The recent message that Virgin is offering a zero percent credit card has once more brought to our mind the status of our finances.

So what is it offering? Well depending on which choice you choose it provides you 0% on balance transfers for as much as 14 months and as much as 12 months on any purchases. It without doubt appears inviting but is it a viable option. 12 months is a long time and the concept of not having to pay interest for that length of time is without doubt attractive. If we now have loads of Credit Card Debt shared out over a number of cards, then transferring them to 1 card as a kind of Debt Consolidation can indeed be an proposal.

One detail we should keep in mind is that while there is certainly no interest over the term, there is certainly a fee incurred of 2.98% per cent of any balances that are transferred. By using this Debt Consolidation system we are better equipped to cope with our finances. We of course have more accessible funds to repay that outstanding debt because of the lack of interest being charged. As an example let’s say we’ve a

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