Settlement Loans

On average, each Australian owes about $3, 000 on credit cards and this amount continues to rise every year so it is important you know how you can deal with your credit card bills to not follow everyone else.

There are quite a few ways that the credit card companies can trick you into debt. One of them is minimum repayments which is a dirty little trick that some credit card companies use.

Another way that some credit card companies trick you is with balance transfer offers. The claimed ‘low interest’ or ‘no interest’ rate is only valid for the transfer of the balance itself and not to any further usage of the credit cards and therefore it is recommended that you take the scissors to the credit card as soon as you receive it in the mail from the credit card company.

Some credit card companies even sneak in some extra fees like “annual card fees” which could be up to $1, 000 but are usually a more reasonable amount but it all adds up. Other hidden fees like overdraft and late fees can cost you over $50 per instance.