Interest Rate

7 Quick Tips To Manage Your Credit Card Smartly!

Mostly we all have credit cards. Indeed, Credit cards are important and convenient in our day to day transactions. But the major cons are interest and penalties if you fail to repay within the time limit.

But there are ways to manage and use your credit card smartly and not racking up debt.

So here are some quick tips:

1. Do not charge your credit card if you don’t have the cash on hand to pay your credit card bill.

2. Try to track down your credit card spending to keep your credit balance within the limit

3. Considering paying off any monthly balance in full. Or at least pay more than the minimum monthly repayments to save on some interest. Here is a Credit Card Calculator

4. A good way is to set up a direct debit to pay off a fixed amount of the credit of each day

5. Avoid taking cash advances as it mostly has higher interest and not a smart deal for paying for the convenience.

6. Even cash withdrawals come with fees and sometimes have a higher interest rate than purchase. Best is not to go for it

7. And finally, good payment habits or behaviour can pay off in future deals. Sometimes it can help you to negotiate to slim down your interest rate

These tips would help you to trim down your credit card debt and manage it effectively.

However, if you require any further help on debt management or loan services, please feel free to contact us.

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