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Credit Survival Tips

If you are going to use credit, have a look at a few important tips below. 

If you haven’t been able to find the information your looking for please contact us here - I'd Like Some More Advice.

  • What is the APR?

    This stands for Annual Percentage Rate and is the rate of interest that you will pay on the money that you have borrowed over one year. This figure is given to make it easier for you to compare rates.

  • How long will it take to repay?

    As well as knowing the APR, you also need to know this to work out how much you will actually be repaying. For example, if you borrow £100 at 13% APR for one year you will pay less in interest than if you borrow the same amount at 10% APR over two years.

    Take a look at the minimum payment calculator at to see how long your loan will take to pay off and the interest that will be charged if you only make the minimum payment each month. All the info you need should be on your credit card statement.

    For the best outcome, you could compare this cost to a scenario where you pay off a larger amount each month rather than the minimum payment. This will show you how much money you can save in interest.

  • Is there an interest free period?

    As long as you pay off the total amount of purchases you make using your credit card before the payment date, most won’t charge you interest.

  • Can I avoid paying interest?

    Some credit cards offer 0% interest on balance transfers for a certain amount of time. You should look into this if you have an outstanding credit card balance. Check out some of the 0% interest offers on

    If you can't find what you're looking for, or want to have a chat face to face - just get in touch. Debbie, your Money Management Adviser is here and happy to help!

Borrowing Money
Borrowing Money