Stay Ahead of the Credit Card Game
Friday, February 20, 2009 9:20
During the time of credit crunch, manage your credit card debts well could be especially important as it could be of great help for you to save a lot of money. Here goes some top tips to stay ahead of the credit card game:
1. If you don’t have an interest-free card, consider repaying the balance in full each month, even if this means dipping into savings.
2. If you can’t repay in full, pay as much as you can—as soon as you receive the statement. Don’t wait for the payment due date as interest is charged right up to the date the credit card firm receives your payment.
3. Never simply repay the minimum each month if you’re being charged interest. It can take years to repay the balance on many credit cards if you do this—and you’ll be charged interest along the way.
4. Avoid late payment fees by paying on time.
5. Finally, a word about store cards. They might help you get a on-off discount but check the interest rate as this can be high. It’s best to avoid borrowing on them.
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