Minimise credit card fees

How to minimise fees and charges on your Credit Card Account

At St.George we are committed to educating our customers about fees and charges. An important part of this is letting you know the options available to help you minimise or avoid some fees and charges.

• Cash advances on your credit card
• Using your credit card when travelling
• Minimising interest payments
• Be responsible with credit
• Exception Fees

Cash advances on your credit card

Where possible, you should avoid advancing cash from your credit card account, instead present your plastic to merchants to make the purchase. This will avoid any cash advance fees that are payable when you use your credit card to withdraw cash from an ATM.

A different interest rate might also apply on cash advances.

Using your credit card when travelling

Credit cards provide you with a convenient and safe way of spending when you're travelling. You should be aware that currency conversion fees do apply, and these should be factored into your travel budget when considering your options while you're travelling.

Minimising interest payments

Many credit cards offer interest free days on purchases. If you pay your balance in full you can avoid interest payments completely by taking advantage of this interest free period. Remember though that some transactions, like cash advances, don't enjoy interest free days.

If you can't pay the entire balance in full, try and pay more than the minimum balance. By paying more than the minimum you'll be able to repay the outstanding balance sooner, reducing the interest payable.

Be responsible with credit

If you are finding it difficult to meet even minimum repayments on your credit card, talk to us. We understand that at times making repayments can be difficult, so contact us to see if an alternate repayment plan can be arranged. Before you get into trouble though, you should remember a few things;

• ensure you can afford a purchase before you make it. Ensure you're being realistic about when you'll be able to repay the balance
• avoid opportunities for unnecessary purchases by contacting us to reduce your credit limit
• try to develop a budget and stick to it. Track your spending on a regular basis to ensure you know how much you can afford.

Exception Fees

Exception fees are charged on a credit card when you don’t meet their minimum payment by the due date, or when your account balance exceeds your approved credit limit.

St.George's exception fees on credit cards

We have a number of ways for you to monitor the state of your account and ensure you avoid these types of fees through;

• Internet and Phone banking
• SMS and email alerts
• enquiring at any St.George branch.

Email alerts are free for all customers, and provide real time information of withdrawals, deposits and balance alerts. Customers can register for SMS and email alerts via Internet banking.

You can also avoid late payment fees by arranging for an Automatic Payment Plan on your credit card account. This ensures that at least the minimum monthly amount due is paid, with a direct debit from your nominated financial institution. Complete this form or contact us on 13 33 30. If you are making your payment by BPAY or personal cheque, please allow for standard handling times.