Many people, particularly those that love to buy things over the phone or through the internet, have always considered cards as a necessity.
In fact, average Australians normally have multiple credit cards, ranging between three to ten cards.
However, the reality is that most people do not have to get multiple credit cards.
It is true that cards make life easier for everyone else.
Nevertheless, carrying too many cards does have its downside.
One of which is it makes credit card management difficult.
People who own many cards make it hard to get the most out of reward programs as well as knowing when each payment is due.
Credit card debt management is compromised and eventually, people with many cards might end up with a bad credit history because they cannot keep track of their payment dates! It will be increasingly hard to manage payments when you are struggling to pay each month with several billing statements.
Universal default clauses make matters even worse.
If you are unable to pay on time, the interest rate will skyrocket.
Saving time and money is crucial and the only way to do this is to start long-term card credit debt management.
So what can you do to start debt management effectively? Consider the following tips: Moving Balances If you can, start by moving your balances around so you will not have as many cards.
If say, you have one or two cards with room, set up a balance transfer to rid yourself of your smaller balance cards.
Reducing the number of cards you use will significantly increase the chance of managing debt effectively.
Synchronize Due Dates One of the hardest things multiple credit card holders have to deal with is the scattered payment dates which is why synchronizing due dates is the best way to manage debt and eliminate the need to pay for late fees.
Coordinating dates on your card is pretty simple.
All you need to do is to call customer service and ask them about changing the payment dates.
This way, you do not have to endlessly track each billing date and just pay everything in one go.
Pay Online Fortunately, most card companies have set up websites that makes it easy for cardholders to pay bills through the internet.
Instead of waiting and writing cheques and then mailing it back to your service provider, you can easily view your billing statement online and pay for it as well.
You not only save time and save money, you are will also be more efficient in terms of card credit debt management.
In fact, average Australians normally have multiple credit cards, ranging between three to ten cards.
However, the reality is that most people do not have to get multiple credit cards.
It is true that cards make life easier for everyone else.
Nevertheless, carrying too many cards does have its downside.
One of which is it makes credit card management difficult.
People who own many cards make it hard to get the most out of reward programs as well as knowing when each payment is due.
Credit card debt management is compromised and eventually, people with many cards might end up with a bad credit history because they cannot keep track of their payment dates! It will be increasingly hard to manage payments when you are struggling to pay each month with several billing statements.
Universal default clauses make matters even worse.
If you are unable to pay on time, the interest rate will skyrocket.
Saving time and money is crucial and the only way to do this is to start long-term card credit debt management.
So what can you do to start debt management effectively? Consider the following tips: Moving Balances If you can, start by moving your balances around so you will not have as many cards.
If say, you have one or two cards with room, set up a balance transfer to rid yourself of your smaller balance cards.
Reducing the number of cards you use will significantly increase the chance of managing debt effectively.
Synchronize Due Dates One of the hardest things multiple credit card holders have to deal with is the scattered payment dates which is why synchronizing due dates is the best way to manage debt and eliminate the need to pay for late fees.
Coordinating dates on your card is pretty simple.
All you need to do is to call customer service and ask them about changing the payment dates.
This way, you do not have to endlessly track each billing date and just pay everything in one go.
Pay Online Fortunately, most card companies have set up websites that makes it easy for cardholders to pay bills through the internet.
Instead of waiting and writing cheques and then mailing it back to your service provider, you can easily view your billing statement online and pay for it as well.
You not only save time and save money, you are will also be more efficient in terms of card credit debt management.