Ten tips on using your credit card wisely
News from Stuff:


They are small, often cheerfully coloured, and have a glossy sheen. Don’t be lulled into a false sense of security. Their tiny size belies how much damage they can do if proper caution is not exercised.

Yep, we’re talking credit cards which New Zealanders have taken to in a big way – almost three million of the innocuous-looking plastic rectangles lurk in wallets across the country.

According to World Cards Intelligence (WCI) figures, New Zealand credit cards are swiped at the till, fed into an ATM or keyed into a computer an average of 91 times each year. And each year, the tower of outstanding credit card debt grows steadily higher.

Used sensibly, credit cards can be excellent for cashflow – a handy addition to any financial toolbox. But used foolishly, they leech an alarming volume of cash straight out of your wallet and into the bankers’ pockets.

And the holiday season is a parti…………… continues on Stuff

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Drain retirement fund to pay debt?
News from Yahoo Finance:

Dear Debt Adviser,
I have about $ 17,000 in credit card debt (I paid one card completely off — hooray!) and a total debt of about $ 33,000. I’m making my payments on time, and for several months I have managed to avoid charging anything on a card. I have about $ 150,000 in an annuity-stock account for retirement. It’s not much, I know, for someone over 50. The $ 150,000 grows slowly, while the credit card rate is almost 15 percent. Would it be a poor choice to use some of my retirement fund to pay off my debts? I’m hesitant about touching my retirement fund, even though I intend to work as long as I am healthy.
— David

Dear David,
Thanks for writing. Let’s put you…………… continues on Yahoo Finance

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