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How
To Use Your Credit Card To Really Save You Some Money |
Today it is very common to think of credit
cards as one of the major causes of so many people getting in debt.
While that certainly is true for some, it may come as a surprise to
you to know that by using a credit card in a certain way, that you
could actually get sizable savings. Here are some tips for getting
the maximum benefits of your credit card.
Get A Card With
0% Interest
If you have had your card for some time, then
you have already passed the limit of getting 0% interest on it. Of
course, if you regularly pay your credit card bills in full and on
time, then you already are practically getting 0% interest. When you
get a new credit card, you often are given a promotional benefit of
getting the 0% interest for up to 15 months. After that, you either
want to make sure you pay every bill on time, or get a new card.
Balance Transfers
This is another fantastic feature of a
good new card. By putting the balance from other cards that you are
paying a higher interest on, onto the new card, you can save a good
deal of money from the interest. Before you sign onto the new card,
however, check to see if there are any balance transfer fees, and
how often you can make a balance transfer. Some credit card
companies take away some of your potential savings by charging you
as much as 4% for any balance transfers. Other companies will only
allow you to use this feature when you sign up for the credit card.
Rewards
Apart from the other items that have been
mentioned, here is where you can get a lot of savings, too. The key
here is to know exactly what you can get rewards for. If you are
looking for a new card, then make sure that you get rewards for the
things that you buy the most. For instance, if you are a businessman
or businesswoman, and you have to travel a lot, then you want to get
a card that gives you a good percentage of rewards for either your
air miles, your gasoline, and / or for your hotel and restaurant
usage.
Daily Uses
Most credit cards also give you
the opportunity to get a percentage back of your daily necessities.
This includes things like your groceries, your prescriptions, and
your gasoline. The reward amounts range anywhere from about 1 to 3%
on this type of purchase.
The Key
As with any
credit card, you need to pay off the entire amount in full each
month. This is where many go wrong with their cards. Remember that
unless you actually do this, then it is costing you much more for
the credit card than it would if you use cash. By paying off your
bill each month, you not only enjoy the convenience of not having to
carry cash with you, but you could also see monthly rebates or
reward checks coming to you. This is where it could start getting
exciting, and you might actually start looking forward to getting
your credit card bill in the mail.
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