Avoid Unnecessary Credit Card Debt Charges
There are a number of unnecessary charges which credit card companies may try and charge you for. The more you know about these charges, the more that you can avoid unnecessary credit card debt charges which could otherwise cause your credit card debt to spiral out of control.
Dealing with your debts mean it is essential that you keep these credit card debt charges down, see if you have had to pay any of the credit card debt charges recently and how you can avoid credit card charges in the future:
1: Charge for late payment to your credit card debt. Having to make late payment charges is one of the most common ways of ending up with more credit card debt. The average late payment charge is dependant on your credit card company, but this could be anything from £12 to much more.
In order to avoid making late payment charge, you should set up a direct debt to ensure that it is always paid on time. Some credit card companies will only let you set up a direct debt for the minimum amount, but there is no problem with you paying more off your credit card debt if you feel as though you can do so.
2: Charge for going over the limit of your credit card debt. Going over your credit card limit is another is another common charge which is faced by many who are struggling with credit card debt. Many credit card companies will even charge you for going just a penny over your credit card limit, with the charge being as much as £30.
To avoid this charge, always ensure that you know how much credit you have available. And if you do not think you can afford your next purchase then try to make the payment through other means and avoid getting into more credit card debt altogether.
3: Transactions charges for foreign purchases. In most cases credit card companies will add an additional fee for making a transaction abroad. Many credit card holders are not aware of this charge, so it is essential that you are aware of your terms and conditions, otherwise your holiday souvenirs could cost you a lot more than you first though, and these charges could even send you over your credit card limit.