Credit card tips
- If you're transferring your outstanding
balance from one card to another, you may be charged a reduced
interest rate for a certain period.
- There can be no doubt that credit cards
are used best when the full amount is repaid on time. If you
want to learn how to pay your credit card balance on time, every
time, check out the Shape of Money's consumer
debt management programme.
- The total balance outstanding on personal
credit cards at February 2007 was $4,545 million. Of that, New Zealanders are being charged interest on $3,150 million. With an interest rate of approximately 18.50% pa, credit companies receive another $580 million each year on top of account fees. That's almost $140 for every man, woman
and child in the country.