The Banks are getting in on the green act. Be on the look out for the launch of biodegradable credit cards. Virgin Money has announced that they will be launching a credit card that is literally green, both in colour and biodegradable materials.
I’m sure your thinking, if only they made the credit card debt dissolvable too.
There are now new and innovative ways to improve your debt problems. If you are struggling to make your debt repayments, then read on to find out how we can help dissolve credit card debt, along with other debts.
At Australian Lending Centre we are very familiar with how easy it is for thousands of Australians to make their way into debt via the use of credit cards. Add to this the relaxed methods of attaining some personal loans, or entering into a buy now and pay later scheme and you will begin to understand the magnitude of debt that Australians have found themselves in. According to the Reserve Bank, Australia is roughly in $21 billion of credit debt.
We all know that it is wise to pay off your credit card debt in full every month, but realistically in today’s tough economic times, people struggle to live within their means as it is, so paying off a credit card in full is not always feasible.
A few simple tips to help you keep on top of your credit card debts are;
- Pay off the card with the highest interest rate first, and then move through your other debts accordingly
- Add 10% on top of the minimum monthly repayment
- Consolidate your debts by putting all of your debt into one – this will lower your interest rate
- If you have enough equity in your property, roll all of your debts into your home loan
- A debt agreement can reduce your total repayments, freeze your interest and stop creditors from contacting, or taking legal action against you
To learn more about how Australian Lending Centre can help you solve your debt problems, call 1300 138 188 to speak with an experienced debt consultant today.