Can A Credit Card Save You Money?

The mere mention of a credit card often conjures up images of instant debt, being followed by months, or even years, of misery. This is probably a true vision in some cases, however, if managed properly, the credit card can actually become a very worthwhile tool in your day-to-day spending.

Studying each card carefully, to see what it has to offer, and learning how to use it wisely may take you a little time and patience, but will hopefully be worth it in the end.

As with all companies that are offering to look after your money interests, there is stiff competition, and the card industry is no exception. This certainly puts you in a relatively good position, as they are all clambering for your business by offering more and more benefits with their cards.

First of all, if you are already paying interest on your present card, you can look at the option of transferring your outstanding balance to a different card altogether. This can help to save you money, as many card companies offer you the chance to transfer your debt to them at a much lower rate of interest - always read the small print though, as some are subject to balance transfer fees.

Many cards these days have also dropped their annual fee and some are even offering you a loyalty points system, which allow you to accrue points whenever you use your card and then turn the points into money which can be spent in their stores.

Other cards offer you points for every dollar spent on Home Improvement Net Purchases as well as other purchases. You can redeem every 2,500 points for $25 Cash, gift certificate, or a gift card.

How To Save Money With Your Credit Card

Once you have worked out which card is best for you, it is time to sit down and do some important calculations concerning your personal finances. It is worth remembering that the card companies only actually gain from you, other than the privilege of having your business, if they can actually make some money out of you - and yes, that means interest! If you pay off your card on a regular monthly basis and only use it to help to spread out your monthly expenditures a little, then it will work for you and not against you.

Finally, you must carefully work out your combined monthly income. Divide it up between the bills that you need to pay and putting a little aside for savings. Then see what you are left with. The amount you are left with will be your general spending for the month.

This money can be stretched to a further month with the use of a card. You must, however, ensure that you always have the money available in your account to pay the entire balance off each month when it arrives.

By constantly paying off your credit card each month, you can continue to have a month's free credit on your purchases and keep the money earning interest in your bank account instead of in theirs!

Search through more than 100 card offers here or, if you prefer, use our handy Credit Card Finder to fill in your details and find the best cards for you.

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Notable Quotes

We must learn that competence is better than extravagance, that worth is better than wealth, that the golden calf we have worshiped has no more brains than that one of old which the Hebrews worshiped. So beware of money and of money’s worth as the supreme passion of the mind. Beware of the craving for enormous acquisition. ~ Cyrus Augustus Bartol

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To achieve financial freedom, ideas such as: listening to good advice, learning how to make a budget, understanding credit repair possibilities, avoiding the scams, and generally becoming more knowledgeable of the credit card business, can all play a role in eliminating credit card and other debt. There is A smarter way to manage your money.


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