Do you know how the credit card companies generally make their money? Their earning mostly consists of the payment made by the monthly defaulters. But if you use your card wisely, you will be able to avoid any kind of extra payment.
First, try to clear all the dues every month. If you are unable to do so, there are other ways to save money too. You can transfer you balance from a low-interest credit card to the high-interest credit card. But before opting for any scheme, make sure you have gone through the terms and conditions properly. The amount of late fees and other charges are quite high in credit cards. If possible enable the direct payment option so that the due amount is automatically debited from your bank account to your credit card. If you are unable to clear the total amount, at least pay 5 to 6 times the amount of minimum due balance.
Always keep an eye on your monthly credit card statement. Use the credit card properly and get the most benefit out of it. Build good credit points, which would help you in future financial transaction.
