FREE TRAVEL INSURANCE?
It's not worth paying another set of annual fees for, but before you buy travel insurance, check with your credit card provider. Some cards provide free travel insurance if you pay for some or all of your travel costs by card.
WATCH THOSE “T & C”s
Often direct debits from a credit card are linked to a contract for goods or services which you have purchased.
As such it may be a term of the contract that you pay by direct debit. You could therefore be in breach of your contract if you cancel the arrangement. Make sure you check the terms and conditions, and if necessary seek professional advice.
Note also that cancelling a payment arrangement may not relieve you of your obligations under your contract with your biller. Check the cancellation terms and again… if necessary seek professional advice.
KISS YOUR INTEREST FREE PURCHASE PERIOD GOODBYE
Your ‘up to 55 day interest free’ period (which is really a ’25 days from the statement date’ period) only operates when you pay off the full balance by the due date.
So if you only make minimum repayments you’ll never get any interest free period at all.