Martin Lewis recommend paying your credit card bills as soon as you can (Image: Getty)
strongly urged Brits to not sit on their credit card bills and pay them as soon as they can using one .
The financial expert shared how using a balance transfer can help you save loads in interest.
Writing in to Martin Lewis, a reader, named Trevor, shared how a 0% balance transfer card helped him save nearly £1,000 in interest.
By transferring balances from two credit cards costing £76 per month in interest to a 28-month 0% deal, Trevor cleared his debt in just 15 months for only a £164 transfer fee, instead of paying over £1000 in interests.
Getting a balance transfer credit card can save you loads in interests. (Image: Getty)
A 0% balance transfer allows you to move debt from one or more credit cards to a new card that charges no interest for a set period.
This approach ensures your repayments go directly toward reducing the principal debt, rather than just covering interest charges.
And this month is the prime time to deal with it.
January is known as “debt month,” prompting lenders to roll out competitive offers to attract customers.
Martin Lewis said: “Even though it may feel hard to face, the sooner you tackle it, the sooner it can be improved. So don’t wait for a statement, each day’s delay just adds more interest, deal with it now.”
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To make the most of your balance transfer card, always make minimum payments on time to avoid losing the 0% offer.
Avoid using the card for spending or cash withdrawals, which typically attract higher . And pay off your debt or transfer it again before the 0% period ends.
If you’re unable to meet minimum payments, feel overwhelmed by debt, or owe more than a year’s salary, consider seeking free advice from organisations like Citizens Advice, StepChange, or National Debtline.