Save after the balance transfers are done
25 March 2008
Many people utilise credit cards with low interest rate balance transfers as a feature without considering if they will be good value once they have managed their debt. This can lead to a debt cycle, where you pay off one debt only to build it up again, transfer to a new credit card and repeat. You should look for a credit card that offers not only a low balance transfer rate, but also budgetary benefits for using it afterwards such as the Citibank BP Mastercard.
The Citibank BP Mastercard starts by helping you pay back your debt with 2.9% on balance transfers for the first 12 months on balances you transfer with the application. This low rate should see you repaying what you currently owe far more easily.
Once you have a zero balance again, however, the Citibank BP Mastercard helps you to save on your vital bills as well as everything else. You can save up to %5 on fuel or any other purchases you make at a participating BP outlet, and you will receive a 1% discount on purchases made anywhere else, paid to you as a cash back at the start of the next billing period. As fuel costs are rising at an astonishing rate, this could really help you maintain a budget to keep yourself out of debt.
Please visit our credit card comparison page if you would like a credit card that will continue to help you save money even after you have neutralised your debt with balance transfers.
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