Credit Cards Can Help You Save Money

Credit Cards Can Help You Save Money
Highlights

Credit card companies come up with en number of schemes and offers to woo customers. It is easy to get carried away with these. It mostly happens without our knowledge that quite a bit of our savings are cut as charges.

Credit card companies come up with en number of schemes and offers to woo customers. It is easy to get carried away with these. It mostly happens without our knowledge that quite a bit of our savings are cut as charges.

If used smartly and cleverly credit cards can help you save money.

1) Using rewards points but not reward cards always
Different card companies have different point systems depending on the type of the card. Many reward cards come with higher interest rates as compared to regular cards. Credit cards give you an additional edge of saving money, but if you are in a habit of not paying the balance in full, don't go for one.
2) Choosing the best card
Choose a card that specifically suits your lifestyle. If you travel to your office in your own vehicle every day, a fuel card is a much better option than a reward card. On the other hand, if you are a regular shopper a shopping card would be preferable. If not, a cash back card will be a good option.

3) Saving on air travel
If you are a frequent flier, a travel-centric credit card is a must-have in order to get incentives on every ticket purchased and hotel booking made. The air miles accumulated can be swapped for your future trips. Using a travel credit card not only offers discount on the basic ticket charges but also an additional brownie for your next buy.
4) Catching up all good offers
Some promotional mails sitting in your spam folder might help you in saving, especially those from banks and credit card companies. Card companies run several offers from time to time, and many during festive time. This includes discount on shopping, dining and for swiping at some partnered spas and even at your fitness centre.
5) Playing it safe
If you come across a high yielding equity investment opportunity. But you don't have the money with your right now to invest. Don’t let it slip away, withdraw against your credit card and pay back very fast.
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