You are here: Home - Credit Cards & Loans -

“Switch to save”, urges comparison site

Written by:

Consumers with massive credit card bills could save more than £300 by switching their credit card providers, price comparison site Moneyfacts has said.

Research carried out by Moneyfacts showed someone with a Smile standard rate credit card at 18.9% APR and a balance of £2,500, could save £325.24 by switching to Abbey. This card currently charges 0% interest for the first 12 months and has a 2.5% balance transfer fee.

Savings can also be made on overdrafts of £1,000. According to Moneyfacts, someone with a NatWest current plus overdraft, charged 19.99% interest, could save £19.90 by switching to Alliance & Leicester’s Premier Direct which charges 0% interest for the first 12 months (assuming funding of £500 per month).

Andrew Hagger, spokesperson for Moneyfacts, said: “Thousands of people will have taken a sharp intake of breath when they realised the extent of their Christmas overspending as their latest credit card bills hit the doormat. Rather than doing nothing and paying a fortune in interest charges, why not see it as a kick up the backside to switch your credit card to a cheaper deal?” 

Related Posts


Tag Box




Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

The essential Your Money guide to the April 2018 tax changes

As we head into the 2018/19 tax year, a number of key changes take place to existing policies while some new i...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co... Awards 2018

Now in their 21st year, our awards recognise the companies offering the best products and services to consumers

Money Tips of the Week

Read previous post:
Retirement savers missing out on stock market

More than 1.8 million savers are missing out on the benefits of long-term pensions investment by risking their retirement on...