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.
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