Interest free periods are not unusual, they are offered by lenders to those who want to transfer their balance and have nothing to pay by way of interest for a certain period. Now it appears credit card lenders are even more competitive and the interest free periods are now longer, which encourages people to take on the cards. If you just use your card for balance transfers then it may not be such a bad deal. However if you spend, spend, spend on your new card this could lead to severe debt problems, and this is the mistake that many credit card owners who transfer make.

Individuals also have to be wary and ensure that they are able to pay off their credit card before the free interest period ends. Otherwise, the rates of interest are often particularly high which of course is when the majority of individuals begin to struggle with debt. In you have gotten over your head with your credit card repayments then you may wish to consider taking iva advice or consider entering into a debt management plan. Both are ideal ways to settle your debt over a period, in a monthly repayment that is affordable. If you have more than one credit card or you have unsecured loans, your debt management team will be able to work with your lenders and you then have only one repayment to meet each month.