Are you paying too much for the privilege of using a credit card? You might not think so initially, but then again you might be surprised by how much your credit card is really costing you when you look at all of the different types of fees and interest rates you could be charged. Below is a list of many of those money-sucking expenditures, some that you’re familiar with and some that you might not be.
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According to analysts, credit card interest rates have risen without notice during the three weeks just past, and even more over the past two months.

Three of the four major Australian banks—Westpac, ANZ, and Commonwealth—all raised the interest rate on their basic low-rate credit cards, from 11.99% p.a. to 12.24% p.a. during the previous three weeks. The average credit card interest rate has risen to 16.12% p.a. while rewards cards approach 20%. In the last two months, rates on basic cards have risen an average of 0.38%. read more..

When it comes to credit card debt, or more specifically avoiding it, the general consensus seems to be “pay off your credit card balance in full each month.” What if you wanted to use that credit card as actual credit though, to finance a larger purchase without having to lay out all of the cash up front? Is it ever okay to finance purchases with a credit card, or does it always end up causing more problems than it solves?

Despite the bad reputation, credit card financing can indeed be a good thing. Here are a few examples of situations where financing a purchase using your credit card (and not paying it off in full right away) can be a decent option: read more..

Credit Card charges have been a much discussed subject over the last few years and one of the key issues raised has been how banks have failed to identify to new customers the actual value of the fees which would be charged if their account went over their overdraft or issued a debit greater than the account balance.

Charges are quite a hidden feature of any bank’s offer of credit and for good reason – they can be very damaging and they vary widely between banks. Below we’ve discussed and compared some of these rates. read more..

Do you apply for credit cards without worrying too much about the interest rates? If you always take advantage of interest free days you might — you would avoid interest payments altogether, regardless of the interest rate. But did you know that you might not always be eligible for interest free days?

Here are some situations where interest free days might not apply, or where you might receive fewer interest free days than expected: read more..