Many opting to transfer credit card balances
August 5, 2008
According to a recent report many credit card customers are looking to transfer their credit card balances from high interest credit cards onto low interest or interest free balance transfer cards, as higher living and borrowing costs continue to wreak havoc on household finances, leaving consumers looking for different ways to try and reduce their outgoings.
Whilst many people have already looking into transferring their balances from expensive cards onto cheaper options, it is thought that even more people may start to look at this process once the summer holidays are over and parents are left struggling with credit card bills having spent a fortune whilst the kids are off.
One industry official said that a number of lenders are still offering some great deals on balance transfer cards, but applicants will need to have a very good credit profile in order to be successful.
He said: ‘Virgin, Capital One and Barclaycard have long been regarded as the fore-runners in the balance transfer market and again they are leading the pack. All of this is great news for consumers looking for a new credit card to transfer a balance. However, the recent tightening of lending criteria by lenders means all but those with the most gleaming credit profiles are accepted.’
Written by Peter · Filed Under News Credit Cards
Hello,
I’m a creditcard holder, but only a supplemental, meaning my wife is the one who is registered in the credit card. So the credit card of my wife is 2 but the same company, and she gave me the other one credit card written in my name but only with minimum credit unlike with my wife that she has the the limit more than me. It is because she is the one who applied for the two of us( maybe im the benificiary here).
Since we are paying our bills by consolidation or combination of what we purchased in stores etc., and in her name to pay our bills, my question is i want to separate my payment from what i have purchase? what will i do?