Oooops, I forgot to pay for my credit card bill this month. Maybe because of the long vacation and another long weekend again, now I’m worried about the finance charges. I’ve always been a good payer, I love my BPI credit cards and I’ve been using it for 5 years already even if other banks lured me to their credit card offers. Why I’m worried about the finance charges, it’s because I’ve used it quite often since January. Blame it on my impulse buys at Etude House, online purchases at Amazon and Cebu Pacific’s seat sale. I only use my credit card whenever I’m doing the grocery, just so I can avail of their perks such as free Jollibee or Chowking meals, but this year, I went like a mad swiper. Do you think I’m doomed with a hefty finance charge?
For some, having a credit card is like a love-hate relationship. It’s a trial-and-error and continuous learning process to find what’s the best credit card that can satisfy your spending needs. Other people think of credit cards negatively and they shy away from the plastic card, but this isn’t always the case as long as you’re using it responsibly. I even wrote some tips on how to save money using credit cards by using all the perks, discounts and promos that come with the card. Always read the fine print when applying for a credit card, like interest rates, good customer service, annual fees, credit card limit, etc. Don’t be fooled by one time discount coupons, freebies, waived annual fees, etc. only to find out that you’ve chosen the wrong card for you. Don’t rush when taking decisions, take control of your finances, it’s your money after all.
In some instances that you made some wrong financial decisions and exorbitant spending, it may result to credit card debts. And in some cases, it really spells bad news, since interest rates would pile up month after month until you really can’t afford to pay your debt even for a longer time. But then, there’s a solution, you can make use of a credit card balance transfer wherein you get a new credit card with a lower interest rate and the new card will pay off the debt from your previous credit card. This should allow you to pay off your credit card debt on a much flexible term and for a reasonable amount.
And to help us to be financially savvy, we can all make use of CreditCardFinder.com especially if you’re in Australia to easily compare various credit cards.