Some Ways to Save Money Using Your Credit Cards

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.