Archive: MoneySavingExpert's Money Tips Email

Don't leave credit-card debt to fester over Christmas - take 2mins to sort it now!
New. Longest GUARANTEED 0% debt shift, so all accepted get the full 29mths 0%, and it has a lower fee too

If you're paying interest on existing credit or store card debt, you can't afford not to check out whether you can cut the cost. Many might leave it now to sort in the New Year, but that's a mistake - it means the debt keeps compounding and things get worse, especially if you're borrowing more on top too. Fortuitously, the balance transfer market has been improving over the last few weeks, which opens a window to make it easier or better to sort it. 

A balance transfer is where you get a new card that pays off debt on existing credit & store cards for you - so you now owe it instead, but at 0% interest for a set period. That way, more of your repayments go towards the debt rather than just interest. Three tips first...

1. Apply via an eligibility calc to protect your ability to access credit. Ours will show which cards you're most likely to get.
2. Go for the lowest fee within a 0% period long enough to clear your debt. Generally, the longer the balance transfer, the bigger the one-off fee you pay. So if you can clear quicker, aim to minimise fees. Unsure? Play safe & go long.
3. Usually rejected when you apply? MSE's free Credit Club (available via the MSE App on Apple | Android) can analyse the problem, plus you can also access our eligibility calc from there, to see which cards you can get.

ALWAYS follow the Balance Transfer Golden Rules:
a) Never miss the minimum monthly repayment, or you could lose the 0% deal and it'll cost far more.
b) Aim to clear the card (or balance-transfer again) before the 0% ends, or the rate rockets to the higher APR.
c) Don't spend or withdraw cash. It usually isn't at the cheap rate & withdrawals may hit your ability to access credit.
d) If you don't transfer at application, you've usually only 60 to 90 days to get the 0%. Do check your card's terms.

Quick balance transfer FAQs (click links for Martin's answers)
Q. Is it worth applying if my eligibility odds are low? | Q. What if my credit limit isn't big enough? | Q. Can I shift debt to existing cards too? | Q. Should I try to pay off my biggest debt first? SPOILER: NO.
Full help and info, including options for poorer credit scorers, in Best balance transfers.

Disabled or ill and State Pension age? (You, or someone you know)
Martin: It's likely over 1 million are missing out on NON-MEANS-TESTED daily living help worth a min £3,800/yr
'I never thought I'd qualify [for Attendance Allowance], but I do. I got £1,260 backdated and £290 every four weeks. Thanks for all your work'

Financial support for many pensioners has been cut this year with the means-testing of Winter Fuel Payments, making it even more important that those who need help get it. Roughly a year ago, we launched our Attendance Allowance (AA) guide and awareness campaign, and successes have flooded in since. Yet it still remains massively underclaimed, and the risk is up to 1.1 million eligible pensioners miss out, according to Policy in Practice's 2023 calculations. So whether it's you, or someone you know who may qualify, take two minutes to read this. Last week, Andrea sent us this email...

"Following your advice re: Attendance Allowance, I submitted my application in June and within 2 weeks I was thrilled when I received a £1,259 lump sum backdated 3 months. I now get £290 every four weeks, which helps to pay for my mobility needs. I do not have extreme needs, so never thought I'd qualify, but I do. Thanks for all your work."

• AA isn't means-tested - it's for state pensioners who need some daily living help. With AA, your finances are irrelevant. To get it, you must be of State Pension age (currently at least 66). There's no specific conditions list. It can be a mental or physical disability/illness, what counts is its impact on you.
  
  You must've needed either help or supervision for six consecutive months (even if you didn't get it)...
  
  - Help means: Assistance with daily living / bodily functions, eg, washing and eating, so even if you don't think of yourself as disabled, you may be eligible - it's worth clicking the link to read the detailed definitions.
  - Supervision means: Someone to watch you to avoid danger to yourself or others.
  - It's common for those with Parkinson's, dementia, terminal illness, blindness, learning difficulties and more.
  
  Want to help someone else claim it? You can apply on someone's behalf too. If you're looking after someone who meets the criteria, you can apply for them as long as they can sign the form (or you've Power of Attorney to sign).
   
• The minimum you get is the lower rate of £73 a week - that's £3,778 a year.
  - Need help during the day OR night? You get the LOWER rate of £73/wk (£3,778/yr).
  - Need help during BOTH the day and night? You get the HIGHER rate of £109/wk (£5,644/yr).
  - Have less than 12 months to live? You get the HIGHER rate of £109/wk (£5,644/yr).
   
• How you apply matters... It's best to call up and request an application form, as then claims are backdated to the day of that request (do it online and there's no backdating). When applying, do have your National Insurance number, GP prescriptions and hospital records handy, and fill in the form with as much detail as possible. Applying can be tricky, but there are organisations you can call for help, most people get it without needing to attend an assessment. Do read our full help to apply for Attendance Allowance, including how to appeal if rejected, and let us know how you do.
  
  
• Warning. Beware if you get Personal Independence Payment (PIP) or Disability Living Allowance (DLA). Both PIP and DLA are usually worth at least as much as, and often more than, AA and you can't get both. See our AA clashing benefits help. If you're not sure, get free benefits adviser help before doing owt if you're on these.
  
  
• Attendance Allowance may unlock access to £1,000s of other extra help. AA is often the key to eligibility or an indicator you may be due other help, including...
  
  - YOU WILL qualify for a Disabled Person's Railcard. Costs £20, and gets you & a companion 1/3 off rail travel.
  - YOU MAY be accepted for a blue badge to park in places others can't, often for free, but it's council by council.
  - YOU MAY get Council Tax help with the horrible-sounding severe mental impairment (SMI) discount, which can mean 25% off for some or 100% off for those who live alone (or with someone else with an SMI).
  - LOW INCOME? You may also get up to £81/wk extra Pension Credit, or up to £416/mth extra Universal Credit.
  - HAVE A CARER? If someone close to you looks after you unpaid for 20 to 35 hours a week, your AA may mean they get Carer's Credit. If they do over 35 hours a week on low pay, then they may get paid Carer's Allowance, though how this interacts with AA is complex - see Carer's Allowance with Attendance Allowance help.
  - LIVE-IN CARER? If you live with someone who cares for you, you may be entitled to a Council Tax discount.