How to beat credit card debt



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No one likes to sit and talk about credit card debts; they’d rather be out shopping. But that’s how easy it is for innocent spenders to fall into harsh debts.

The first thing you should think about before getting a credit card is “Do I need one?” Many worry-free spenders are happy to use their savings and cash.

If you think that your needs definitely warrant one, consider how much you can afford to pay back each month. Many cards give interest free days, but after that, rates and late fees could skyrocket your debt.

If debts are getting out of hand, consider getting a lower rate card or even a personal loan to pay it off entirely. Then put scissors to plastic and ask your bank about their Visa or MasterCard debit card.

Use the table to the right to learn and apply for some of Australia’s lowest interest rate credit cards, all with balance transfer facilities to help you slow your debt.

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^Words such as "top", "best", "cheapest" or "lowest" are not a recommendation or rating of products. This page compares a range of products from selected providers and not all products or providers are included in the comparison. There is no such thing as a 'one- size-fits-all' financial product. The best loan, credit card, superannuation account or bank account for you might not be the best choice for someone else. Before selecting any financial product you should read the fine print carefully, including the product disclosure statement, fact sheet or terms and conditions document and obtain professional financial advice on whether a product is right for you and your finances.

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