Expert issues credit card advice

Australian consumers looking to compare credit cards could be among those to benefit from recently-published advice on how best to manage their accounts.

Writing for the Sydney Morning Herald, Anneli Knight shared some tips on how to keep interest costs and fines down for credit card customers.

"Make sure you try to clear the balance of your credit card each month to avoid unnecessary interest charges," she advised.

"However if this is not possible, ensure you at least pay the minimum amount and that you pay it by the due date. It's important to remind yourself that when you use your credit card it's not your own money so you need to think about whether you can really afford to pay it off."

The expert added that customers who feel they are unable to consistently pay off their balance should reconsider if a credit card is the right financial product for them.

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