If you're one of the millions paying interest on your credit card each month, you could save hundreds - if not thousands - of pounds.
It only takes a few minutes Listen to article Listen to article Your browser does not support the audio element. If you’re one of the millions of Brits who have a credit card, you could be pouring hundreds – if not thousands – of pounds, down the drain. But a quick balance transfer could help you clear your debt faster and save money in the process. New research from TotallyMoney revealed that half of credit card customers are currently paying interest on their balances every month.
The average saving with Tesco Bank is £1,675, but Alastair also notes that it comes with 0% interest on further money transfers for nine months, ‘which you could use to clear expensive overdraft debt.’ Barclaycard’s 33-month deal comes with a slightly higher fee of 3.45%, meaning a typical customer could save £1,671. But, for those who want to skip fees entirely, the bank has a 14-month fee-free balance transfer card too, allowing successful applicants to save an estimated £753.
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