A man has saved £1,300 in credit card interest after using Martin Lewis’ Money Saving Expert eligibility calculator to find a 0 per cent balance transfer, which allows you to get a new credit card to pay off debt from old ones.
As a result, you still owe the money, but at 0 per cent interest. Despite only having a 20 per cent chance of acceptance, Adam was offered a credit limit of £3,500 interest-free balance transfers for two years.
Speaking to Money Saving Expert, Adam said: “I applied to one of the top results on your eligibility checker, which estimated I had only a 20 per cent chance of acceptance.”
READ MORE: Woman gets £31,000 from DWP after Martin Lewis issues reminder
He continued: “I was offered a credit limit of £3,500 with interest-free balance transfers for about two years. This debt was costing 20 per cent interest. I can now focus on other debts, potentially having an extra £1,328 over the interest-free period.”
It comes after another woman was told she will be given a mega £31,000 cash boost from the Department for Work and Pensions (DWP) after finding out she was entitled to claim national insurance credits.
Financial guru Martin Lewis had been advising people to check whether they had a full national insurance record as you can buy back years to fill gaps.
According to Martin, you can only backfill six years usually, but temporary rules mean people can buy missing years from as far back as 2006.
Speaking to Money Saving Expert, Zoe said: “Thanks to Martin’s advice, I checked and I’ve six years missing for the full state pension.”
This woman did have to buy back the years to fill her national insurance gaps, as Martin suggested, which cost her £975, but this seems like a small price to pay after finding out she would get £31,000 back.
Zoe continued: “[I] found I’m entitled to claim national insurance credits for four years and pay to top up another. So for about £975 and 30 minutes’ work, I’ll receive an extra £31,000 in pension payments if I live for the average 20 years after retirement. Happy days.”
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