16 October 2008

As the global credit crisis worsens, Australia may be facing a recession and it would be prudent to focus on managing your credit cards with care so you don't run into financial difficulties if the worst occurs.

Prime Minister Rudd recently likened the government's response to the crisis to preparing for war. You can do the same with your credit cards.

If you do use your credit cards frequently, arm yourself with the best credit cards to help save you money.

Here are some tips to help you find the best credit cards to help you get through these tough times ahead.

Review your credit cards and consider a low rate credit card

Many people with credit cards don't know if their interest rate is high or low. When you compare credit cards, consider if a low rate credit card will benefit you in the long run. Compare Low Rate Credit Cards to find the best credit cards for you.

Consider a balance transfer credit card

When you consolidate credit cards, you end up with one owing balance. You then only have one interest rate and one annual fee to repay. Many balance transfer credit cards have introductory period deals that offer low or 0% interest! Compare Balance Transfer Credit Cards.

Pay more off your credit cards

Consider getting ahead in your credit card repayments by paying more by making fortnightly or weekly repayments instead of monthly. Try to pay back the full balance on your monthly bill and make use of the interest free period. Compare interest free credit cards.

Consider Credit Card Rewards Programs

Credit card reward programs can be very useful when used correctly. Many people have rewards programs on their credit cards that they never use. But reward programs can offer cash backs, gift vouchers, store vouchers and other goods and services.

One item that you won't be able to cut back on is groceries. Why not consider a credit card that will reward you for things you currently buy anyway?

The Woolworths Every Day Money Credit Card could be extremely useful if you already shop at Woolworths and buy petrol at Woolworths owned petrol stations.

Reward points are easily racked up with your weekly shopping bill. Just by purchasing items of the Woolworths Select range, you can earn 3 points for every dollar. Within a few months you'll have plenty of reward points and be rewarded with an instore shopping voucher. Just by purchasing everyday items on your credit card, you'll be able to save money.

If you team up the Woolworths credit card with their Every Day Rewards Card that keeps track of your 4c fuel discount offer so that when you use the Woolworths credit card to buy petrol using the ePump facility it saves you time and money.

Back to News Index | Back to Home