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.