Money Saving Expert www.moneysavingexpert.com Review

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Money Saving Expert www.moneysavingexpert.com
3.6 stars
Average rating for this product is: 3.6 out of 5

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sheilamags's Review of Money Saving Expert www.moneysavingexpert.com

9th Apr 2008

Overall Rating

4 stars
    Good Points

    A very interesting site and some excellent, non-profit making advice.


    Bad Points

    Martin assumes we all have spare cash. You cannot switch energy provider if you still owe a hefty amount to your existing provider eg £450.00 so you have to keep paying by direct debit whilst continuing to clock up heavy energy costs. Encouraging people to take out credit cards for cash back means many will fall into debt because they are too busy in their lives to properly manage their repayments. They may have a crisis and not be able to repay. Then the interest costs mount up and soon the vicious spiralling of credit card debts mount up. Balance transfer encourages more spending on the freed up card. Some existing cards will not allow 0% balance transfers. Has anyone else experienced refusals when reclaiming mortgage exit fees when mortgage companies refuse to acknowledge a problem. You have to have huge time resources to make this work!


    General Comments

    Why not instead put pressure onto credit card companies to lower interest charges to give people a chance to clear debts?

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