Help, My Credit Card Debts are out of control

You Can Beat the Credit Card Recession

Economics 'Henny Pennies' like Steve Keen from the University of Western Sydney predicted an Australian recession arising from sky-rocketing levels of personal debt.

Australians have over $41 BILLION in Credit Card Debt. How your credit card going, or should I say cards?

We've all been in the situation where we said we were going to pay the balance off at the end of every month. BUT somehow we just turned around and the little sucker was maxed out.....

Well I am no finance guru, but there is one way you can buy yourself some time and reduce your monthly outgoings. Most credit card companies will encourage you to open an account with them by offering you an interest free or low interest period (3, 6 or 12 months) on all transferred balances.

Its not a long term solution, and of course you should get rid of that debt, but for example if you have a Harvey Norman Interest free deal about to expire then it might be a smart move.

Most of the banks have a low interest, low fee, basic credit card that you can get an 'balance transfer' interest free (or reduction) period.

I particularly like the look of the BP-Citibank Credit Card
You save 5% on all fuel (~ 6 cents per litre) & other purchases at BP Servos, You save 1% on everything you purchase, and you can transfer the balance of all your credit cards at 2.9% for 12 months.

You can find a list of other credit cards that offer lower interest rates on balance transfers on FastLook Finance pages.