HOW TO SAVE ON CREDIT CARDS


One of the biggest problem about credit cards are high interest rate. When you already own money to credit cards , pay more than the minimum , as much as you can,(credit card companies collect extra interest when you pay only the minimum payment.

Also this will increase your available credit line Which combined with a good payment history can increase your FICO score.

Negotiate with the card company for better rates or fee. Ask your credit card company to lower your interest rate to match a competitor. Chances are, your credit card company might be willing to negotiate with you.


Another important point Stay away from credit card that offers rewards, like getting point every time you use your card and can be redeemed for airline tickets or other kinds of rewards,they aren't worth the risk of finding yourself deeper in debt.


If you have more than one credit card Pay the highest rate loans first rather than the card with the highest balance.Also make sure about your accounts because credit cards sometime could charge you with hidden fees or unexpected rate increases.


To eliminate the temptation of credit cards, Consider cutting some cards up. You could also close credit card accounts.



For more information click here :

http://www.cardweb.com/

http://www.bankrate.com/