These days, life without a charge card would be hard to imagine. We now have become so used to the ease of "plastic", we don't leave home without having it. (Sound familiar? ) While you can't dispute the actual ease and convenience of not spending in cash at the supermarket, gas pump or pub, here are some handy charge card reminders. 1) Say no to cash advancesSome people just do not get it, but the bank does. The Interest-free periods offered on charge card accounts never apply to cash improvements. In the majority of cases, you will pay interest on the money right from the second you pull away it from the ATM or over-the-counter. The dollar penalty can really accumulate, so it's best not to get it done. Ever. 2) Watch out for Shop Cards. Loyalty can cost youHow often are you currently at the cash register and asked if you'd like to apply for a store greeting card? Probably plenty of times. Department stores such as David Jones and Myer may offer you the advantages of custome
r discounts, added warranties and prolonged credit, but they aren't cheap. Although you do not pay an annual fee, the rate of interest can be considerably higher (sometimes several percent) than alternative charge cards. It's fine to use them with regard to store specials and loyalty benefits, but pay the total amount in full by the due day. In this way you avoid becoming whacked with huge interest charges. 3. Select a card that matches your lifestyle. Think regarding your spending habits and patterns. For instance: if you use a card for extended credit and do not pay off the full balance every month, just a basic payment, choose a card having a lower rate. It may not provide any interest-free period, but the lower rate of interest should save you more dollars with time. If you use your card for everyday groceries or filling the car, go for credit greeting card with maximum interest-free days. Make sure you repay it in full each month. This way you get the advantage of up to
55 interest-free days upon purchases, as well as rewards, discount rates and frequent flyer points. But view the annual fees on rewards credit cards. 4. Interest-free periods are void unless a person pay in fullDon't let your credit card get free from control. To avoid paying interest in your purchases, you must pay the full balance - that figure in monochrome on your statement (not just the minimum payment required) through the due date. If you don't, end up being warned. You will be charged interest back to the date of purchase upon each item. In effect, you lose the interest-free period on those buys. 5. Search beyond the local banksThese times, there's a lot more choice available - not just the usual nearby banks. Look at credit unions, creating societies, community banks, boutique and on the internet banks. Chances are you may get offered better rates of interest or lower fees than the large banks because these new providers tend to be anxious to win business or they'r
e non-profit organisations. We put this theory towards the test. We tried HSBC and created 5 different types of credit greeting card. 6. Do you qualify for the "relationship discount"? If you consolidate your own banking business and finances with 1 lender or bank, you can be eligible for a a special treatment. Loyalty does possess its rewards. You can enjoy home and personal bank loan interest rate discounts, term deposit bonus deals, savings account fee waivers and obviously, credit card annual fee waivers. 7. Would you qualify for annual fee waivers? If spent enough on your credit card with an annual basis, some institutions offer in order to waive the annual fee. For example: If your card spend is a lot more than $5000-$10, 000 a year, you could choose a card with the benefits you want and avoid the actual annual fee. However, make sure you utilize your card to make purchases you had been going to make anyway. Spending up big with regard to reducing fees or earning rewar
ds factors is false economy. 8. Sweet offers? Don't be distracted by them. Introductory special discounts, fabulous reward programmes and special insurance coverage offers. Some lenders offer enticements on charge cards that can make a big impact on first glance. Be practical. Consider the overall, ongoing cost of credit associated with any card option. Compare the standard rate of interest, interest-free period and annual fees - and weigh these facing the real value (if any) from the added extras. Credit cards are excellent. But remember that you are the main one in control and responsible for your financial troubles. If you can't resist a bargain or perhaps a shopping centre blitz, leave the card in your own home. Pay cash.
Cathy Howley is actually Creative Manager and Copywriter at Choices Strategy, Melbourne. The digital agency using the strategy edge. http: //www. options-strategy. com Should you? re looking for a credit greeting card, you could try HSBC credit score cards.
View this post on my blog: http://creditcard.valuegov.com/be-credit-wise-tips-for-credit-cards-in-australia/
r discounts, added warranties and prolonged credit, but they aren't cheap. Although you do not pay an annual fee, the rate of interest can be considerably higher (sometimes several percent) than alternative charge cards. It's fine to use them with regard to store specials and loyalty benefits, but pay the total amount in full by the due day. In this way you avoid becoming whacked with huge interest charges. 3. Select a card that matches your lifestyle. Think regarding your spending habits and patterns. For instance: if you use a card for extended credit and do not pay off the full balance every month, just a basic payment, choose a card having a lower rate. It may not provide any interest-free period, but the lower rate of interest should save you more dollars with time. If you use your card for everyday groceries or filling the car, go for credit greeting card with maximum interest-free days. Make sure you repay it in full each month. This way you get the advantage of up to
55 interest-free days upon purchases, as well as rewards, discount rates and frequent flyer points. But view the annual fees on rewards credit cards. 4. Interest-free periods are void unless a person pay in fullDon't let your credit card get free from control. To avoid paying interest in your purchases, you must pay the full balance - that figure in monochrome on your statement (not just the minimum payment required) through the due date. If you don't, end up being warned. You will be charged interest back to the date of purchase upon each item. In effect, you lose the interest-free period on those buys. 5. Search beyond the local banksThese times, there's a lot more choice available - not just the usual nearby banks. Look at credit unions, creating societies, community banks, boutique and on the internet banks. Chances are you may get offered better rates of interest or lower fees than the large banks because these new providers tend to be anxious to win business or they'r
e non-profit organisations. We put this theory towards the test. We tried HSBC and created 5 different types of credit greeting card. 6. Do you qualify for the "relationship discount"? If you consolidate your own banking business and finances with 1 lender or bank, you can be eligible for a a special treatment. Loyalty does possess its rewards. You can enjoy home and personal bank loan interest rate discounts, term deposit bonus deals, savings account fee waivers and obviously, credit card annual fee waivers. 7. Would you qualify for annual fee waivers? If spent enough on your credit card with an annual basis, some institutions offer in order to waive the annual fee. For example: If your card spend is a lot more than $5000-$10, 000 a year, you could choose a card with the benefits you want and avoid the actual annual fee. However, make sure you utilize your card to make purchases you had been going to make anyway. Spending up big with regard to reducing fees or earning rewar
ds factors is false economy. 8. Sweet offers? Don't be distracted by them. Introductory special discounts, fabulous reward programmes and special insurance coverage offers. Some lenders offer enticements on charge cards that can make a big impact on first glance. Be practical. Consider the overall, ongoing cost of credit associated with any card option. Compare the standard rate of interest, interest-free period and annual fees - and weigh these facing the real value (if any) from the added extras. Credit cards are excellent. But remember that you are the main one in control and responsible for your financial troubles. If you can't resist a bargain or perhaps a shopping centre blitz, leave the card in your own home. Pay cash.
Cathy Howley is actually Creative Manager and Copywriter at Choices Strategy, Melbourne. The digital agency using the strategy edge. http: //www. options-strategy. com Should you? re looking for a credit greeting card, you could try HSBC credit score cards.
View this post on my blog: http://creditcard.valuegov.com/be-credit-wise-tips-for-credit-cards-in-australia/
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