- Ask Me
- My Money Plan
- Banking Right
- Buying A Home
- Buying Cars
- Credit Cards
- Financial Advisors?
- Insurance
- Investing Right
- Loans Done Right
- Money Scams
- Paying For College
- Paying Off Debt
- Refinancing
- Retirement
- Salaries
- Social Security
- Taxes Done Right
- Your Money

How To Get The Most Out Of Your Credit Card

The most valuable plastic ever created is no doubt the credit card. Its power allows you to have whatever material thing you want in just a single swipe. Of course all good things has its own price you have to pay back and that are the fees and charges that could break you if you don't know how to use it properly. Other than being a money eating monster, credit cards also have quite good qualities that you can maximize for your own benefit.

Knowing how to get the most out of your credit card offers a lot of saving opportunity for you. Taking these opportunities could greatly impact your financial situation by now luring yourself into spending and paying high interest rates afterwards. There are ways you can do to get the most out of your credit card like, rewards, cash backs, mileage, zero interest rates and more. What you need to catch all of these privileges is to keep yourself informed through brochures and newsletters inserted in your bill.

Let's talk about rewards, if you know how to use it you certainly get the best value for what you are paying for your other purchases. There are different variations of rewards out there depending on the card company. If you like getting more points so you could use it in exchange for premium items choose the credit card that offers the highest reward points, but mind you when I say these cards with large rewards are most often the ones with high interest rates so you have to watchful of that.

Cash back is another way to get the most out of your credit card. If you are using a grocery credit card, you can earn dollar points that you can accumulate and use for grocery items, Gas and even prescription purchase from drugstores. The average cash back per purchase is about 1% to 2% of every dollar spent, when accumulate it could be a potential savings for you.

Mileage advantage can be used if you are a frequent flyer, high end credit cards without annual fees, but pretty high interest rates offer the program for those who travel more often. The point system is in miles. Every purchase you make I equivalent to a specific number of mile that when accumulated can be used to purchase plane tickets.

Zero interest rates, this is the most popular way of saving some bucks when getting the most out of your credit card. No matter what the rewards program the credit card company has, there is always a zero interest rate program that you can also enjoy. When we say zero interest it means you will only pay for the exact amount of what you owe to the credit card. Normally there is a 3% interest charged on top of your purchase, but when it says zero that means you pay as is. The catch on these programs is the annual fee so you have to be careful with that.