Resolution #2 - Can I pay less for debt?Minimise and manage debt
Credit cards, loans and overdrafts, when used sensibly, can be a very valuable way to enable us to manage our finances. However, it’s important to minimise their cost and this is particularly relevant if you have accumulated debt across multiple credit cards and loans.
Weighed down with plastic? Perhaps it’s time to prune down to one easy to manage credit card? Check our range of credit cards to see if we’ve got something that could help you. To apply you must be earning over £10k p.a. and be a UK resident. Over 18s only. Balance transfers from other Royal Bank of Scotland Group cards are not allowed.
Most of us will require a loan or credit card at some point. If you have existing debt, then it’s worth seeing if you can save money by switching to a loan with a lower rate than your current debt. Over 18s only.
There are times when going into the red is unavoidable. Having an agreed overdraft can provide a buffer against unauthorised overdraft charges, especially if you anticipate having to deal with fluctuating monthly expenses. Over 18s only & subject to eligibility.
If you're struggling with monthly payments you may want to speak to your current lender; they may be able to help with a new payment plan. It may be cost effective to pay off some of your debt from spare savings and/or investments.