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How to Save Money on Your Credit Cards
Credit card companies make their money on the 85% of us who
fail to pay the outstanding balance each month. Even if you are
not in a position to pay the balance each month you can still
save some money if use your card wisely.
The first and most obvious way to save money is to pay the
balance each month. However if this is not possible then there
are ways to save money. Moving money from credit card to credit
card to take advantage of interest free balance transfers and
effectively borrowing money for free. Be sure to read the terms
and conditions on each card before you transfer.
Pay your credit card bill on time and avoid late fees which
can cost you up to $40 each time. Check the payment option and
guidelines on your bill. The best method of avoiding late fees is
to setup a direct debit for the minimum payment each month.
Keep a close eye on your fees and charges and manage them very
closely. Check you balance statement every month. Avoid
withdrawing cash from your credit card. These services will cost
you from 2% upwards of the amount drawn.
So the bottom line is by using your credit cards wisely you
can reduce adverse effects of credit cards and maximize the
benefits by spending wisely, using self-discipline, and paying
off your balance as quickly as possible to avoid unnecessary
fees. Credit Card Tips
(c) Noel Hynes, 2005. Reprint rights granted to copy and
publish this article as long as the article and by-line are
reprinted intact. Credit Card Tips
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