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Would you like to keep your credit card debt under control?
Credit cards are an incredibly convenient source of finance, but using them unwisely can attract high fees and interest.
Here we share some simple suggestions on how to use your credit card:
Choose the right card
Managing your credit card balance starts with choosing the right card. You will want a card that is versatile and easy to manage, with fair terms. Try to find a card that offers low interest rates and allows you to make additional repayments when you can. You want a card that suits your spending habits and is easy to repay. Our Visa Credit Card options are easy to maintain and are a good fit for most people.
Always pay on time
One of the most straightforward ways to manage your credit card debt is to consistently honour your repayments. Paying your credit card on time will help you avoid extra interest and late fees. If you can, try to pay off more than the minimum monthly repayments, thereby reducing the interest you are charged and paying off your balance faster. Consider setting up a monthly direct debit to redirect some of your salary towards your credit card to pay off your balance sooner.
Keep an eye on your spending
To regulate your credit card balance, continuously monitor your spending. These days it is so easy to manage your banking on the run, with Phone, Mobile and Internet Banking. Monitoring your transactions will help you stay within your limit. Being vigilant can also help you protect your card’s security. If you notice any abnormal charges, increased direct debits or charges by companies you don’t recognise, your card might have been compromised and you should contact us immediately.
Use your card wisely
Even though credit cards are extremely useful, you should not necessarily use them for all of your everyday expenses. If you are running low on cash before payday, try to cut down your spending rather than relying on credit cards to get you through. Check your credit terms to see if any transactions attract higher costs. Cash advances can attract a higher interest rate, so it is wise to limit these.
With our range of Visa Credit Cards you will always have access to the funds you need. Speak to one of our consultants about arranging a credit card on LiveChat.
