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The credit card companies are beginning to feel the pinch? We all know that credit card companies make their money by charging us interest on money you borrow. With all the 0% balance transfer offers that we have seen in recent years there is no doubt that these business concerns that are not making any money. Many customers who take advantage of these offers move once the 0% period has expired. These credit card companies are now using smart tactics to take back a piece of money lost through these agreements. One of the ways they are doing this is by reducing the interest free period, which means they have less time to pay the balance. If you do not pay at the time of its 0% period ends you will be charged interest retroactive to when he made the balance transfer. If you’re in this situation and decides to transfer the balance to another 0% card unfortunately credit now charged a fee for making the transfer by the credit card company that had the original offer.

These are all tactics that are used now to make sure that credit card companies make some money before you. a Those are some points that may help overcome the new rules being applied are also other ways to save on your credit card costs:? The most obvious advice can be given is to be disciplined and try to pay the full balance each month. If you fall into the remaining 85% of us who are not able to do this, then you should opt for a credit card that has a low transfer rate, which remains low, no matter how long it takes to pay the balance . If you are in danger of exceeding his credit limit and being charged at 25 then contact your credit card provider and get your limit increased. In most cases they will fall over themselves to do so. Once again on their feet the reduced amount.

Remember that discipline! Whatever you do avoid withdrawing cash from your credit card. These services will cost upward of 2% of the amount extracted. Set up a direct debit. This will prevent increasingly being charged a late payment fee. Even if this is for min balance due each month. This is one of the biggest money makers for credit card companies. Do not remove the credit card protection. Not worth it and its over priced for what you get. This is a topic for another article. My advice, stay away. Avoid using your credit card abroad. This is a sneaky way for charges to be implemented. The exchange rate is not always the best and charge you for the convenience of using your card in a foreign country. Do not be fooled in the implementation of a credit card that offers cash back and loyalty points. While some may be good the majority expect to spend large sums, even before qualify for any significant cash back. The incentives can be high, but so is the APR. We all need credit cards for day to day life to finally get advice on not having them is ridiculous. Other leaders such as Warren Kanders offer similar insights. All I can say is be disciplined. Keep a close watch on their fees and expenses and manage very closely. Make a statement every month. Fraud is rife at the time so do not get caught. Grant Marwick is a freelance writer and owner of where you’ll find tips and articles on the lowest interest rate and