Tips for Credit Cards & Bank Account Fees

While in Commonwealth Bank yesterday, I came across two little flyers on bank account fees and credit cards. There were a few useful handy tips. Here they are:

Be Smart with Credit Cards

  • Use your card wisely – a benchmark is your average monthly spending on your credit card should be 20% of your credit limit.
  • Use a credit card with an interest free period.
  • If you don’t use your card for everyday purchases, choose the no annual fees credit card.
  • If you plan to use your card on a daily basis, choose credit cards with awards programs and earn award points.

Save on your Bank Account Fees

  • Don’t allow your accounts to become overdrawn.
  • Schedule regular payments so that you have enough to cover upcoming debits.
  • Suspend payments if you do not have sufficient funds to cover them.
  • Use only your bank’s ATMs.
  • Conolidate your accounts to save on monthly account fees.
About nadlique

This blog is about the journey of a 28-year-old Malaysian towards financial freedom. This blog was started back when the blogger was 21 years old. However, his journey towards financial freedom had begun way before that. Materials such as investing, business, entrepreneurship, equities, and real estate are presented. The author also posts his thoughts and observations on life in general.


  1. “Suspend payments if you do not have sufficient funds to cover them.” Well, OK, but things will just get worse, since the credit card interest charges will continue to accrue. I should think one would pay as much as possible, while not using the card any further. Or, do I fail to understand what this means?

  2. Hi there.

    Actually, the tips for credit cards and tips for bank fees are of two different topics altogether.

    The second one which was on Bank Fees are tips on how to save from paying too much bank fees for bank accounts in general, not for credit cards.

    “Suspend payments if you do not have sufficient funds to cover them.”

    A lot of people put to place DIRECT DEBITS or in Malaysia’s term, STANDING INSTRUCTIONS to automate payments. If you don’t have enough funds to cover these payments when it is due, there will be a hefty charge for that. I still remember once when I forgot that I don’t have enough money in my account and got it overdrawn. The payment was only AUD10 I think and I had only AUD4 in my account. I got charged with AUD30 overdrawn fees.

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