Avoiding High Credit Card debt Payments

Research by Money Supermarket suggests a missed credit card payment could cost upto £300.

It is increasingly popular for consumer to switch their credit card debt between different companies. This is something known as "Rate Tart" - always moving your debt to lowest interest payment. However if you miss a payment you could be automatically moved from the 0% introductory offer to the standard AVR, which could be upto 17%. ALso you may be charged a penalty for a missed payment. In order to avoid this it is best to set up a direct debit to pay minimum off each month and also try to pay some extra each month.

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