Beating the credit card crunch

May 2, 2008

Above: Credit card, use it wisely

Its May 2nd 2008, the world teetering on recession, this is effecting peoples spending habits, loans are getting more expensive and harder to get, how can you beat this. Credit Cards? its a risky gamble I have to say, let me state some tips with credit card debt.

• High interest sometime up to 15-20%,, try not to go for high interest ones, even with their sweet deals such as points clubard points, once you fall into debt its a continual pain in the ass. Look for low interest!
• I recommend Halifax royal bank of Scotlands credit card in Ireland and the United Kingdom.
• Make sure you know the minimum payments.
• Sign up to an online account if possible to track your transactions, keeping an eye will keep you in control.
• Know your minimum payment if your short of funds, avoid late payments.
• Also try to keep to less than 3 credit cards at most, anymore you can easily find it hard to juggle payments, unless you are availing of a credit transfer, with one of these promotions such as 0% on transfers for months or so.
• Do not use credit cards to withdraw cash, the charges can be high, if you have cash,use it when you can.

So look at these tips can certainly help you manage your money, remember credit cards should not be looked at as a flexible friend, doing this leads to a positive association to them and contributes to excessive spending. Credit cards should never be taken lightly, follow these rules above and you are on the way to manage your credit much better.

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Posted by admin under Credit Cards |