Credit Cards

31 March, 2017

The more cost-saving measures you take, the more money you’ll save.You can easily save money on your credit card with very little effort by following  a few of the cost-saving measures.The type of credit card you take is the one that determines whether you can save money on it. Before taking a credit card you need to shop around and see which one benefits  you most.

A fixed low rate

Choosing a card with a fixed low rate is a good idea as you will know your repayments each month. You will have an idea of  the charges on your credit card, depending on your balance.

Beware of low  introductory offers

If you take a credit card and do not wish to use the available credit  on it on a regular basis but want to use a your card on one off purchase, choose a card that has low interest rate until you pay off the credit. Beware,  most credit cards providers that offer a very low rate at the start usually have their rates increased after short time. Credit cards companies prefer customers  who uses their credit cards regularly so that that they can benefit on interest.

Grace period

If you prefer to pay off the whole amount on you credit card every month to avoid interest, look for credit cards that has a grace period.  This allows you to pay off the outstanding balance with no charges.A card without a grace period will begin charging you interest the moment that the purchase is made.

Cash advance fees

Cash advances always come at a price, they is always a catch on cash advances. Most credit cards providers tend to charge interest at a higher rate for a cash advance.

Consider credit card protection

Taking credit card protection may seem like an unnecessary cost now, but credit card fraud has doubles in recent years.  Protection plan protect you from any unauthorised payments on the card.

Stay within your credit card limit

If you spend wisely and live within your means, you shouldn’t exceed your limit.

With all being said I would warn you thatspending  money you have (cash) is better than spending  money you do not have (credit card).Paying off that credit will  depend on many factor s .eg you still have you job your job.  In these hash economical times it is difficult to  know the certaintyof your future earnings.

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