Owning a credit card means that you have to keep track of how much you owe and make sure that you make timely repayments. It’s no secret that credit cards have some of the highest interest rates. There are ways to get cheap credit cards – you just need to know where to look and how to save more.
Use a budget planner to plan your spending. This is one of the best ways to plan ahead and be clear about how you will be using your credit card. This can help guide you towards getting the best credit card for your needs. You could opt for interest-free credit cards if you’re looking for cheap credit cards.
Beware of any monthly charges. You need to know exactly how much you’ll be spending on a monthly basis, so you can get access to cheap credit cards to suit your needs.
Know when your monthly repayments are due.
Set up a direct debit to pay your minimum monthly payment.
Make sure that you pay off the closing balance on your credit card in full each month.
Transfer your balance to a credit card with a lower interest rate. You’ll not only save money each month, but keeping track of just one statement instead of multiple statements can make life much simpler.
More credit card tips:
- Make sure that you use only secure internet sites when making purchases online.
- Never let your credit card out of sight when you make a purchase.
- Pay for items on your credit card to avoid taking out cash. This reduces your ATM withdrawal fees.
- When choosing a credit card, shop around and compare fees, interest rates and features.
- Pay more than the minimum repayment each month, to pay off your balance more quickly and save on interest.
- Know your credit limit.
