Maybe it’s part of the tendency which makes some of us delay opening an unwelcome letter. Or perhaps it’s just that we feel too busy. Whatever the reason, many consumers shy away from reviewing their credit cards or loans, according to a new research.
The study, by Capital One, indicates that almost half of credit card customers and 86% of loan customers failed to review their card balances or loan arrangements in the course of last year. At the same time, nearly 9 out of 10 people said they felt confident about the way the handle their personal finances. Many of us, perhaps, take our debts, and the interest we’re paying on them, for granted.
Given the pressures on household finances, and increasing competition in the mortgage and loans market, it makes sense to look again at the terms on which we borrow and the payments we make each month. Credit and store card interest rates vary widely, while introductory deals lapse, leaving borrowers with higher payments. The trained mortgage officers at Go Remortgage can help you review your finances – and consider remortgaging or consolidating debts so as to reduce your monthly outgoings.
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