Balance transfer credit cards 'could help consumers stay afloat'
Consumers struggling to "stay afloat" financially should consider balance transfer credit cards as a way of managing their debts, it has been claimed.
According to Fairinvestment.co.uk, a zero per cent balance transfer credit card could provide consumers with the respite they need from interest rates, allowing them to make inroads into paying off what they owe.The personal finance website also advises consumers not to be tempted by deals on new cards coming through the door, as making additional purchases while still paying for old ones could land them in financial trouble.
Daniela Gieseler, a spokesperson for Fairinvestment.co.uk, said it is important that credit card holders check their bills and statements regularly and make use of internet banking to keep on top of their finances.
Writing for MSN Money, Jessica Brown from moneysupermarket.com said that despite the credit crunch, there are still some good deals to be found on balance transfer credit cards.
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