Our top 6 tips for managing your credit card
A credit card is an easy way to pay for everyday purchases. They can also be a useful way to manage your money – if you know the tricks and avoid the traps.
Here are our top six tips for playing your cards right:
- Paying your everyday expenses with credit will allow you to keep cash in your savings account for longer, earning you extra interest.
- If that account is a Mortgage Offset Account linked to your variable home loan, you could shave countless dollars and pay off your home sooner.
- Always pay your credit card on time to avoid late payment fees.
- Set up an auto transfer to make sure you never forget a payment.
- Make the most of interest-free days. Some credit cards give you up to 62 days on purchases to pay without attracting interest.
- Try not to take out cash advances from an ATM as the interest rate is higher.