Charge Account Duty Consolodation
The benefits from charge account duty consolodation
‘Charge account duty consolodation’ seems to be the most talked-about term in the world of charge accounts. It’s
true that charge accounts have been very useful and convenient for us and we, in fact, treat the charge accounts as
a necessity. However, with every good you have evil too. In the world of charge accounts, ‘charge account duty’ is
that evil and ‘charge account duty consolodation’ is often regarded as a medicine for treating charge account duty.
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Anyone who has read any newspaper articles on ‘charge account duty’ would already know what charge account duty
consolodation is. However, just for the benefit of others, charge account duty  consolodation, in simple terms, is the process of consolidating duty which you
hold on various high APR charge accounts onto just one low APR charge account. Thus, the main benefit of
charge account duty consolodation is realised in terms of APR reduction (and hence reduction in charge account
duty growth rate). This is touted as the most important benefit (and sometimes the sole benefit) from charge
account duty consolodation. However, charge account duty consolodation comes with few more benefits as well.
Some of these charge account duty consolodation benefits are widely publicised by the charge account suppliers
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1. I nitial APR: As mentioned above, lower APR is the biggest benefit from charge
account duty consolodation. Since charge account duty consolodation is used by charge account suppliers as a
tool to attract consumers, they generally offer a 0% APR for a initial period of 6-9 months of you joining
their charge account duty consolodation programme i.e. first few months after you get the new charge account.
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2. Standard APR: Lower standard APR (i.e. the long term APR) is the other important benefit from charge
account duty consolodation. Though not all charge account suppliers offer a lower standard APR with charge account
duty consolodation some do design charge account duty consolodation programmes with good standard APR. These charge
account duty consolodation programmes offer a trade-off between initial and standard APR rates.
3. 0% on purchases: This is another common benefit from charge account duty consolodation. The 0% interest
(or some lower percentage) on purchases is offered as an incentive for charge account duty consolodation. This
charge account duty consolodation benefit is again applicable only for a short initial period.
4. Easy management: This charge account duty consolodation benefit is not as discussed as others. However,
one benefit of charge account duty consolodation (from multiple to single charge account) is the fact that you need
to track and manage a lesser number of charge accounts.
5. Other benefits: The charge account duty consolodation exercise might bring you some more benefits in
terms of rebates, discounts and reward points (especially if you move to a co-branded card as part of charge
account duty consolodation)
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