Start 2017 on the right foot and discover how to get your finances in order

Your credit card may have been helpful when you were doing the Christmas shopping, but now, in the months that follow, you need to be careful that it does not end up playing the villain.

Every credit card comes with clauses that stipulate the holder’s responsibility to make payments on time; otherwise they will be subject to the dreaded interest rates – which are usually high.

The card provider usually issues due dates by which payments need to be made. This allows cardholders to plan their outgoings accordingly, something that should be managed in their favour, choosing to either pay the full amount by the due date or only a percentage of the total. The latter is the so-called revolving credit, which refers to the balance between the total amount due and the amount already paid, which is then subject to interest charges. These rates are generally not tabulated and vary by provider.

Therefore, you need to be cautious when opting for any type of financing and always be very aware of the interest rate offered, which must be stated clearly.

If you are experiencing problems with credit card debt or need assistance with financial or accounting matters, get in touch with BBMag service partners, available via BBMag’s Business Directory: www.bbmag.co.uk/business-directory