CCCS of Southwestern Virginia, your preferred stop when seeking credit card management tips, can help consumers trim their expenses, develop a workable budget, lower their debt payments and repay debts. Consider the following to learn more about credit card management.

Fees
While comparing annual fees may be simple, other fees are less obvious. For example, be sure that you know exactly when late fees are assessed. Many cards charge a late fee if you are only one day late. Other fees to investigate include cash withdrawal fees, balance transfer fees and over-the-limit fees. Understanding fees will give you a starting point for credit card management.

Grace Period
The grace period is the amount of time you have until interest starts accruing. For example, if your grace period is 30 days, you will not be charged interest for the 30 days after the purchase date. A grace period only applies if you do not carry a balance. Most credit cards do not give a grace period for cash advances and balance transfers. Good credit card management techniques include paying close attention to payment dates and understanding grace periods.

Minimum Payment
According to the Consumer Action survey, the average minimum payment on all surveyed cards is 2.38 percent, with many lenders requiring only 2 percent payments. While this may sound good to cash-strapped consumers, it can easily lead to trouble. If you want to be debt free, call us for credit card management training.

If credit card debt management is your goal, contact us now. The experts at CCCS of Southwestern Virginia have 20 years of experience in helping consumers with credit card management.