Changing your Credit Card Can Help With Debt Management
Consumer debt is currently spiralling higher by the week. As various credit card companies, consumer groups and government agencies try to dispense advice to consumers about how to manage their debt, it’s important for people to understand that they have a large variety of options available to them when it comes to avoiding a debt-management crisis. One such option that some credit card owners can opt for is to change their credit card provider.
Changing your credit card provider is a sensible option to take if you’re struggling to pay off your current credit balance. In fact, many credit card companies offer extremely low – sometimes zero percent – rates on balance transfers. So if you think you can pay off your existing debt within six months – and the zero per cent interest rate is valid for the same period of time – then changing your credit card provider is surely an obvious move to make.
However, it’s important to research thoroughly before you take this step: once the initial low or zero per cent interest rate offer has passed, the rising monthly repayments can soon offset any benefit that the introductory interest rate may have given you. Most banks will warn you when the low interest period is over, but it’s vital that you maintain your financial sense and keep track of changes in your interest rate.
However, there can also be disadvantages to changing your credit card provider: credit agencies monitor the number of credit cards individuals carry, and you can obtain reports from credit card issuers to gain advice on how to deal with them. However, you may be refused if a particular lender decides you have too much outstanding credit, so take as many precautions as you can when attempting to manage your credit card debt. Make sure that you check your bill for errors every time it arrives – and it’s always best to pay the whole balance if you can. Paying the minimum amount (usually only 3 per cent of the total amount) can be a dangerous way to slide into debt.
If you decide to apply for another credit card, it’s vital to find out exactly how much credit will be made available to you, and what your rate of interest will be. Credit card issuers occasionally offer deals as well, thereby offering you a lower rate of interest for a longer period of time if you stay with their services. Taking such action can often be more appropriate than taking out a personal loan, although it’s important to keep in mind that different financial options should be chosen depending on your personal circumstances.
Martin Mcallister
http://www.articlesbase.com/credit-articles/changing-your-credit-card-can-help-with-debt-management-95191.html
November 20th, 2009 at 7:27 pm
Global Credit Card / Debt Management Service – Companies Doing Fraud?
I am constantly being called by two companies, Global Credit Card and Debt Management Service, these two companies constantly ring me and offer me Credit Cards solutions to help me get out of debt. Now when I wish to enquire about the company, such as the name of the person that I am speaking to, where they are based, a website, a contact telephone number I am told that they do not need to give me that information. Now I don’t know about you guys if you are getting the same kind of nuisance as me but I really want to get these guys caught. Last time I was sucked in, I was offered a pre approved £4000 credit card, when with my credit history I can’t even get a £1000 credit card. So I ask them how can they approve me already, how do they know my details on how they can approve me, I get the response that I am chosen from a selected few to receive this 5 year anniversary offer. Okay so basically I was told that with £2 I can have the pack sent out to me, so I thought why not see what they can offer me, soon as I gave them my details I had £12 taken out of my account. Now the only bit of information that I was given about the company is that they’re on Cleveland Road in London I wouldn’t take that information 100% accurate. They also interrogate you to pay a monthly fee to charity where the person will tell you that you don’t have to contribute, I didn’t want to contribute but this conversation went on for about 20 minutes on the phone as to why I don’t want to pay them and all I got was the vibe that I’m not going anywhere until you pay us the amount.
If you refuse to speak to them once, they will ring you back.
If you offered them your details and they took extra money out and you can’t do nothing about it well they will ring you back under a different company name.
Global Credit Card & Debt Management Services are FRAUD companies.
I repeat they are companies who are doing fraud. Do not give them any information, slowly, slowly they will build up the details of your home, email, work history. With this information they can do anything. Immediately if you think you have been effected change your card, call the report it missing or stolen line at the back of the card and check your statements.
If anything the name of the company will appear on your statement under this name CALLEMATICS LTD. The address for the company is CALLEMATICS LIMITED, 74 Cleveland Street, LONDON, W1T 6NA. But I fear this will only be the name of the company which provides its call centre information
If you have any experiences with this company, please state here.
November 21st, 2009 at 12:29 am
This company is a fraud company dont give them your card details tell them to p— off.
References :
dealt with them
November 21st, 2009 at 12:31 am
We have the same nuisances in the USA.
Take whatever info you got out of them and make a police report.
Next time they call… get a whistle…. and blow it as hard as you can into the phone… then go back on the phone and go….
"What was that?….. I can’t understand you… we have a bad connection.
And hang up.
References :
November 21st, 2009 at 12:33 am
this company also stung my wife and i for £20, as luck would have it, we decided to check with our credit card provider within the hour, and got our cards cancelled and new cards issued, but we still got hammered for the above amount.
to google callematics you find it is a non-contactable company, who seem to be a foreign call centre, should we hold them responsible for the fraud on my cards????
References :
google.
November 21st, 2009 at 12:35 am
I’ve just been scammed to. They’ve tried to take out £11 out of my account but I’ve rang the card company and cancelled my card so hopefully it won’t go through. I’ve wrote to watchdog about this so I’m hoping I’ll hear something back from them.
References :