What are some really smart hacks and methods I can use when using a credit card that can work in my advantage and help me save money?

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  • 2 months ago

    1.  PAY the card off each month.   That will save you having to pay interest, which is high on credit cards. 2.  Find a card that pays you rewards.  Even if it is 1% over the course of a year it could add up to quite a bit of money.  3.   If you DO have a card that pays rewards then use it for as much as possible.  Instead of writing a check to the power company,  see if you can pay with a credit card with no penalty.  4.  If you have a bunch of debt on a card,  find a new card that has zero percent on debt transfer.  5.  If you are going to a store that offers 10- 25% off for your first purchase if you get a store credit card,  DO IT.   This is good if you need to buy a lot of suits or household goods or appliances.   You open up the credit card account,  buy all that expensive stuff,  get your discount then PAY off the card before the interest starts.   Then file that card away and do not use it again.   Better yet,   after six months,  cancel it.  (Too many credit cards hurt your credit score.)    6.  Try to avoid automatic payments with the credit card unless there is an EASY way to stop the payments.   Sometimes you buy an ongoing service and then when you decide you do not want it anymore it is almost impossible to find how to STOP the service.  7.   If you do not have money in the bank to pay for the purchase do not make the purchase.   The biggest pitfall of credit cards is buying stuff and then not having the money at the end of the month to pay it off.   You end up paying less and then that whopper of a interest rate UNDOES all of the above.  

  • 2 months ago

    Don't use a credit card.

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