Today’s credit cards offer a real challenge in trying to use them productively. The variations in interest rates, cash-back incentives, and rewards programs can confuse consumers into making expensive mistakes. Here are three ways to avoid creating more of a monthly financial burden.
- Pay off your monthly balance to eliminate high interest rates.
- If you travel abroad, avoid foreign transaction fees by using the right card.
- Match your spending to the best card reward
With the average credit card interest rate running at 22.76 percent, it’s critical to try to pay off your monthly balance. Interest rate charges that accumulate can eat up a significant part of your monthly budget. Those who travel to foreign locations frequently might get hit with foreign transaction fees for any purchases made in that country’s currency. Look for credit cards that don’t charge these fees.
Cash-back reward programs can also help your monthly budget, and the trick is to have the right credit card that matches what you purchase. Since groceries are a big monthly expenditure, be sure to have a card giving you the maximum cash-back reward.
You Deserve the Income You Were Promised
You worked hard for so many years, and you deserve the benefits you are entitled to. That’s why Council of Seniors is working tirelessly to get Congress to pass The SAVE Benefits Act. Low Social Security cost-of-living adjustments (COLAs) withheld the amount of $581 from seniors, and it’s time for that money to go back into their pockets.
Signing our petition is a great way to start helping. Congress must prioritize responding to the growing number of Americans expecting action.
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