Finding Methods To Help Out Your Debt Situation

By Chris Channing

When things feel very tough and your financial situation starts to tense up, it is important that you start examining your debt help methods that are available to you where you live and for your situation. So many people neglect their debt problem, and fail to realize that help is out there; and it is not hard to find. With the economy on the verge of a serious recession more and more people are falling into debt related problems. Debt help can flip your situation around, and change your financial life.

Begin by collecting all of the things that you owe, car loans, credit cards, loans for various things, even include debt to friends or family if there is any. Knowing what you owe is the first step in preparing yourself for finding the best debt help methods out there.

Calculate all that you owe, down to the cent. Find out how long it will take you to pay off your debts, the interests you are paying and any adjustments you may need to make to get this paid off. Don't be shocked by a large amount if you owe a lot, if you lose track of your finances you can get into worse debt.

The first debt help method you should check out is negotiating with your credit card companies. If you owe say, $2000 to one company including interest, they can be talked into giving you lower interest rates or lowering the amount you owe all together. This is often considered a negotiation or a settlement, an easy to achieve debt help method.

If you have little luck using the contacting creditors method, you need to start looking into what is available for you in terms of debt consolidation. Consider your debt consolidation options carefully and never get yourself into a contract where you will end up paying back more than what you currently owe.

Debt help methods are far and wide, with things ranging from debt consolidation loans to bankruptcy. No one wants to be in debt for any reason, but when it happens it is good to know the options that are available for you, as well as the ways you can fix the problems that have arisen.

Closing Comments

Debt help methods can be found everywhere that you are willing to look. Getting an effective debt help program may take a while to find and set in motion, but it is possible.

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Using A Fixed Rate Mortgage To Better Benefit Your Finances

By Chris Channing

Fixed rate mortgages are essentially a mortgage that stays at the same rate over the course of the contract. This can be from 5 to 30 or more years, and the rate can be pretty low too. Fixed rate mortgages are extremely beneficial, especially if you live in an area that has constantly fluctuating interest rates.

Imagine if you had a mortgage that was valued at $100,000, and the interest rate was around 5%. A year later, it could go up to 7%, or even 8%. Interest rates can be very unreliable, and change more often than the weather. Its not any fun to worry about the interest fluctuating so heavily, so if at all possible, a fixed rate mortgage is the best option for your financial situation.

With a fixed rate mortgage you can plan your future in depth, and make sure that you have enough to cover certain expenses. Not many things are certain, but a fixed rate mortgage is certain to never change. If you worry about keeping your finances organized, then a fixed rate mortgage can help.

If you already have a mortgage loan, then it is increasingly possible for you to change your loan to be a fixed rate mortgage. You have to apply though, and you must meet the eligibility factors that are involved. Not everyone will be approved to change their mortgage to a fixed rate one. If you have a fixed rate mortgage, but the interest has recently lowered; then you can refinance and switch to the lower interest rate.

Fixed rate mortgages are beneficial for everyone that is interested in taking out a mortgage on their home, or applying for another mortgage. If the interest goes up, then you luck out and only pay the lower interest rate. This lower rate can save you tons of money over the course of your loan. The borrower and the lender both get benefits too, so everyone wins.

In the event that you did not have a fixed rate mortgage, and the mortgage interest rose dramatically, there is the chance that you would end up not being able to pay. In that case, your home is up for foreclosure, and you could lose your home. A fixed rate mortgage is a simple solution to those surprising interest hikes, and a way to protect your money and financial life.

Closing Comments

Fixed rate mortgages can do more than save you money on interest, you can also plan things farther in advanced and be more prepared.

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How Auto Insurance And Auto Loans Work To Save Money

By Chris Channing

Choosing a car is a difficult process. It could take a lot of time to figure out the vehicle that you want to drive, and then finding insurance for that is even harder. Many people cannot afford a brand new vehicle, so they rely on an auto loan versus paying in cash or with a check. Surprisingly, a car loan can actually save you tons of money on your car insurance in some very surprising ways!

Consider this for a minute, if you were to get a car loan for the cost of a new car, or a lightly used car, you would be able to get a much better vehicle than if you were to pay in full cash. A better and newer car could mean a lot of things. You can get a more fuel efficient option, one that has more safety features included, and a car that is not likely to break down due to having too many miles recorded on it. These factors are very important when getting a vehicle.

If you have great credit, then good for you! An auto loan will come cheap for you, and the low interest rates make it easier for you to get a higher loan for a nice vehicle. There are tons of places to get auto loans from, so choose which place has the best options for your needs. Many car lots have lenders that are associated with them, and many also require you to use those associated lenders. With so many options available to you as the consumer, you can pretty much pick and choose what you want.

After the basic choices are settled; such as where you want to get your loan from and where you want to purchase a car, you can start calling insurance companies. Thousands upon thousands of people do not do this very simple thing. Calling insurance companies to get quotes on your future vehicle is a great way to save tons of money in the long run, plus figure out what your budget can accommodate for. Every company has a different offer, so make the most of it and call all of them!

Auto loans usually require you to purchase full coverage car insurance. This is a pricey thing, but it is super easy to lower that cost! Having a good driving record as well as a cheap to insure vehicle is a great way to save hundreds each year on auto insurance. When combined with a low interest loan, you save even more!

Overall, if you use an auto loan to purchase a car, you can afford a much better vehicle option. A better vehicle equals lower insurance. Quality cars are likely to be safe, more fuel efficient, and cheaper to fix if they ever need fixing. This translate to auto insurance companies preferring to have you pay less. Plus, you can get a higher deductible, which will further lower your auto insurance payments.

Closing Comments

Car loans and car insurance should be planned ahead of time so that you are able to get the best offers.

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Why Choosing A Eco-Friendly Car Can Save Money

By Chris Channing

Hybrids are those cool new cars that are half electric and half super fuel efficient gas conserving machines. They are hot trend items right now, and everyone from famous stars to your average neighbor is catching on. The eco-friendly virus has spread, and more people are purchasing hybrids than ever before. Even in a weak economy, they are popular and cheap enough for people who need a new vehicle to purchase.

Simply enough, eco friendly cars are mainly popular because of all of the famous people that drive them. Even though more and more people are becoming eco-conscious, many do not know all of the facts; or even all of the benefits of owning one. Auto insurance companies are also catching on, and offering ridiculously amazing discounts for those that own a hybrid or otherwise eco-friendly vehicle.

Eco cars are also cheaper. Small ones cost as little as 10k, and used ones can be even cheaper. They also last longer, and are much more durable than you would think possible. They are most definitely cheaper than not so fuel efficient luxury cars, and safer than fast sports cars. These simple things make your hybrid much more favored over another type of vehicle.

On top of those great benefits, green cars, or environmentally friendly vehicles, may be a better investment in the long run. Since eco cars are much cheaper, your auto loan will also be much cheaper. Auto loans can range from a couple thousand dollars, to ten thousand and up. An auto loan for a nice eco friendly vehicle will likely cost you much less over the course of your loan repayment period.

Not to mention, it is possible to get a tax cut when you purchase a eco-friendly car, or get a car loan for one. Those are some serious benefits to consider if you have always wanted a hybrid vehicle! Plus, there are more options available in a hybrid model, so you can still get an environmentally friendly SUV, or a compact car!

It is always advised that you shop around. Different auto insurance companies will offer different discounts, rates, and benefits for the eco-conscious driver. It wouldn't be a surprise if you were able to get auto insurance for practically nothing.

Closing Comments

Environmentally friendly cars are the thing to buy, and you save so much in the most surprising of ways!

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Using Debt Consolidation Loans To Save Your Credit

By Chris Channing

Debt consolidation loans are one of the increasingly popular ways that consumers are saving their credit, and saving money on paying off debts. Debt consolidation is a fantastic way to solve your financial problems, and get yourself out of a financial crisis. Debt consolidation loans also improve your credit and keep your credit score from going even lower.

Home equity loan, or second mortgage, acts like a debt consolidation loan. These loans are getting a secured collateral with your home as the source for that collateral. Home equity loans are usually given out to those that have good credit, not so much to those that have very poor credit. Home equity loans as a debt consolidation are usually needed if you have to borrow a lot of money.

Personal loans often act as debt consolidation loans. Types of loans such as a secured low interest loan will could be your next debt consolidation loan. A debt consolidation loan is not a special type of loan in itself, its just that many different loans can be a form of debt consolidation.

If you owe a lot of money, you will definitely need a larger loan to accommodate for that. It doesn't make sense to get a larger loan for a small amount of debt. Debt consolidation loans are easy to get, and depending on your situation they can be even easier than expected.

Not taking care of your debts before problems start to get worse is a terrible way to go. Getting a debt consolidation loan at the "first sign of debt" can save you money in the long run, as well as preventing your credit from becoming even worse. Debt consolidation loans should be used carefully, and not with haste.

If you were to map out how much you would pay in total without a debt consolidation loan, you would probably be shocked at the price. Plus companies tend to increase interest the longer you wait to pay it all off. After that, compare it to a debt consolidation loan. Debt loans can definitely lower the time it would take to pay back, plus lower the interest. You could end up saving over $1000!

Closing Comments

Debt consolidation loans are a faster, more efficient way to pay off your debts, especially ones that are in excess. Debt consolidation payments are more expensive on a monthly basis but have lower interest as well as faster repayment.

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Debt Consolidation Options For Those With Low Income

By Chris Channing

You can have a negative experience when dealing with debt and have a low income source. You might have a number of reasons why you have a low income source and that can become problematic if you get yourself into high debt. You can get a debt consolidation loan to help manage your existing debt obligations.

You can use a debt consolidation loan to repay all of your debt and current loans to become obligated towards a single loan. This is beneficial to those who have more than one loan or debt to worry about, as it reduces your monthly payments along with creating a loan with low interest that can save you money in the long run. You can usually pocket whatever money you have left over every month and that can go towards saving or buying things you really need.

You can usually negotiate your repayment terms with the lender for a debt consolidation loan to fit your income requirements. A debt consolidation loan can be taken out by almost any individual, even if they have low income or bad credit. There are many reasons why a person might be in a low income situation, but that does not matter when dealing with a debt consolidation loan.

Getting a debt consolidation loan is relatively straight forward. Secured loans are much preferred over unsecured loans for debt consolidation. You will be limited in what you can borrow with an unsecured loan along with having higher interest rates. Secured loans are only limited by the type of collateral you use as security for your loan, but they usually have great low interest rates.

Your loan repayments will be easily completed when you negotiate well. Only being obligated to a single loan has its perks. Depending on your income, repaying the loan should not take long and you will still have money left over to save or use on something else each month.

One of the best ways to get a better interest rate and better terms towards your debt consolidation loan is positive credit scores. If you play your cards right a debt consolidation loan will raise your credit rating when you make repayments and keep your repayments on time.

Closing Comments

You can use debt consolidation loans to help manage your existing debts, even with a low income source. It is best to get a secured loan over an unsecured loan because of the difference in interest.

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How To Get Irresistibly Cheap Auto Loans That You Cant Pass Up

By Chris Channing

There is much planning involved when being eligible for a good auto loan is needed. Being irresponsible with your credit can be detrimental to your auto loan eligibility. Getting cheap auto loans are easy when you go for better cars that can help the environment. Cheap loans for automobiles can make even some deals irresistible.

First off, you should make sure that your credit is in good standing. No one likes to apply for an auto loan only to be denied or hit with a sky high offer. Make sure you have paid off any outstanding debts, and that your credit is reasonably good.

Another thing you can do to get a cheap auto loan, is find out the bluebook value of your current vehicle. It may be better to sell it privately, versus doing a trade in. If you can, sell your current vehicle for as much as you possibly can. This will put a decent amount in your pocket that you will not have to get an auto loan for. In return, the less you borrow, the less interest you pay, and the less your overall loan comes out to cost you.

Making sure to always stay up to date with the automobile and loan market will allow you to make a better choice for financing and loan options. The best companies will be willing to finance you with a cheap auto loan if you look hard enough.

You will not be approved for every auto loan you apply for, this is just plain economics and some companies will not see you as a source of income on their part. The kind of vehicle you choose also helps to determine your auto loan interest rate. Choosing a better vehicle is always better, especially if it fits your budget.

A cosigner might be able to lower the interest to a really low amount that can save you a ton of cash. There is always a great chance of getting a great deal on a car loan when you provide proof that you can repay the loan, having references that can vouch for you and having a good collateral for the loan.

Closing Comments

Doing your research allows you to find the best deals on cheap auto loans. Many deals are available when you look for a vehicle, the higher in demand the loan is the better the deals will get.

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Will the UK drop in base rate make any difference to the crisis?

By Chris Clare

At a meeting of the Bank Of England's monetary policy committee today the 6th of November 2008 the Bank decided to drop bank base rate by a whopping 1.5%. This level of reduction has never been seen before and the new bank base rate of 3% has not been seen in the United Kingdom since 1954.

The question is, will this help both ourselves and the economy, both in the short and long term. I am afraid that my answer to this would have to be no, I can't see it happening. The reason behind this is that the lenders will be unwilling to pass on the 1.5% to the public because they were unable to pass on the previous rate cut either. To put it into perspective, their standard variable rate is still at the level that it was more than 6 months ago, go figure.

The problem that most lending institutions have both here in the UK and around the globe is even though bank base rates have reduced the cost of funds from bank to bank has not fallen at the same rate. The rate at which financial institutions in the UK lend to each other is called the LIBOR rate which stands for the London inter-bank offered rate. Whilst LIBOR has come down very slightly over the last few months it is quite considerably out of sync with bank base rates. So even though money appears to be cheaper it is not.

In light of what is happening with the credit crunch, and also because lenders bad lending books have become transparent and public knowledge, public lenders have become reluctant to lend to one another. This nervousness amongst lenders is what affects the LIBOR rate. Everyone in the finance industry is all too aware at the moment of the bad lending decisions that have been made in recent times, and with credit risk being such a hot topic lenders just aren't prepared to take any more risks.

You would be forgiven for thinking that the cash inputs of various governments over the world may have gone some way to easing the crisis, but you would be sorely mistaken. For some reason there are rumours circulating that a condition of the cash injection is that lenders must lend a set percentage more next year than the previous one, and so they are preparing themselves for that eventuality, but this may only be rumour. What is for sure is that there is very little money about, and as such the rates are very poor.

In my opinion, what the decision of 6th November will do is up the confidence levels of the public. People will come to the natural conclusion that the lowering of base rates means there is light at the end of the tunnel. They will soon realise this isn't so when they see that their mortgage rates have not changed in line with the bank's new rate. The difference may be seen in commercial finance though. Most commercial rates are set at a level above the bank's base rate, so it may reach here.

Irrespective of that, a lot of commercial lenders have bumped up their over base rate level to preempt any new customers looking to borrow. Equally, some lenders have already withdrawn their base rate tracker level or increased it so as to eliminate any possible risk of losing more money. After such a huge single cut in rates, and looking at the action being taken, it makes you wonder if these lenders actually saw it coming!

So what effect are we looking at, if any? Well, to be frank, in the short term we are probably looking at very little change at all. But still we have to believe that over time the positive knock on effects of this drop in the base rate simply have to reach down to the people on the ground. Otherwise we are facing a very bleak financial future indeed.

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Mortgage Route gives assistance help and advice on mortgages from fully trained mortgage brokers along with no obligation mortgage calculators and sourcing tools.

Using A Cash Back Credit Card Correctly

By Chris Channing

Managing your money includes saving, investing, and finding the best deals. Its not always easy to save, but there are some things that do make it very easy; with results that really add up. Cash back credit cards are a form of credit card that offers cash back and reward options. After spending a certain amount on purchases for certain things you become eligible to receive cash back percentages as well as rewards. If you already buy the important things, like groceries, why not use a cash back credit card to maximize those savings?

Cash back credit cards come in many forms, such as low interest or high interest. Some cash back credit cards reward you for specific purchases, like groceries or gas. Using a cash back credit card that you will use frequently is the best way to go. If you get a cash back credit card that you will never use will do little for you in terms of cash back rewards.

Cash back credit cards also increase the amount of money you can save. You may only get a small amount back, but any amount is enough to count for something. That money can go to buying more, or into a savings account.

Always read the fine print, and between the lines when it comes to cash back credit cards. There are restrictions and guidelines that they don't tell you about right off. Its important that you know your limitations and restrictions prior to applying for the card and using it. You could end up using it and not getting anything back if you fail to comply to their rules that they have set in place. Cash back credit cards are a great resource to have, especially if you spend money often.

The amount you get back will vary from company to company, and may also be based on what your credit score is like. This shouldn't be a problem, because the cash back you do get is more than you would if you just used cash or a regular credit card. Remember, the benefits of using these cards greatly outweigh the downsides to using them.

It is important to stress the fine print that is involved with cash back credit cards. Some have promising rates and cash back percentages, but they only apply for up to a certain amount; but this is still great especially if you do not plan on spending more than that maximum.

Closing Comments

Cash back credit cards are worth the waiting and time spent acquiring the cash back part. You build credit, and get loads of benefits. That's definitely more than what "cash" can offer.

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Learn more on 0% balance transfers and credit cards.

Getting a Secured Personal Loan For Leisure

By Chris Channing

When your life is where you need it to be, or even if you are in a hectic environment, you may need money to cover the costs for something that interests you. There are many options available for you when you borrow under a secured personal loan towards any use. Secured personal loans can be used for almost anything you desire, as well as for those things you really need.

Secured personal loans often offer ways to get money quickly and easily. This monetary amount is usually determined by the collateral they use for the security on the loan. A borrower may use property such as equity on a home, vehicles like cars and boats as well as some other types of valuables. In the event that a borrower cannot repay the loan, the lender will then have the ability to use the collateral towards regaining their monetary losses.

Usually, a person can negotiate the terms for a personal or secured loan of this type. If not, there is usually a set repayment schedule, an interest rate that stays the same unless you miss payments along with having to pay a small deposit to show the lender you are serious about the loan. Not all lenders require a deposit, but it does help to show them you are serious if you have blemishes on your credit.

A secured personal loan can be used for anything you like. Depending on the property you used for collateral, the amount of money you have available from the loan can be enough to go on vacation, buy a sports car, traveling the country, even the world. You can even use the money to refinance loans or reconsolidate debts you may have incurred.

You can find lenders for secured personal loans almost anywhere and everywhere. A short look in the physical world will yield finding on billboards, in phone directories, on benches, on busses, on television and in the newspaper. Some of the best deals you will find on a secured personal loan will be online though.

You can get a wealth of knowledge on secured personal loans online throughout the world and have access to the biggest resources for finding loans for anything and everything. You can easily set your personal loan needs and apply online. You will often get a response to your loan application within minutes and you can have your money quickly and easily.

Closing Comments

A secured personal loan can be used for many things and can be received almost anywhere. Getting one for leisure just enhances the uses for your secured personal loan.

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Student Loans For Bad Credit Can Help Almost Anyone

By Dave Davis

In today's society, an education can really help you to get ahead. Without one, it can be very challenging to make ends meet. Education, however, is expensive and outside the reach of many people. If you have bad credit, getting an education can be especially challenging.

This article will teach you about financial programs that can help almost anyone to pay for an education, even those that have poor credit. Regardless of your past, the federal government can help you to get loans.

My parents honestly were dead broke when I was growing up. Even after their six kids left the house, they struggled to make ends meet. I honestly have no idea how they paid for us all when we were living at home. When I started college, I honestly had no idea how I would pay for it. I could barely pay for rent.

To make things worse, my parents didn't teach my about credit. I opened a few student credit cards up, and spent too much on them. Before too long, I was in over my head and had to make a decision between eating and making credit card payments. I know it was my fault, but I didn't know better in all honesty.

My education has been way hard to pay for. I have basically worked two or three semesters to save up for one semester in school. This obviously is a slow process, so I decided to get my credit in order. Now I have a 750 credit score, but it turns out I could have taken out loans all along.

The U.S. government has programs in place that can help people to get loans, regardless of their credit history. Even though my credit score was in the 450 range, I still could have taken out loans.

Bad credit student loans are something that quite a few people need. If you're in this situation, you want to look at Stafford and Perkins loans. Both are provided by the federal government and are available to those that need them, regardless of credit history.

I think these loans can help almost anyone to get an education. Going into debt for education is sometimes scary, but the increase in earning power definitely makes it worth it. If you have maxed out your Stafford loans, you can look at a private lender. However, if you have bad credit, you will probably need to get a cosigner. As long as you can, you can still get a private loan.

About the Author:

Dave teaches people how to use guaranteed online personal loans as a tool to get out of debt. He also shows people how they can secure private student loans for bad credit.

Getting Money To Work For You With High Interest Savings Accounts

By Chris Channing

Putting your money into a high yield high interest savings account can be one of the safest ways to invest your money for slow but sure profits. High annual percentage yield rates on most savings accounts are hard to find if you do not look hard for them. You can find many options towards saving your money through various banks.

It is easy to save money if you have a surplus. Usually, banks will require a minimum amount to be deposited to be eligible for the high interest annual percentage yields you want. This can be anywhere from ten thousand dollars or more. Sometimes they will have a limit on how much you can deposit and what you are allowed to earn interest on. This is one of the best ways to save money and earn as long as you keep adding little by little because it helps to accrue.

Interest rates are often determined by the bank but have an influence based on the way the market for banking is currently going. Many banks will often offer much lower interest rates if you do not put the minimum amount of money you need for the high yield interest benefits to occur. This can make earning money from savings difficult and frustrating.

Normal savings accounts can offer rates up to four percent on the current market with a One Dollar deposit. This can vary greatly, especially in the market turmoil that has come to pass recently. There are many different types of online savings accounts that put your money into a money market. This can be beneficial and risky, as you may only make one percent profit or lose money if the value of currency goes down.

Certificates of deposit are the safest way to make some interest earnings on your money. They are composed of a deposit which has a fixed interest that needs to be matured to a fixed time period to be able to reap the interests for that set time period. If the Certificate of Deposit is withdrawn before then, the bank may issue a fee which is a tactic to help an investor in a certificate of deposit keep their investment until the maturity date.

Banks heavily rely on all of the people that save money with them as they make it possible to run the bank. They take the money that people save and lend it out to those who borrow. They then charge interest and reward you for saving with a portion of that interest. If you choose a great bank, they will have better interest rates for your saving

Closing Comments

You can find options for high interest savings accounts all around the world. Although there are only a few types of high interest savings accounts, they all offer annual percentage yields that can greatly increase the amount you earn from your savings.

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How To Find Debt Relief Methods That Will Work For You

By Chris Channing

Debt relief methods are plentiful, extending from just the basic and common methods, to creative methods that can save you tons and improve your credit scoring. Debt relief methods are available to everyone, so you should never worry or stress that there are not any available to help you.

Debt counseling is a fun and easy supplement to other debt relief methods. This method is great for those who are clueless about money and finances. A professional will aide in the gaining of knowledge for those who need help understanding debt and what that means for their financial life. Since you will basically be being told how to use your money, debt counseling works much better if you can do it with an open mind.

If you owe a sum that you cannot afford to pay off in a timely manner, then applying for a debt consolidation loan is a good start. These loans can give you the funds to pay off your existing debts, no matter how small they are, or how large. You also save money, and get lower interest rates than say, a credit card payment.

If your debt is education related, there is a whole section of forms of debt relief for those who owe a considerable amount in student loans. These are great, especially if you are just now finding out that your major from college wasn't going to get you the high salary that you had anticipated.

Debt negotiation and debt settlements are also a form of debt relief that is very effective. Companies that you owe money to are usually glad to reduce your payments in hopes that they will at least get SOME money back from you. These are two very great ways to reduce the amount you owe, and if you owe a huge amount you can combine it with other forms of debt relief for maximum financial help.

Bankruptcy is a last resort form of debt relief. It is not advised to file for bankruptcy unless there is no way out for your debts. Bankruptcy is usually filed for those that owe more than they could ever imagine paying off.

Closing Comments

Aside from these few things, there are plenty of other debt relief methods available to all citizens. It is important that you examine your options and choose debt relief methods that are suited for your situation and financial problems.

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Learn more on debt consolidation loans and debt relief.

0% credit card offers need second look

By Josh White

If you have a credit card, you may have considered taking advantage of the deals promoted by the credit card companies at some time. Even if you haven't looked at the market until now, it may be a good time to re-examine your options. With an increasingly competitive market, you never know when a card that is ideal for your needs will appear. Currently, there are 67 million cards in circulation in the UK, and our appetite for the credit card lifestyle shows no signs of abating. So it is no surprise that new cards offering better deals crop up so often.

There are two types of 0% credit card offers with 0% on cash purchases and 0% on balance transfers. Many cards are now offering both of these services, but there are restrictions. The length of time that the 0% offer period lasts varies depending on the provider. If you have an existing balance on a card then it may be worth looking at the 0% balance transfer option so that you can transfer your balance and reduce your interest payments. If you want to make one-off cash purchases and pay the total amount back over a number of months, then the 0% cash purchases option will be more attractive.

The 0% cash purchase cards give you the option to make purchases on your card and avoid paying interest for a specified length of time. The length of time varies from card to card but is commonly around 3 months. This may not seem long, especially when you compare it to 0% balance transfer periods, but it is long enough to make a reasonably priced purchase and pay it off before the 0% cash purchase offer ends. It is also essential to look at the card's terms and conditions, as some items or purchases are not considered 'cash' purchases. For example, online gambling is often seen as not being a legitimate cash purchase.

A 0% balance transfer offer is a period in which you can transfer a balance onto a card and not have to pay any interest. It is now common for people to transfer balances onto 0% balance cards on a regular basis. However, because of this, banks have created a balance transfer fee to try and curb serial balance transferring or 'Card hopping'. Swapping between cards regularly to take advantage of 0% balance transfer offers can also have an adverse affect on your credit rating, which determines whether you will be accepted for other financial services in the future. The length of time for 0% balance transfer offers varies, with some cards offering up to 15 months interest free payment terms. The balance transfer fee is usually around 3%, which is added to your total repayment amount.

By understanding how the two 0% credit card offers actually work, you should be able to work out how to combine the two offers. It is possible to get a 0% cash purchase card, buy something relatively expensive, pay some of it off, and then transfer the remaining balance onto a 0% balance transfer card and then pay off the outstanding amount. For example, you could purchase something for £3000 and pay it off over 15 months at just over £200 a month, remembering to take into account the transfer fee. Managing your credit like this does takes a lot of planning, though.

Both types of 0% offers change frequently, as they are amongst the most popular credit card deals available. By taking into account all the advantages of using 0% card offers, you should have some idea of how you can make these cards work most effectively for you. Once you have a feel for these types of card, you can theoretically make interest vanish for a very long time. However, you do need to consider if card hopping could affect your credit rating and keep in mind that regular transferring is become harder to do as the industry begins to wise up.

About the Author:

Josh White is a finance specialist who writes regularly for popular websites. You can read more about Credit card offers and the 0 percent credit card here.