Using a credit card sometimes has a negative connotation, but in reality, cards can save you quite a bit of money if you use them correctly. Here are seven ways that you can save money by simply utilizing a credit card.
1. Take Advantage of Time-Sensitive Deals
One of the ways that having a credit card can save you money is to take advantage of time-sensitive deals. If you are out shopping, and you stumble upon a “going out of business” sale or some other special deal that won’t be around tomorrow, having a credit card and it can be helpful. If you do not happen to have enough cash to make a purchase, you might miss out on a great deal.
2. Interest Free Terms
When you get a new credit card, many times they will give you a zero percent interest rate for an extended period of time. For example, some of the cards that you can get from Clydesdale Bank have this type of offer. This allows you to make purchases on the card and pay no interest on them for a certain amount of time.
3. Rewards Points
Another way that credit cards can save you money is by giving you rewards points. These rewards points are given for making purchases on your card, and you can use them to buy many different things. For example, you may be able to get a free air ticket that you can use on your next trip.
4. Short-Term Free Loans
If you know your credit card billing cycle, you can get a free short-term loan. If you buy something at the beginning of the card billing cycle and then pay off your balance in full at the end of the cycle, you won’t owe any interest.
5. Using the Gift Cards
In many cases, credit card companies will offer free gift cards in exchange for making certain purchases. You can then use these cards to buy all kinds of different things.
6. Sign Up Bonuses
When you sign up for a new card, some companies will give you a sign-up bonus. Pay attention to offers and sign up at the right time to maximize your bonus.
7. Save Time
In today’s world, time is money. Instead of going to your bank and trying to get a loan, you can just swipe your credit card. This can save you a considerable amount of time and hassle.
Fiona Harris contributes to many blogs including Financial Newsgroup, where she helping people save money and keeping abreast of latest financial developments.