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How to avoid credit card debt this Christmas
Posted August 27th, 2009
and last modified December 2nd, 2009Whenever Christmas is nearing, most retail stores are busy preparing their sales, and for the flood of credit cards used for making purchases in buying gifts for their significant others. In 2008, Australians spent $36.95 billion dollars during the Christmas season at retail stores in Australia.
Using a credit card is indeed very convenient especially if you don�t have a lot of cash and you have to buy gifts for the Christmas season. Actually, there are a lot of ways that you can do in order to keep away from credit card debts especially during the holiday season.
A method of avoiding credit card debts is to take advantage of the promos being offered by credit card companies and banks in Australia. There are features such as buy now pay later in some stores whenever you use a specific credit card in their store.
Tips to help better manage your credit card during the Christmas Season
- Keep away from cash advances. Cash advances have a different interest rate and usually much higher as compared to the interest rate when you use your credit card to make purchases.
- Never let your outstanding debt accumulate. Pay your bills on time and do not let it to accumulate because it will just be piled up and it will be more difficult for you to pay it back.
- If you can�t immediately pay for your bills, try using a secondary credit card to pay for your primary credit card just to ensure that you won�t have delayed payments and avoid any penalty fees. Using a secondary credit card will definitely help you to pay for your bills and just pay that back on your next salary. A secondary credit card will also help you in case you badly need cash due to unexpected expenses. Be vary cautious in attaining a secondary card, and don’t spend more than you can afford to repay.
- Apply for a balance transfer credit card. A balance transfer credit card is becoming more popular especially in Australia. There are some Australian banks that offer zero percent interest rate in the first six months and low interest rates on the succeeding months once you transfer your debts to them.
What tips do you have to keep your credit card from reaching it’s limit at Christmas time? Please share your tips in the comments below!
Related posts:
- Avoid Christmas Debt By Planning In Advance
- Reducing your Christmas Credit Card debt
- 24 Tips On How To Manage Your Christmas Credit Card Debt
- How To Avoid Overspending On Your Credit Card Over The Christmas Holidays
- Christmas Money-Saving Tips
- Consolidating Your Christmas Credit Card Debt
- How To Survive Christmas With Your Card
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| Credit Card | Card Details | Interest Rate (p.a.) | Cash Advance Rate (p.a.) | Balance Transfer Rate (p.a.) | Annual fee | Interest free days (up to) | |
|---|---|---|---|---|---|---|---|
 St George Vertigo |
 Editor's Choice:Low Interest Low 2.99% for 6 months (reverts to 11.99%) p.a. interest rate and balance transfer rate, from one of Australia's most respected banks. |
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 Coles Group Source MasterCard | The Coles Group Source MasterCard has no annual fee, a 0% p.a. balance transfer offer for 6 months, with a rewards program including savings on fuel and FlyBuys Points | 19.74% | 21.99% | 0% for 6 months | $0 | 62 | |
 Bankwest Zero Platinum MasterCard |
Editor's Choice: No Annual Fee Excellent introductory offer with a $0 annual fee for the life of the credit card and a 1.99% p.a. for 9 months on balance transfers |
16.99% | 16.99% | 1.99% for 9 months | $0 | 55 | |
August 28th, 2009 at 5:27 pm
Just try to save your money wisely hahaha, it will workout.