Save thousands by using these credit card tricks
Looking to stretch a dollar or, more accurately, your credit card points? You definitely can with good credit card promotion, shopping, effective planning, and discipline. In this article, we’re sharing top tips and tricks on how you can minimize travel expenses and make your credit card more efficient overall.
Choose the right card
This one is obvious but can’t be overstated. With so many credit card promotions available, you don’t have to settle on just choosing any card. This is true whether you’re a conventional user or an adventurer.
If you look to use your rewards points for air ticket redemption, you must make sure that you allow for point conversion to actual airline miles on your preferred airline at a good rate. Regrettably, many cards advertise as ‘miles’ cards when their miles are only redeemable toward a statement credit on booked travel via specific sites.
The number of points one can earn varies based on the credit card and the spending category, including air tickets, supermarkets, restaurants, etc., so it’s vital to use the card that has the highest earn rate for the purchases you make.
Let banks compete for you
There are so many competing brands with outstanding credit card promotions, so don’t get too comfortable with your current credit cards. Banks constantly outdo each other to get new customers, so be proactive in finding the right fit.
Regularly update yourself with the latest credit card promotion. The fact that offers constantly change with signing bonuses, terms, and conditions; rewards programs make it easier for people to acquire the best cards.
Look around to stay current. Allow yourself to check and apply for a new card if it offers better features than what you have.
Pay bills on time to avoid interest
If possible, try paying full each month to avoid accumulating any interest. Doing so will allow you to reach your goal of earning miles or other reward points for your credit cards.
Use sign-up bonuses for extra perks
Credit card companies often offer sign-up bonuses to entice new customers, so take advantage of these bonuses. Bonuses could come in many forms, including cash back, additional credit points, or other rewards.
For instance, a signing bonus of up to 50,000 points or miles is not uncommon. Note that many of these bonuses may come with a minimum spend condition within a certain period, so it’s crucial to time getting these cards with planned spending.
Stay in hotels for free
Some hotels will offer free accommodation day/s if a customer uses a particular credit card and books consecutive nights through the hotel’s travel concierge.
In many cases, though, you can also find a deal for the same hotel room that’s cheaper overall throughout, so it’s wise to compare before booking. If you skip it, though, you could forego a free breakfast. Some credit cards provide elite member status with hotel loyalty programs, entitling you to complimentary breakfast and even a room upgrade.
Credit cards come with risks as using them can get you high-interest, even life-changing, debt if you’re not disciplined or have improper planning. The rewards are tempting for hotel upgrades and other important rewards in the form of positive credit, which is vital for house hunting car purchases.
When handled correctly, there’s power in credit card perks! Don’t forget to visit several bankers’ websites to check for active credit card promotions. Spend wisely!