Smart credit card usage in Singapore

Credit Card Skills You Need To Know

Optimise Card Spends

Credit Card Skills You Need To Know

It has never been easier to apply for a credit card, and companies are falling over themselves to offer the best deals and gifts to people with a regular income.

If you’ve been tempted to apply for a credit card, or already have one, there are a few simple rules to make sure that you make the most out of them. Sadly, some people have problems with handling money, and this is reflected in the way they administer their credit card accounts. However, it needn’t be this way, and if you obey these guidelines, you’ll never have a minute’s problem with your credit card experience.

Firstly, and this is important: Pay your credit card bill in full and on time. Don’t treat your credit limit like it’s “free money”, because it isn’t. You have you pay interest on anything left over at the end of the month, and let this build up and you can soon end up paying too much. Treat your credit card as if you would your own money. If you can’t afford something, don’t buy it – never support a lifestyle you cannot afford.

Read the small print. Your application and your card will come with pages of legal stuff. Make sure you understand what you’re getting into. If you don’t understand something, then ask. With complex deals, and terms and conditions, it’s easy to become confused.

This is especially true of special offers – sometimes they’re not that special. Take a look at the small print that comes with them, because they might rely on an extra spend, or may end up costing you more than you think. Insurance offers are a favourite trick, often for cover that you didn’t know existed, and you most certainly don’t need.

When your statement comes, read it through in full. This is especially the case if you use your card a lot, as it is easy to miss mistakes. Check out unexpected fees or hikes in interest rates; and keep a special look-out for card fraud.

Keep hold of lost card phone numbers. If you lose your card, or have it stolen, get it blocked immediately. The lost card number is useless if you’ve left it in the bottom of a drawer at home – keep it somewhere you can find it – in your wallet or on your phone. It might save you a load of problems later. And, of course: If you don’t know, ask! If something appears on your statement that you don’t understand, or you suspect your card’s being misused, call your card’s customer service department. They’ll only be too happy to help, even if you’re wrong!

If you use these skills wisely, then your credit card experience will be painless. Rule your cards – don’t let them rule your life. So if you are look for a credit card today, then take a look at our comparison table for the best credit cards in Singapore – Make an informed comparison with EnjoyCompare