Credit card customers making minimum repayments could have cards suspended next month due to new rules
STRUGGLING Brits could have their credit cards suspended next month due to new rules by the financial regulator.
If you have money left over, plan in advance what else you’ll spend or save. If you don’t, look at ways to cut your costsIf you’ve got credit card debts aim to pay off more than the minimum amount on your credit card each month to bring down your bill quickerIf you have more than one credit card and can’t pay them off in full each month, prioritise the most expensive card - If you’ve got several debts and you can’t afford to pay them all it’s important to prioritise them.
This is usually between three and four years and may involve transferring the credit card balance to a lower-interest personal loan. The Sun has asked the UK's major banks and credit card providers what actions they're taking and when these will begin.
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