Posts Tagged :

credit cards

Choosing a rewards credit card that’s right for you

Rewards credit card programs have exploded in recent years, offering everything from flights to merchandise to cash in your pocket. With so many options, it’s important to choose a rewards card that suits your lifestyle and preferences. Here’s how. What is a rewards credit card? Rewards credit cards typically work by letting you accumulate a certain number of “points” for every dollar you spend and you can later redeem these points for valuable goods and services like flights, household items…

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How to compare credit cards the right way

Comparing credit cards the right way can be rewarding, because there’s a credit card that can cater to almost every lifestyle and financial need. When you compare, you’ll be looking at everything from interest rates, to reward programs to promotional offers to fees. Compare credit cards by type of card Since you probably already know that closing your accounts too often can hurt your credit score, we hope you’ll keep your card for some time. That’s why it’s important to…

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Debt consolidation loan vs. balance transfer credit card – which one to choose?

When you consolidate your debt, you are essentially taking out one large loan and using that money to pay off two or more smaller debts. The two major ways you can do this is by applying for a balance transfer (BT) credit card or taking out a debt consolidation loan. This guide explores why you’d want to consolidate debt in the first place and then looks at your two options to help you determine which one is right for you.…

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Here are some of the best credit card strategies to help pay down your debt

If you’ve bitten off a little more credit card debt than you can chew, there are a number of tried and true credit card strategies you can use to whittle your debt down to nothing, or at least to more manageable levels.   First, we’ll look at some ways you can keep the debt from growing, and then we’ll look at how you can reduce it.  Credit card strategies to keep your debt from growing  The first step is to become…

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Personal loans vs credit cards. What you need to know.

A personal loan is about as straightforward as it gets when it comes to borrowing money. It can help you pay for something special like a car, holiday or home renovations, or to consolidate debt. With a personal loan, you borrow a specific amount and you make regular payments until it’s paid (along with the interest), usually one to five years. And for a long time personal loans have been in the shadow of credit cards. That’s because credit cards…

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Credit cards: What is a Low-interest or balance transfer credit card

How credit card balance transfers work If you find yourself in credit card debt, paying a huge amount of interest every month and never making any reduction in the balance because it’s all going in interest, a balance transfer could be your way out. In a way you would be paying off your credit cards with another credit card, but the crucial difference is that the new credit card may come with an interest rate holiday. (After a basic card?…

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What you need to know about balance transfer credit cards

A friend called me the other day in a panic because he suddenly realised he owed more than $2,000 on his credit card and had no way of paying it off in a reasonable fashion. “You work in finance,” he said, “what am I supposed to do now?” First I made him do the calculations to see how much interest he would pay on that $2,000. He’d blown it on dinners, drinks, and a new smartphone he didn’t need, and…

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How to: be more disciplined with credit cards

If you’re considering opening a new credit card, you may worry you’ll overspend and get yourself into trouble. And understandably so – the Australian Bureau of Statistics reported that the average household debt in Australia is $168,600, and the most common form of debt is credit card debt. So how can you use a credit card responsibly? Let’s look at the best ways to stay disciplined. Think of your credit card as a debit card A great way to stay…

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Four saving strategies for spring and summer

As the winter months come to an end in Australia, you’re probably antsy to get out in the warmer weather. But getting out more could also mean increased spending. If you’re trying to figure out how to save this spring and summer, easy ways to get a boost include sticking to a budget, using credit card rewards, having social functions at home and saving on energy costs. 1. Stick to a budget Sticking to a budget is easier said than…

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Life hack: How to beat credit card interest

If you’ve got a credit card but you’re sick of being stung with interest costs, you might be wondering how you can avoid paying interest but still use the card for the maximum benefits. We’ve broken it down. Credit card interest – the good, the bad and the ugly Each month, your card will tell you the total amount you owe on your account, and it will also tell you the ‘Minimum Payment Due’. You might choose to pay just…

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