Sure, a credit card could get you into deep debt but it
could actually save you money if you know how to use it right. Here are a few
tips that could help you save money using your credit cards.
1.
Rewards Cards
Credit card rewards are available for some credit card
owners, which help offset your expenses with the rewards they accrue. However,
these cards have very high interest rates. Paying in full each month helps you
spend more with credit card reward cards.
2.
Pay More Than the Minimum
Most credit cards remain free if you pay more than the
minimum fees you are entitled to pay monthly. However, if you could pay for
more than the minimum, you avoid higher interest rates that could plague your
financial status for years.
3.
Too Many Cards
Always research before you apply for a new credit card. It
is important that you limit your ownership of credit cards, especially the
higher-rate ones. Owning too many cards could spell you trouble, even if they guarantee
you good rewards or discounts from select merchant promotions.
4.
Cash Advances
Don’t make use of your credit card if you are not going to
swipe it in merchant stores. Cash advances usually add a 1-5% fee for every
cash advance you make.
