Credit Card Debt Consolidation

GE Money Debt Consolidation

Consolidate your credit card debt using GE Money Debt Consolidation. By rolling all your debts into a GE Money Debt Consolidation you can make just one simple repayment every week, fortnight or month depending on your preferred repayment freqency. You can also set your own loan term that suits your budget. Consolidate your debts using GE Money Debt Consolidation today.

Features:

• Consolidate your credit cards, store cards, bills and other loans into just one easy to manage loan.
• Set a loan term that suits your budget and you could reduce your monthly outgoings.
• The repayment amount is fixed so it is easier to budget.
• Choose your own repayment frequency – weekly, fortnightly or monthly
• Fixed interest rate for the life of the loan.
• Make easy repayments using Direct Debit.
• No maximum loan amount (*subject to approval)
• Get approved within 24 hours of your application

Click here to find out more about this offer

Credit card consolidation offers consumers who have financial problems to consolidate credit card debt by moving all of their existing cards onto a new card, called a balance transfer card.

If you currently struggle with several credit cards and find them to be a nuisance rather than a helpful tool, then perhaps it’s time for you to consider credit card debt consolidation.

Here are three tips below will show you why and how you need to pay attention:

3 credit card consolidation benefits:

1. Convenience accounting: The first benefit is very strong. By consolidating your credit cards into one new balance transfer card you get to enjoy the convenience of having to deal with the one single account and statement rather than the many you currently struggle with.

You won’t need to remember several payment dates which makes the whole process of managing your credit card very convenient. You will also less likely forget to pay your consolidated credit card on time. This in turn will allow you to repay your debt much faster.

2. Benefit from fabulously low interest rate periods: How low can they be? How does 0% sound? Many credit card lenders offer a six to 12 months interest free introductory period. Some even go one step further with lifetime offers of zero percent interest.

By paying less interest on your credit card consolidation attack you save more money and reduce your debt much faster. Every penny saved is a penny paid off faster if you use a balance transfer card correctly. Here is where the money is:

• Pay special attention to how long the honeymoon period lasts. If the six months are up, interest rates will revert to much higher rates and those can ruin your whole effort of trying to consolidate credit card debt.
• Pay attention to balance transfer rates as these are usually around 3% of your debt. If your debt is very high, you might want to consider a credit card debt consolidation loan instead.
• It is advisable to read the card’s terms and conditions before you proceed with any debt consolidation strategies.

3. Repay your debt much faster: By applying the above tips and strategies you can theoretically pay off your debt within the six months of your 0% introduction period. It is advisable to do so. Before you grab the first card, visit our credit card debt repayment calculator and see how long it would take to repay your debt on the card you consider switching to.

If you find six months are not enough, choose a balance transfer card that gives you a 12 months interest free offer. If that is still not enough, choose one for life.

The following credit cards can offer you a six months interest free balance transfer period:

• Citibank Clear Platinum Credit Card
• ANZ Low Rate MasterCard®
• ANZ Balance Visa

• Comparison of Top 10 Credit Card Offers

Editor's Choice: Our Top Credit Cards

Credit Card	Card Details	Interest Rate (p.a.)	Cash Advance Rate (p.a.)	Balance Transfer Rate (p.a.)	Annual fee	Interest free days (up to)
HSBC Credit Card	Editor's Choice: 0% for 6 months Balance Transfer & No Annual Fee Featuring a $0 annual fee for life, and 0% p.a. balance transfer for 6 months, the HSBC Credit Card was voted the Best Transactor Credit Card for 2010.	16.99%	20.75%	0% for 6 months	$0	55
Suncorp Clear Options Standard Visa Card	A great 12 month balance transfer offer, combined with a low annual fee and a good interest rate on purchases.	12.24%	17.99%	1.9% for 12 months	$39	0