Consolidation of Credit Cards
At times it can make sense to consolidate your credit cards. The key point to bear in mind is that you have not reduced your debits, simply merged them.
It can be beneficial, in that you only have one payment to manage and track, and with today's credit market you should be able to find a good deal, at least on a balance transfer.
As with all debt consolidation you need to check the basics - interest rates, terms and conditions, and length of repayment period.
Watch out for cards that quote their APR on a monthly basis, 1.5% a month sounds better than 19% APR!
- moneynoesis: uk credit cards list some of the better credit card deals for UK residents.
