Which profile do you fit?
When used correctly, a credit card is convenient, flexible and often comes with a range of benefits.
However, when used incorrectly, it can plunge you into an expensive cycle of debt.
That is why it is important to match the type of card you have with your budget, spending habits and ability to make payments.
What type of credit card spender are you?
- Habitual Spender - You struggle to pay off your credit card balance each month. If this sounds like you, find a card with a low limit, low interest rate and a minimal or no annual fee.
- Impulse Spender - Your card stays firmly in your wallet until you need it for an emergency, to do some Christmas shopping, splash out on a holiday or cash in on the end of season sales. It usually takes you a few months to pay off the balance afterwards, so look for a card with a low interest rate and a minimal or no annual fee.
- Everyday Spender - You use your card on a daily basis to purchase groceries and petrol, and you pay off the balance every month. As interest rates will not affect your finances, your biggest worry will be finding a card that offers great benefits at the lowest cost.
- Big Spender - You earn a lot of money, spend freely on your credit card and always pay off your balance in full. Look for a card that offers benefits that you use often like reward programs, special offers and exclusive deals.