I firmly believe the credit card firms should be held accountable to some degree for consumers

Now, in theory, these are fantastic, IF you are disciplined enough to use it ONLY for that duration. Nowadays we are seeing up to 40 months interest free options, that's more than 3 years! Blimey, a lot can happen in that time and that's where PPI comes in (but that's a rant for another tim

I did a balance transfer a few years ago and moved quite a large chunk of my balance, around 5K I think. This only cost me Fifty quid. Now although I'd been given 12 months, (or 18 as I had) to clear 5K, I thought, well that'll be tough but whatever's left on it, I'll do another balance transfer in much the same way. This works fine but the problem now becomes that I have space on my "transferred" card with 5K flexibility on it, general living purposes, giving me some breathing space. Worst idea ever! I got myself in a worse position, and going backwards with no way of paying it off.

In 2014, I got myself into gear, spent some time going through all of my accounts to learn exactly how much I owed, and exactly how much I needed to spend to live, I wasn't looking to achieve a comfortable life at that point, just to get to a position where I could keep my head above water.

The best thing I ever did was to reach out and ask for help from a Debt Support Charity, it was free, it was impartial, and they're only objective is to HELP. The solution may not be desirable but it will be beneficial. I'm now on a Debt Management Plan (DMP) with " Step Change" this is a FREE Government backed Debt Recover Agency

Binge credit is something that has come commonplace in today's society and sadly, unless financial institutes and our Governments take control of it, I fear this will only get worse and plunge the UK population into serious debt.

Never ever just pay the minimum payment required, as within about 3 months, interest will accrue and you will owe more than you did in the first place.

Please remember that credit cards companies are in business for exactly the same reason as anybody else - TO MAKE MONEY - This is why they charge you a pittance as a minimum payment, obviously they have to warn you it will cost you more to pay off the balance but they get to make more profit from it. Take control and get help before it gets too late