This one is a no-brainer. Note, clearing your balance in full is not the same as clearing your minimum repayment, which could be significantly lower than the balance. Clear your balance in full and on time every month.
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Read on for our top tips on how to manage your credit card. So at the very least, credit card users should get to grips with how their credit card works.*
Indeed, only 14% in the Repbulic of Ireland and 18% of Northern Ireland credit card users said they have made a New Year's resolution to throw away their credit card in 2022. However, credit cards have always been hugely popular so, for the majority this is unlikely to happen. The best course of action is to clear the balance in full, bin the card and be done with it. This can throw their household budget out of whack and ensure they remain in a cycle of unnecessary debt. The reality with this lack of knowledge is that people will end up paying more than they anticipate when they use their credit card, as they are not factoring in the – often hefty – interest charged. Overall, the survey highlighted a significant lack of understanding on how interest is applied. Just over a third (34%) of respondents believe they pay less than 5% in interest. In Northern Ireland, those who responded that they are familiar with the credit card interest rate they pay, 21% think they pay between 6% and 10% while 25% think they pay between 18% and 24%. One fifth of these respondents believe they pay less than 5% in interest with over half believing they are paying less than 10%. In the Republic of Ireland of those who responded that they are familiar with the credit card interest rate they pay, 26% think they pay between 11% and 17%, while 38% think they pay 18% to 24%. Even among those in the survey who said they do know what interest they were paying, the results proved differently. Our latest research has revealed that although more than half of the population on the island of Ireland owns a credit card, a whopping six in ten have no idea what interest rate they are paying. Together, we can bring that much-needed personal touch to the finance industry.Do you really understand how your credit card works? Through their specialized CharityWorks committee, CardWorks makes it a priority to work with and fund a variety of non-profit organizations and initiatives, in hopes of improving the lives of those less fortunate and giving back to the local communities.Īt CardWorks there is no limit to your career possibilities. With operations in New York, Florida, Utah and Pittsburgh, the culture of CardWorks across its offices is founded on a commitment to integrity and has established a positive environment through its distinguished management philosophy- one that encourages accountability, open communication and an innate desire for continuous improvement.ĬardWorks is a socially responsible corporation. Over the past three decades, CardWorks is known for exceptional service, quality, and innovation.
At CardWorks, we pride ourselves on providing the very best end-to-end customer experience and support services.įounded in 1987, CardWorks is one the largest privately held providers of outsourced support services for credit cards and installment loans in North America.
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