8 June 2017

Set winning credit card habits

Like an athlete at the top of their game, forming good spending habits and staying on track requires training. When it comes to having a credit card, being able to recognise potential pitfalls will make it easier to avoid issues and have you finishing a winner. Feeling secure and confident in your ability to be a credit card Olympian will help you make even better choices and achieve financial gold.

Track your expenses

Staying on top of your spending is a really important part of managing your credit card. Check your statement online or through your app a few times a month, avoid using the card for purchases you can’t afford, use a budget and be strict with the type of purchases you outlined for the card originally.

Be reliable

Pay your statement on time, every time. Setting up reminders is a great way to stay on top. With our Orange One card, you can set a pre-bill reminder to give you a heads up when your bill is due. Your repayments can also be automatic to help you never miss a repayment. It’ll come straight from your preassigned Orange Everyday, Saving Maximiser or other eligible ING accounts.

It’s also important to make sure you stick to your limit – you can get notifications when you’re close to your limit for the month with ING’s Orange One card.

Understand credit

When it comes to credit, knowing what it is and how to avoid forming overzealous spending habits is imperative. Treated right, credit can be your friend, as using it in the short term can help your money work for you elsewhere. Let’s say you’ve got a mortgage offset account. It might be better at the time to keep your funds in that account to receive the interest benefits, while using your credit card for immediate purchases. A key thing to keep on top of is interest. If you miss a payment, interest can build up which means it could cost you more. Stay on top of your payment dates and aim to pay in full.

Have a game plan

Setting clear financial goals each month is the best way to achieve success. Without a destination, it’s hard to stay motivated to reach the finish line. A credit card can be a key weapon in your financial team, so work out ahead of time what you will and won’t use it for. Your goals will evolve over time but stay on top by checking in often and staying dedicated to achieving your financial best!

By keeping these credit card best practices in mind, you’ll be the Usain Bolt of personal finance in no time flat.

Staying on top of your credit card use is easy when the card suits your lifestyle. To find out more about ING Orange One’s features, visit here. 

Information and interest rates are current as at the date of publication and are subject to change. Limitations and exclusions apply to the establishment of instalments, including minimum purchase values, number and term of instalments. Interest free period available only where entire revolving balance plus monthly instalment amounts are repaid in the previous statement period. All applications are subject to ING’s eligibility and credit assessment criteria. Fees and charges apply. Any advice on this website does not take into account your objectives, financial situation or needs and you should consider whether it is appropriate for you. Before making any decision in relation to our products you should read the relevant Terms and Conditions, Fees and Limits Schedule, Key Facts Sheet, Credit Guide, Cashback Rewards Terms and Conditions and Complimentary Insurance Terms and Conditions available at ing.com.au. To view these documents you may need Adobe Acrobat. Products are issued by ING, a business name of ING Bank (Australia) Limited ABN 24 000 893 292 AFSL 229823, Australian Credit Licence 229823. Rebate Offers for Orange One and Orange One Platinum Customers.  The Global ATM Rebate Offer and the Foreign Currency Conversion Fee Rebate Offer will apply for the next calendar month when you perform the following during the current calendar month: – deposit at least $1,000 from an external bank account to any personal ING account in your name (excluding Living Super and Orange One), and also make at least 5 card purchases using your ING debit or credit card (excluding ATM withdrawals, balance enquiries, cash advances and EFTPOS cash out only transactions). Card purchases includes in store credit or EFTPOS purchases, online purchases, regular card payments, payWave, Apple Pay, and Google Pay transactions made with an Orange Everyday Visa card, Orange One or Orange One Platinum Visa card or Nil Interest Visa card provided with an eligible ING home loan. Card purchases made in store or online this current calendar month which settle next calendar month do not count towards the 5 card purchases needed this current calendar month. When determining if you are eligible under the offer, we also take into account the behaviour of any of your joint account holders or additional cardholders. If eligible: for ATMs in Australia – any ATM fee charged by the ATM operator is rebated immediately following the transaction, for ATMs outside Australia – ING will rebate the International ATM withdrawal fee of $2.50 immediately after it is charged and rebate any ATM fee charged by the ATM operator at settlement of the transaction. While the transaction is pending the amount of the acquirer fee will be deducted from your available balance and will be reinstated after the transaction is finalised. ATM transactions outside Australia can take up to 5 business days to finalise, and  – for ING international transaction fees. ING will rebate the Foreign Currency Conversion Fee of 2.5% of the amount of the international transaction immediately after it is charged. Merchants may charge you a separate fee for their services (which is not rebated under this offer). This offer may be changed or withdrawn at any time at ING’s sole discretion. The ING cash advance fee is not rebated under this offer. Apple Pay is a trademark of Apple Inc., registered in the U.S. and other countries. The Apple Pay Terms and Conditions for ING customers are available to consider when setting up Apple Pay on your eligible iOS device. Android Pay is a registered trademark of Google Inc. The Google Pay Visa Debit Card Terms and Conditions for ING customers are available to consider in the Google Pay app.

The information is current as at publication. Any advice on this website does not take into account your objectives, financial situation or needs and you should consider whether it is appropriate for you. Deposit products, savings products, credit card and home loan products are issued by ING, a business name of ING Bank (Australia) Limited ABN 24 000 893 292, AFSL and Australian Credit Licence 229823. ING Living Super (which is part of the ING Superannuation Fund ABN 13 355 603 448) is issued by Diversa Trustees Limited ABN 49 006 421 638, AFSL 235153 RSE L0000635. The insurance cover offered by ING Living Super is provided by Metlife Insurance Limited ABN 75 004 274 882, AFSL 238096. ING Home and Contents Insurance is issued by Auto & General Insurance Company Limited (AGIC) ABN 42 111 586 353 AFSL Licence No 285571 as insurer. It is distributed by Auto & General Services Pty Ltd (AGS) ABN 61 003 617 909 AFSL 241411 and by ING as an Authorised Representative AR 1247634 of AGS. All applications for credit are subject to ING's credit approval criteria, and fees and charges apply. You should consider the relevant Product Disclosure Statement, Terms and Conditions, Fees and Limits Schedule, Financial Services Guide, Key Facts Sheet and Credit Guide available at ing.com.au when deciding whether to acquire, or to continue to hold, a product. Before interacting with us via our social media platforms, please take a minute to familiarise yourself with our Social Media User Terms https://www.ing.com.au/pdf/Social_Media_User_Terms.pdf.

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