electronic Global Trade Credit Platform/eGTCP's Blog: Say Goobye to Festive Finance Hangover With THIS Credit Card

We are still young, it is unavoidable to overspend in December. Instead of waking up on New Year’s Day and putting down your face before a financial problem, we’ve come up with some strategies to help you have a stress-free start at heart.

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1. Be sure of what you have

When you’ve got a good looking value on your credit card, it’s tempting to neglect how much you’ll need to pay back in the future.

Thus, make a list of what you have, and how much tempting you’ll be paying on your outstanding debt, enables you to be assure.

Check your current card bill or overdraft statement to see what APR (annual percentage rate) you will be charged. Then you can try to handle with the debt on the highest APR available.

2. Borrow what’s exactly in need

You have lots of expensive debt but can not see a way of clearing it anytime soon. Then This is when credit cards can be useful to manage your cash flow.

By shifting existing debt onto a balance transfer card, you’ll get some breathing space. This strategy is most suitable for organized people who are sure they will use the interest-free period to pay their debt. What you don’t want to do is to have two years of paying nothing back, and find you have the same amount of debt in the end.

You’ll be charged a transfer fee on the sum you’re moving to that card, however you may have 24 months or more to pay off the debt.

Balance transfer fees may vary from 0.6 to 3 percent of the amount transferred. Before making the transfer do have a look at the transfer fees and how long to repay the money in order you can work out if it’s worth.

The typical credit card has a standard APR of around 18 percent. Store cards can be 30 percent or more, so it’s easy to see how debt mounts up and by paying off the minimum amount monthly can your clearing debt takes a longer time.

There will be some delay time between applying and getting a new credit card, you need count this to your timetable.

Some cards offer longer interest-free periods. For example, the Sainsbury’s Bank credit card (available to Nectar cardholders), offers 33 months at 0 per cent interest and then an APR of 18.9 per cent after that. The transfer fee is 0.64 per cent on transferred balances. Barclaycard Platinum and the Tesco Clubcard Credit card has similar deals.

3. Get the best deal on big expenses

Utility bills, home & car insurance, mobile & broadband contracts are some of the highest ongoing household costs.

4. Declutter and sell

You may have unwanted Christmas presents, unused clothes, magazine subscriptions, gym membership, or other services that’s not useful to you no longer. Cancel the services you don’t need any more and sell the items that are cluttering up your home.

Check existing direct debits which you might have forgotten about. Do you have a mobile phone contract still current for a phone you’ve replaced?

Are you wasting money on extended warranties for goods that you’ve sold or given away, or which are already covered for 12 months under the manufacturer’s own warranty?

Money saving is good if you can save bit by bit. Fast money can save your business life when you are sure that you can manage the debt well. Always remember to control. To use the money to the full, you can consult a financial expert. eGTCP is here to offer you various service to support your business.

Here is how to apply an eGTCP card. Please click here.