All about Credit Cards
Borrowing money on a credit card have many advantages, however, they are on the whole, an expensive way of borrowing money.
The reason for this is because lenders have no security in making the loan, and you have great flexibility in when you repay.
One of the best uses for a credit card is simply as a cash flow tool, use it, but pay it off in full every month. Carrying a heavy balance for many months is not a sensible way to borrow money.
Whilst there are many 0% transfer balance deals, they revert back to high interest rates and the only winners are the credit card providers.
If you are carrying a high balance on a credit card, over an extended period, it may be worth considering a loan, to clear the balance and getting rid of the card.
