Top Tips to Clear Credit Card Debt

Are you battling with credit card debt? Take action now ahead of end of financial year in order to clear your cards and kick July off with a clean slate.

Jeremy Cabral, Publisher of credit card comparison website, says, “Australians owe $50.1 billion on credit cards with less than a third of people repaying their credit card in full each month".

"By taking simple steps over the next couple of weeks, people can get their credit card debt in order and start the new financial year on better footing.”

He has following tips for credit card holders:

1. Eliminate recurring debits

Review your recurring credit card transactions and cull those you don't need.

2. Use cards over cash

Use your credit card instead of cash to help you keep track of transactions more easily.

3. Get your receipts in order

Use a service like ShoeBoxed to have your receipts scanned for you at

4. Separate business from personal transactions.

Set up your financial accounts correctly for the new financial year. This means isolating your personal transactions away from your business transactions.

5. Compare Credit Cards.

Do an online credit card comparison to ensure you have the best credit card for your needs. Now might be the best time to compare other cards on the market and switch to one that will help you make more of a saving in the new financial year.

6. Perform a balance transfer

This can save consumers hundreds of dollars in interest charges. For example, on a credit card with a balance of $3,300 and an interest rate of 18% p.a.; doing a balance transfer to a 2.9% p.a. for 24 month balance transfer offer could save up to $498.

7. Use Tax Return to Repay Your Credit Card Balance

Consider using your tax return to repay your balance on your credit card faster through a lump sum payment.
By taking simple steps now, consumers can save on their credit cards in the long run.

“Consumers should act now and prepare for the end of the financial year in order to maximise the benefits of their credit card from July 1st” concludes Mr. Cabral. is a free service for comparing credit cards offered by banks and credit unions in Australia.

For more info, visit

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