Tips From 4 Pillars In Victoria On The Best Options In Credit Cards

There are a lot of money management gurus that promote the idea of living a life based solely on using cash. Some of these money management experts do acknowledge the use of credit cards, but only if 100% of the purchases can be paid off within the initial billing cycle.

At 4 Pillars in Victoria, our debt consultants work with our customers to provide education on the best use of credit. While it is ideal to have the income and savings to be able to pay everything without carrying a balance on a credit card, we realize not everyone is at this financial place in life.

To assist in selecting the best credit cards, here are some practical considerations from our debt consultants. Each of these factors should be considered by anyone in Victoria thinking about applying for a credit card.

Special Offer Period and Interest Rate

The debt consultants at 4 Pillars often see people drawn into the initial free or low interest rates (0% APR) of a credit card. This may include no interest for three or six months, particularly when transferring a balance. However, it is the standard interest rates after the initial period that need to be considered. Always compare the standard interest rates carefully on any credit card.

Rewards Programs

Most credit cards offer some type of rewards program. This may be a cashback on specific types of purchases, points that you can use for purchases or redeem for travel miles. Consider the options and read the fine print before making a choice. Not all rewards programs are user-friendly, and many have more exclusions than inclusions.

Our 4 Pillars debt consultants provide education to our customers, helping them to learn the ins and outs of choosing and managing credit cards.