How To Make CBA Richer

Want to make your bank richer? Whether you have a credit card account with Commonwealth Bank (CBA) or any other lender, there are a few simple ways you can help to increase the profits of their million and billion dollar empires. Here's how.

Richer Banks Tip #1 - Always Pay the Minimum Amount
When it comes to your credit card, you can make CBA richer by paying just the minimum amount. This will just cover the interest component of your credit card debt, which will give CBA the opportunity to make more from you in the future.

Richer Banks Tip #2 - Increase Your Limit At Any Given Chance
If you receive a letter from CBA saying that you are eligible for a limit increase, help make CBA richer by signing it and posting it back immediately. The higher your credit limit, the more you are likely to spend so the more debt you are likely to create. This means you will help to increase the amount of interest CBA will charge.

Richer Banks Tip #3 - Have Several Credit Cards
The more credit cards you have, the more money you can give to CBA in the form of interest charges and fees. When you use one card to pay off another, it's even more money for CBA as you increase your credit card balance.

See how easy it is to make the banks richer?

Seriously though, banks like CBA are rich enough. Try to avoid giving them more money that you absolutely have to by making a few changes to the way you spend and do your banking.

Unless you can afford to pay your CBA credit card balance in full at the end of your statement period, you should stop using your credit card altogether. There are other alternatives, such as Visa and MasterCard debit cards which allow you to use your card just as you would use a credit card for example, online, over the phone but you access your own funds rather than use credit and create debt.

Find out more about how you can make your money work for you, rather than increasing bank profits, by talking to your financial broker.

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