Do you get nervous every time you hear the word ‘debt’? Well, I would say you should be, as the outstanding balances cost you every single month. But wait, this does not mean that you should stop using your credit card. Let us get familiar with the key credit card tricks that will help you save your hard-earned money -
Having The Right Rewards
Even though you already have a credit card, make sure you haven’t stopped shopping around for the rewards. These rewards will prove handy in augmenting your rewards. You have to see that these rewards also do match your lifestyle. If you travel regularly by air, then having free miles for air travel will surely do you the world of good. Compare the cash-back plans and make out where the points can be used, make a choice for the best rewards that can prove beneficial to you.
Make The Payments Before The Due Date
I know you don’t want to incur charges on your monthly expenses by any chance, but if you do, it will actually cost you more than less which is actually what this exercise is all about. If you can, make sure you zero your balance every month prior to the due date. If you are not able to, then make sure you have divided your long-term repayments into your budget.
Accept What The Company Offers
Credit card companies often offer various perks such as 6% cashback on gas purchase for a particular month, gift cards, etc. The trick is that, most of the times you have to claim them, and much like most of the mail-in rebates that hardly make it to your inbox, most of the people don’t.
Try and find out in what ways does your bank advertises their offers and make sure you keep an eye on them accordingly. There are probabilities that the bank may share promotions on the home screen once you log in. So, if you have a habit of not logging in regularly, then you are bound to miss these offers.
Offer Protection To Your Identity
If you are a regular online shopper, then applying some security measures will surely come handy. It is important you have changed your passwords and other login details on the websites you frequently visit; also make sure that the passwords are kept differently. One of the mistakes most of the users make is to write down the passwords, avoid making such mistake and try to memorize it.
If you have the access to your account on your mobile phone, avoid having automatic login information. If you lose your phone or if it gets stolen, the hacker will have full access to your account. If you are offering your credit card details, make sure you do in some private location, away from the strangers.
Beware While Consolidating Balances
Most of the cardholders believe that they get to save money by transferring their balances from one card to another for using their promotional offers, like 0% for some months. In fact, you should be cautious as most of the credit cards include a balance transfer fee. Prior to accepting them, it is imperative you have all the details of such offers.
So, if you are looking for saving your hard-earned money, the above-discussed methods will surely be of great help.
Adam Smith is a content writing professional at debtpro.co, an inbound marketing and sales platform that helps companies attract visitors, convert leads, and close customers. Previously, Adam worked as a marketing manager for a tech software startup. He graduated with honors from California University with a dual degree in Business Administration and Creative Writing.