Is time running out on the interest free period on your credit card?
We all have busy lives and our finances aren’t always the first thing on our minds. By planning ahead you may be able to save yourself money in interest. Statistics show that each UK household has an average of £2,688 unpaid debt on credit cards. The average APR on this borrowing stood at 18.5% in October 2018 (Independent, 2019). Taking advantage of interest free periods on credit cards can be a great way to save yourself money in interest. We are here to help, which is why we have created a step-by-step guide that could be beneficial to you.
Your step-by-step guide
Find out the interest rate you will be charged on your credit card and how much your repayments will be. It’s also worthwhile to note the date your interest free period comes to an end, so you can give yourself time to plan in advance!
By knowing what your credit card interest rate will be after the interest free period, you may wish to consider other options that may help you save money, including taking out a loan to repay your balance in full.
By getting a loan to pay off your credit card in full you could save money. Why not compare our loan rates to the rate on your credit card and use our loan calculator to see how much your repayments could be?
Borrowing with No1 CopperPot could hopefully save you money in interest whilst getting rid of your high interest credit card. We exist to help the Police Family financially, if we can help to save you money every month, we will!
All loans are subject to affordability and our lending criteria.