The Martin Lewis Podcast Chats with the Chancellor & how to cut credit card debt
Jan 10, 2024
Martin Lewis shares his visit to No. 11 Downing Street and his conversation with the Chancellor. Strategies for cutting credit card debt are discussed. Listeners share their financial tips. Other topics include ISAs, child benefit, inflation, managing debt, money-saving tips, cashback accounts, childcare support, and a Groupon cinema deal.
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Martin's Meeting With The Chancellor About Consumer Issues
- Martin Lewis met Chancellor Jeremy Hunt for a 25-minute interview to press for policy changes like lifetime ISA fixes and child benefit fairness.
- He reported a 75% chance of lifetime ISA change, 40% for child benefit, and asked for broadband/mobile price hike action.
Use Zero Percent Balance Transfers To Cut Card Interest
- Do check for 0% balance transfer cards if you pay interest on credit cards.
- Use eligibility calculators for soft searches, pick long zero-percent terms if you need time or low-fee shorter deals if you can repay quickly.
Pick Balance Transfers By Term And Fee
- Do prioritise longer zero-percent deals when you need more time and consider the balance transfer fee (e.g., 3.45% for 29 months).
- Compare providers like Barclaycard, M&S, Santander and NatWest for differing term/fee trade-offs.