Don’t be nervous about using your credit cards

13 October 2008

Almost every Australian has a credit card. In a time when many people are feeling the financial pinch, some people can't afford items straight away, but still need the everyday essentials. Even if you know you can afford them next week, that doesn't help you when you need them.

An example of this is medicines. Medicines are items you usually need straight away, but they're not always cheap. Knowing you can afford the medicine when your paycheque comes in is fine - but it doesn't help you when you're sick now.

If you use your credit cards wisely, you can buy your essentials and not fall into credit card debt. It's all a matter of careful money management. If you know that you can afford this item when your pay comes in, then you can probably afford to buy it now with your credit card.

Interest free credit cards usually have a short period where no interest is charged. These periods are usually up to 55 days. If you know you can pay off your items within the interest free period, you won't be paying any extra.

If you find yourself using your credit cards to pay for items frequently and are having no troubles repaying them, you might like to consider credit card reward programs. A rewards program can earn you cash back vouchers, gift vouchers to use instore, and other rewards.

One useful rewards program credit card is the Woolworths Everyday Money credit card. This great credit card rewards you for shopping anywhere - but especially in Woolworths owned stores.

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