CREDIT card interest rates continue to sting customers as many remain unclear on how to optimise their interest-free periods.
While banks are showing no signs of dropping their rates on plastic, latest findings from financial comparison website Finder.com.au shows card users can enjoy interest-free periods as long as nine weeks before charges kick in.
THIS is how you can avoid paying ATM fees ever again
The sites database found interest-free periods on cards range anywhere from 44 days up to 62 days.
A majority of cards (about 70 per cent) available have 55-day interest-free periods so it pays to choose your card carefully to make sure you get as many interest-free days as possible.
However, once interest charges do kick in, rates hit hard at an average of 17 per cent./span
Finder.com.au spokeswoman Bessie Hassan says card users need to know the ins and outs of their interest-free period to ensure they use it to their advantage.
Try and pay your accounts outstanding balance in full before each due date and youll avoid getting stung by accruing interest,’ she says.
If you dont pay in full by the due date youre also likely to lose the interest-free status for that billing cycle as well as the next one because the amount due will carry into your next bill.
Every credit card has a different due date, so its critical consumers pay attention to this and know when their interest-free cycle starts and ends.
If you are making a larger purchase that will take you some time to pay off, try and do it early into your interest-free period as it will give you more time to pay it off.
AMP financial planner Mark Borg says it pays to look at all charges associated with a card, and not just focus on the interest-free days.
The first thing you can before you grab a card is to know the annual fee because many of the cards have charges around $150,’ he says.
Many institutions also allow for direct debits so you can tick a box and at the end brof each month you know your account will always be paid off in full.
CONTROVERSIAL property developer and former politician Salim Mehajer has angered his usually loyal legions of social media fans by congratulating Donald Trump on his win in the US Presidential elections.
Mr Mehajer also hinted that Mr Trumps success has reignited his ambitions to be prime minister.
The former Deputy Mayor of western Sydneys Auburn council which has since been disbanded is on a whirlwind trip around Europe and the Middle East with stops in Beirut, Athens, Milan and Paris.
The holiday has been thoroughly documented on his Instagram feed.
From the tarmac at Spains Barcelona Airport, Mr Mehajer snapped an image on Tuesday night of himself raising a glass of orange juice to Mr Trump success.
He appeared to compare his own coverage in the media with that of Mr Trumps.
Whats meant to be will always finds its way, he wrote. Even with all that negative media stigma, they still couldnt stop Trump.
Given President-elect Trump has railed against Muslims, and Mr Mehajer is a practising Muslim, some of his followers who are usually full of praise for the mogul were underwhelmed by his endorsement.
How could you support such a disgusting human being that despises your own religion? wrote one person, in a post that has since been deleted.
I agree, wrote another in reply. Its a shame to see todays Muslims support those who oppress the people of their religion.
Are you completely oblivious? To endorse a man of such a hateful and prejudicial nature honestly baffles me! said another.
While another was more succinct. Hed f*** you and throw you out of the country in a heartbeat.
At one point during the election campaign, Trump called for a total and complete shutdown of Muslims entering America but he has changed this to the more vague plan to temporarily suspend immigration from dangerous and volatile regions.
Mr Mehajer concluded by saying, The winner be the one that everyone doubted.
This could be an enigmatic reference to his own, widely derided, plan to run for Prime Minister.
Last October, in possibly one of the most awkward interviews ever, Mr Mehajer stood presidentially behind a lectern now estranged wife Aysha standing behind him as he stated his ambition to get to The Lodge.
I would like to start off by being in state, federal and I would like to make my way up to the very top spot. That would be my dream come true, he said.
If an opportunity knocks on my door I am always willing for a challenge.
Radio 2GBs Ray Hadley was doubtful of his prospects. If brains were dynamite, he wouldnt blow his ears off, he said.
An inquiry into the conduct of councillors, earlier this year, at the former Auburn Council called upon Mr Mehajer on several occasions.
While the inquiry has yet to be released, indications suggest Mr Mehajer will largely be cleared of wrongdoing allowing him to restart his political career.
With Trumps win in the US, perhaps it is unwise to write of Mr Mehajers chances for a political comeback in Australia.