UK Financial advice on credit cards, uk mortgage, loans, car finance & debt consolidation.

Credit Cards

Credit Card Tips

Although there are very good deals on offer when it comes to credit cards, they do come with fees. People are often caught out when it come to credit cards and there different charges.

• Always try to pay off your entire credit card balance at the end of every month. If you do not pay the interest off in a short space of time you colid end up almost paying as much in interest charges as the item actually cost if you only make the minimum payment each month.
• Try to avoid taking cash advances on your credit card. Interest rates are usually much higher for cash advances than on your credit card purchases.
• Be extremely wary of offers to receive pre-approved credit cards with low interest rates and no annual fees for an upfront payment. Not only will you never see the card, you will likely never see your up front payment again, either.
• If you have decided to move your credit card balance to a new, lower rate credit card you must continue to make the minimum payments on your old car while you wait for the transfer to go through. Transfers can take up to 4 weeks and if you miss a payment to your old credit card issuer during this time, they will likely charge you a late fee which colid also adversely effect your credit rating.
• If you need a credit card try to get one with a no fee deal, although you need to consider other factors such as grace period and interest rates as well.
• When paying off your credit card debt try to pay off more than the minimum amount, this will save you money on interest charges.
• To avoid credit card late fees and a possible increase in your interest rate, simply send the minimum payment as soon as you receive your credit card statement. Send a second payment near the due date to pay off the balance.
• Of course there are many other ways of saving on your credit card, but with saying all of this the best saving tip I can give you is not to get into debt in the first place. Easier said than done I know.