Beware these credit card tricks and traps

One third of credit card users pay off their cards in full each month and don’t pay interest.

When a credit card debt is not paid off in full on time, most card issuers charge interest on the whole debt, back to the date of purchase. Plus when the debt is not fully repaid, the interest-free period on new purchases is extinguished.

Many researchers also warn that rewards programs require a big spend each month to be worth the extra fees.

Source: The Age

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