Do you own your credit cards, or do they own you? If you carry a big balance, then you’re paying a lot of interest. Even if you’re taking advantage of the rewards, you’re out some dough. Instead of allowing your credit cards to own you, why not take advantage of the best sign-up promotions and rewards programs while avoiding paying interest? You would then be owning those credit cards so to speak.
So what are the best credit card hacks? There are all kinds of benefits to having credit cards. Each card is a little different. One might come with an introductory rate and cash back rewards. Another might earn you miles for travel. As you can imagine, the card you get needs to fit your lifestyle. If you fly often, you might want the travel rewards card.
If you don’t fly often, you might want the cash back rewards card. Now, let’s say that you’re going to get a card that offers airline miles. One of the best hacks is to find the one that gives the best bonus miles upon signing up. You could have quite a few miles right out of the gate. You could get thousands of credit card miles just for filling out that application and getting approved.
Of course, it’s not always time to apply for a new credit card. If it is time right now because you need another one, then you want to take a look at which ones are best for you. If you’re looking for that airline miles card, you’re going to find them for sure. Now, some credit card gurus will tell you to apply for the cards, use the points and cancel the card. I’m not going to recommend doing that.
You can keep a 0 percent balance on your cards, however, earning rewards at the same time. When you keep a 0 percent balance, you don’t pay as interest as long as you make your payments before the grace period ends. If for some reason you do have a balance on a credit card, you can find credit cards that allow you to transfer balances over at a low introductory rate. Doing so routinely would be called surfing, which is another credit card hack.
I wouldn’t recommend doing that as a habit. Doing it once to keep yourself from having to pay tons of interest sounds like a great idea though. Then there is the fact that if you do it often, you aren’t keeping your accounts for long. You will have numerous accounts listed on your credit report, none of them open for that long. That’s not necessarily a good thing when it comes to your credit score.
There are all types of credit card hacks. There is free baggage, cheap currency exchanges and much more. See what perks come with the cards you already have, too. You may not have even realized that all of those perks are available. See how you can make your credit cards work in your favor and not against you in terms of interest charged by reading Credit Secrets Review’s website