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While transferring your balance from a high interest credit card to one with a low interest rate is easy, there are certain things that should be taken into consideration. The first thing you want to do is look at your current credit standing. If you have a good credit history, you should have no problem getting a card that has a 0% interest rate. Once you get this card, you can transfer over your balance from the high interest credit card to your new card that has a 0% interest rate.

By doing this you can save hundreds or thousands of dollars each year. When you decide to conduct a balance transfer, it is also important to determine how much you want to transfer. If you have a balance that exceeds $10,000, it is unlikely that you will be able to move over the entire amount to one card. Many credit card companies will give you a limit on how much you can transfer. Even if this is the case, moving over as much as you can will allow you to immediately begin saving money.

Some people become discouraged when they realize they can’t transfer over the entire amount, but this is not the right attitude to have. Paying off a large credit card balance won’t happen in one day, and it is important to take your time and use discipline. Another thing you will want to consider is the fee that may be charged if you transfer funds. A typical fee will be 3% of the total amount transferred, and this could be a large amount depending on the amount you want to transfer. Some banks have solved this problem by placing a limit on how much they charge in order to transfer a balance.

While transferring your balances can be a smart move, the best way to avoid debt is to stay disciplined and avoid putting more money on the card. It is important for consumers to realize that they, not the credit cards, are the problem. Properly managing your personal finances is the best key to avoiding debt. Many wait until they are in excessive amounts of debt before they try to do something to correct the problem.

They come up with ingenious ways to pay off their debts, but fail to realize the underlying cause of the problem. Consumers have to realize that credit cards are tools that can help or harm them. While they are convenient to use, not using them properly can lead to severe problems.

Joe Kenny writes for Card Guide, offering the latest information on credit cards in the UK, visit them today us to apply for a balance transfer credit card and start clearing credit card debt today.

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So just why DO errors show up on your credit report?

According to MyFICO.com, errors in a person’s credit report might mean their file is incomplete, contains information about another person, or any number of reasons:

Sometimes it’s a simple credit report error like transposing numbers in a Social Security number.

Sometimes it’s a different name. A woman gets divorced, then remarries. A man applies for a credit card using an informal name (”Pete” instead of “Peter,” etc.)

Sometimes a clerical error is made. A hand-written application might be illegible by the person typing the information into a computer system.

Sometimes a bank will be bought out, and credit information appears in both records (Note: this has happened to me for a truck I had financed at a local bank … the local bank was later bought out by a national firm. That one loan was reported as two, and the first showed never being paid off until I cleaned up my credit report and the mistaken entry was eliminated).

Sometimes payments were applied to the wrong account. Without checking your credit report, you’d never know that there was a late charge a year ago on an account, possibly a late fee you weren’t even aware of.

Sometimes accounts you THOUGHT you had closed out and stopped making payments on actually are still open and are showing late fees.

Having credit report errors will not prevent you from getting credit. But errors — whether they are your fault or not — could effectively lower your FICO credit score. Having a low FICO credit score, in turn, could mean that you’ll be paying more for refinancing your mortgage or getting a home equity loan at favorable terms.

Our suggestion: Get your free credit reports from

http://www.AnnualCreditReport.com and check them over for accuracy. We’ve posted free tips at http://www.how-to-fix-your-credit-report.com to help make the process go smoother for you.

Your credit score is a reflection of your own past personal credit history, it is not etched in stone. Take action to improve your credit score, and you’ll see your FICO credit score start to rise and the interest rates you’ll be offered on future loans begin to drop!

Steve Johnson is publisher of http://www.FindHow2.com — a growing collection of free “how-to” articles focused on credit repair, debt management and financial planning. He also publishes his blog, http://www.how-to-fix-your-credit-report.com. He can be reached at fixyourcreditreport@gmail.com.

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You may have heard one of your mates boasting that they’ve been approved for a platinum credit card and wondered exactly what all the hullabaloo and fuss is over. Usually, it means that your mate is to be commended for keeping his or her accounts well in order but aside from that, each company that issues cards has different standards and features for their platinum cards.

First, understand that most finance companies that issue credit cards have many different products. Each of them allows you to make purchases on credit, but they each have different features that are unique to that particular card. One may offer a lower interest rate, but trade it off with an annual membership fee, while another may have a slightly higher interest rate and no fee as well as discounts for purchases made a particular merchants. Many of these companies offer a platinum credit card that is loaded with features for their best customers.

Each company’s platinum credit card is different. In fact, many companies offer more than one version. In general, it has a high spending limit, low interest rates and special features that are designed to make it attractive to those who use often. Those features may include cash back, special rewards, membership in discount clubs or auto clubs and even special rates on automobile or life insurance. They also, however, often have an annual membership fee you must pay in order to keep your card, which may make them less attractive than a less prestigious card.

In other words, even though these types of cards often require impeccable credit, don’t automatically assume that a platinum credit card is the best card for you. Depending on your reason for wanting a credit and your circumstances, another type of credit card may be the better choice. If you’re carrying outstanding balances on other cards for instance, you may do better with a balance transfer card that offers 0% interest rates for balance transfers. You may find that an option that offers a discount on petrol prices is the best choice for you if you travel a lot, or you may prefer something that’s linked to your favourite charity.

Before you make your application, it pays to compare all the features and charges of one against another. At moneyeverything.com you’ll find listings of dozens of credit card offers from all the major companies in the UK. You can compare interest rates, annual fees, cashback and rewards and other incentives online to help you choose the best credit card for you.

Jon Francis has been involved in various areas with the world of finance and has a keen eye for a bargin! He has an in-depth knowledge of the credit card UK market and now helps others get the best from a credit card.

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