0% Credit Cards in the UK
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Brand
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Are there any personal stories? |
What happens when you have transferred the balance to a 0% credit card and the 0% time is expired? You have some choices. One is to call and ask for an extension. There have been several stories of people who just called their credit card company and got a 0% extension, one got the extension for another full year, making the total time of their 0% 2 years! The credit card involved was LTSB. According to several sources, this is not uncommon. So, it does pay to ask. What about opening up a new 0% account? Several people have found that they could actually open up and transfer accounts at the same bank. The key to getting extensions at 0% is to call the customer relations department. If you tell them you are going to get another card elsewhere and transfer the money they are likely to try to keep you by making an offer. One piece of advice is to know what deal you will settle for before making the phone call. They are apt to offer you something and unless you are aware of your other options, you won’t know if that’s a good deal or not. People
have gotten into trouble using 0% cards. The problem usually comes in
when they overspend. A couple
just finally got their credit back on track after a bad situation with
a 0% card. They started charging
on the card since it was at 0% interest. However, they ended up with a huge balance at the end of the
0% period and could not pay off the balance.
They ended up taking yet another 0% card to get them out of this
mess. That is wreaking havoc
on their credit score. Until they pay the balance down, they won’t get
their credit rating back up. They advise to
always leave the card at home. They
have now taken the advice of a financial planner who told them to freeze
their card. He meant to actually put it in the freezer!
Put your credit card into a small tub or baggie of water and put
into your freezer. If you
need the card, you will be able to thaw it and use it, but the thaw time
gives you time to think about what you were going to use it for and make
sure it’s something you need. A word of caution, though, don’t thaw it
in the microwave because the metal strip won’t work.
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Kinds of Cards |
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Copyright 2008 0% Credit Cards UK Guide Articles
By Kate Spencer. All rights reserved |
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