The UK is out of recession and the housing market is set to be potentially booming over the next 7 years, but the challenge which is still facing the many people in the UK is credit card and loan management. For some, balancing a series of credit cards and loans sounds like a nightmare – a bad solution to debt, but it can actually be an effective way of getting a handle on your finances, if you don’t let things spiral out of control. So what are the advantages to managing debt through effective credit card and loan management? And what are the best ways to achieve this in your own finances?
Often when you open up a new credit card or loan account, your provider will give you a range of benefits as a thank you for registering with them. Whether it’s complementary mobile phone insurance or a free upgrade to a business account for the first month for no additional cost, these are welcome bonuses, so why not take advantage of them?
Comparison sites are a great place to get a first look at the bonus features the various credit card and loan providers are offering, but getting on the phone to an expert advisor will help you better-understand the benefits offered. If you spread your debt across several new credit card accounts, you’ll receive more free benefits, so why pass the opportunity up?
Interest-Free for the First Year
One of the best freebies that a credit card provider can offer is interest-free periods for new account holders. So regardless of whether you’re looking to spread debt across multiple accounts, or you’re just looking to place your debt onto one single card, it’s a bonus feature which can save you a lot of money. It’s essential to remember, however, that the interest-free periods are likely to last no longer than a single year, so ensure you change the account provider often.
Loan Management through a Professional Broker
The easiest way to ensure you’re getting the best deal when securing the right loans for your personal debt circumstances is by going through a broker which communicates with a number of lenders before coming back to you with a solution. Specialists like the ones at 1st Stop have more experience than you are likely to have in sourcing the most competitive deals, so if you’re asking what the secret to effective loan management is – it’s a broker which is willing to go the extra mile to find you the best loans on offer.
Ultimately, effective credit card and loan management can help you to get on the right financial track, so don’t get further into debt – help yourself with smart credit card and loan management today.
This is a sponsored post.