Wallet essentials: stress-free credit cards

Consider these suggestions for reducing stress from credit card bills.

09:50 29 May 2013

The Educational Institute of Scotland conducted a survey that resulted in the belief that the curriculum workload in schools is too high. Teachers appear to be swamped with legal requirements that aren’t helpful according to many people.

 

It’s easy to feel overwhelmed, sometimes at work or home, and sometimes by our finances. Credit card bills are one of the things that can quickly become overwhelming for people. Here are a few ways to minimize stress and financial issues relating to your credit card bills.

 

• Read terms carefully—many times neglecting the “small print” on credit card bills, enclosures, or electronic notifications results in surprise fees and penalties that could have been avoided if the terms were carefully reviewed.

 

• Clarification—if something doesn’t seem right in the terms on your credit card bills, contact the company for assistance. Depending on the source of the confusion, the company may need to make an adjustment to its writing, or at the very least can offer you a proper and complete explanation that will hopefully answer all applicable questions.

 

• Introductory rates—familiarize you with the introductory rates and policies. Are the introductory rates for new purchases only or the entire balance? What about balance transfers?

 

• Fees—these cause stress for many people when they open their credit card bills. Paying early can help you avoid late fees, or setting up an online automatic payment using an available website are good ideas. Leaving a gap in your credit limit so you won’t go over the limit even after finance charges are assessed is another way to avoid unpleasant fees.

 

• Minimize—when finances get tough it might be easy to apply for another credit card, but not only do multiple credit card bills make it difficult to keep track of payments, but it also can be too tempting and wind up causing more stress.