Repayments
Making Repayments
With a credit card you are not obliged to pay off your bill in full every month. Account holders will, however, need to make the minimum payment. This will be a percentage of your total bill and will need to be paid off each month, usually by direct debit, by cheque or over the counter.
It is a good idea to pay off as much of your credit card bill as you can afford each month, to prevent interest charges accumulating. Also remember that if you pay for your purchases before the interest free period has expired, you will effectively be borrowing for free. Be organised with your repayments and stay in control of your credit card.
Repayment Trouble
If you find that you are having difficulty in making your credit card repayments then the best thing to do is to contact your credit card provider. They may be able to work out an affordable repayment schedule for you. Whatever you do, do not just bury your head in the sand and hope that things will work themselves out. If you contact your credit card provider as soon as possible then they will be far more amenable and accepting of your situation.
If you find you are having problems with debt then there are a number of organisations that can help you, providing free and confidential advice. The Citizens Advice Bureau website provides details of their services and can help you to locate your local office. Other useful organisations include the Consumer Credit Counselling Service, Debt Questions and Debt Clinic. If you do happen to fall into unmanageable debt despite taking all precautions then the most important thing to remember is that you should confront the problem as soon as you notice it. This way, problems can be tackled before they become too big to deal with.
