period credit cards are often stretched as purchases made on them begin to appear on card statements, often placing customers in difficult positions as they try and juggle their income and expenditure. Taking best advantage of new card deals is what Sainsburys Bank recommends, aiming to find reduced interest rates or even zero percent offers for transfers.
As a nation UK adults spent almost GBP160 billion on credit cards in 2006, with the 2007 figure likely to be even more once all the figures have been reviewed. Just reducing the interest rate by a small amount could transform the amount owing on large amounts of borrowing and so should not be ignored say Sainsburys Bank.