Considering the occasionally seemingly unquestionably necessity of maintaining good credit in an era of pliable economic strength and global commerce, knowing some credit card tricks that keep money in your pocket may become an important piece of information. Whether a young adult striding into their own financial independence for the first time, or a retiree needing to ensure that a contented lifestyle continues, credit cards tips have become a hot commodity.
Yet when it comes to using those pieces of plastic properly, credit card tricks that keep money in your pocket are all about utilizing common sense in a timely manner that is in line with budgeted spending. For businesses and personal use alike, there are some basic credit card tips that prove to have powerful long-term dividends.
Never Pay Interest
Interest fees are what credit card companies count on. Interest fees are why they publicize and encourage minimum payments. Interest fees are what get people into inescapable mountains of debt. Avoiding interest fees would be a credit card tip worth heeding, and one of the best credit card tricks that keep money in your pocket is to simply pay your bill; every cent, every month. This way, not only are you held accountable to avoid rampant spending, but that credit card company will never get a dollar more than it should. You will strictly only pay back what you have spent.
It may be a percentage back by type of product or service purchased, or it may be a package that includes premium or travel incentives. Whatever the case may be, your arsenal of credit card tricks that keep money in your pocket is not complete without doing your due diligence and researching your card’s options for rewards, and the rates and targets of those rewards. Once you realize you could be getting three times as much money back on gas purchases, or that you can get cash returned on certain groceries, maximizing your rewards may be on of your new favorite credit card tips.
Never Pay Fees
This may seem overly simplistic and brutally dull, but it still stands to reason: In order for this to be one of the credit card tricks that keeps more money in your pocket, you need to be aware in high detail of the fees, both overt and hidden, that are tucked behind your account. Then, simply avoid types of use that incur fees, and you have discovered one of the more worthwhile credit card tips. This may include ensuring that you use your card every month, not overdrawing, paying at a certain timing, etc.
Credit cards can be a boon or beast for their holders, and knowing the right credit card tricks that keep more money in your pocket is a key way to tilt the scales in your favor. Relying on credit card tips to keep you fiscally afloat, though, should instead just be a small part of your overall financial strategy.