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Checking in on your credit card debt

17 Nov 2016

Reduce the stress of credit card debt

Do you feel like you are caught in a never ending cycle of credit card debt? You are not alone. Many of us struggle to pay our mounting credit card debts that can blow out all too easily if we leave them unchecked.

Here are 10 things about credit cards to check and review regularly:

1. How are your payments calculated?
2. What is the interest rate that applies to purchases/cash advances?
3. How does your current interest rate compare with other credit cards?
4. How long is your interest-free period?
5. What is your annual fee?
6. What are the terms and conditions of any rewards schemes you might use?
7. Is it time to consider reducing your credit card limit?
8. Are you regularly making your minimum monthly payment?
9. Do you have more than one credit card?
10. Do you have additional card holders who use your credit card?

Once you have checked and reviewed your credit card you can determine your next steps to reduce your credit card debt.

Don’t delay, get started today.

This article is for general advice only and does not take into account your personal circumstances. For financial advice appropriate to your individual situation, consult a qualified financial advisor.

 

 

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