Using your credit card not always mean that you are getting into debt. You can also save money by using it! You just need to learn how to use it responsibly.
Credit cards are not usually considered an ally to save money. In fact, they are known as a way to generate new debt. Nevertheless, there are some ways in which you can wisely use your credit card to save some money.
The first two things you need to know to use your credit card responsibly:
- Don't charge what you can't afford
- Pay your balance every month
Based on these two rules, you should consider applying the following methods to save money with your credit card.
Use your credit card to save money
- Reduce your interest rate: You can start saving money by transferring the balance of your credit card to one with a lower interest rate.
- Pay with a cashback credit card: Take advantage of these cards to accumulate cash rewards. The more you use it to pay, the more cash you can earn.
- Credit cards with sign-up bonuses: Most of the credit cards offer sign-up bonuses, which means that instead of cashing back they offer you free hotel stays or points for airline miles. By spending a certain amount on your credit card, you can earn those bonus points.
- Credit card issuer's bonus mall: You can get special discounts for dining or certain products by purchasing through your card issuer's discount mall. Check the deals online and take note of the retailers offering discounts. This method may take a bit more time and dedication, but you can definitely save money.
- Claim for price adjustments: It's common to buy a product and then find out a few days later that they have adjusted the price. In this case, you can ask your credit card for a refund on the price difference. Not all credit cards offer this price protection benefit, so check first which are the steps you should follow. In some cases, you can register the claim through a special tool, while in other you need to provide the receipt and claim form.