Myvesta credit card manager to help those in debt
www.moneynews.co.uk > Credit cards > Myvesta credit card manager to help those in debt
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Money News |
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Myvesta credit card manager to help those in debt
Fri 7th Oct 2005
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The system works by analysing a customer's debt, and then suggesting the cheapest and quickest way to pay this off using a number of credit cards.
Steve Rhode, chairman of Myvesta, explained the strategy behind the system: "Send the largest payment to the credit card with the highest interest rate and pay the monthly minimums on the rest.
"After the highest rate card is paid off, move those funds to the next highest card."
He concluded by saying that consumers should continue with this until all debts are paid off.
The Myvesta credit card manager is accessible online and customers can view their details online, as well as being advised on balance transfers and payment schedules.
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