Pay Down That Credit Card or Store Card Debt As Fast As You Can

24th September 2022

Credit Cards are great things to have and to use and for many years it was easy to pile up the amounts owing. With relatively low interest rates and no cost of living crisis that may have suited your lifestyle.

No longer is it going to be sensible to have a lot of credit owing on that plastic. Interest rates are now rising faster than for many years. The latest rise is the seventh in a row with some experts saying that the rates may double over the next 12 months. That makes mortgages and credit cards cost a lot more. But at least with the mortgage you get a property. With credit cards it may be hard to say what you really got for all the debt that piled up slowly over months and years.

Now is the time to lock up the cards and pay down as much as you can before the interest charges cripple your budget.

Think about switching cards to save money

Act now before the next interest rate rise.

The Bank of England in UK and The Fed in USA have both indicated more interest rate rises are coming. Every pound reduction will save you money.

If you have outstanding amounts on credit cards or store cards etc check the links below. It is never to late to get things sorted out.

No need to pay for debt advice as there is plenty FREE advice backed by government and Citizens Advice.

Help with Debts that is FREE

Best ways to pay off your debts - Scotland
https://www.moneyhelper.org.uk/en/money-troubles/dealing-with-debt/options-for-clearing-your-debts-scotland

Help With Money
https://www.mygov.scot/support-money

Citizens Advice - Help with debt
https://www.citizensadvice.org.uk/scotland/debt-and-money/help-with-debt/