X Ways To Save Money with Your Credit Card

December 27, 2007 by Marcel

Being perpetually in debt seems to be a way of life these days, as I am sure many of you are aware. Credit cards are usually the main source of debt because they are so convenient to use and difficult to keep track of, but did you know that there are ways of using credit cards to reduce your debt and save money? Take a look at the tips below for an idea of how you can do just that!

1. Compare credit cards to obtain the best deals. There is a variety of credit cards out there that offer interest free deals, including balance transfers. If you compare credit cards then you could find a deal of anywhere up to 15 months interest free on balance transfers and save on the interest whilst giving yourself a chance to clear the debt in that space of time.

2. If you have to make a big purchase and do not have the money for it then you could also tap into interest free purchase credit card deals. These deals are often similar to the balance transfer ones in that you get a certain period of time to pay the credit card’s balance off before interest is applied, thus saving you money and reducing your debt. Again, compare credit cards to find the best deals.

3. Finally, there is a whole host of reward credit cards out there that offer cash back offers and various reward points. This can save you money and earn you a little bit back on your purchases, but some of the reward deals are incredibly poor so, again, you have to compare credit cards to find the better ones.

I’m sure that you can see the common theme here – compare credit cards! It is a must if you want to access the best ones. So many of the credit card comparison websites are complicated to use. To solve this problem take a look at About Your Money. The credit cards section is simple to use, complete with a comparison table and a guide to plenty of information. Choose the best ones for your situation, whether you want to save money or reduce your debt.

User submitted ideas

Try to obtain a credit card with lower interest rates than your current credit card and you can then use this credit card to pay off the balances on your other credit cards. By doing this, you are avoiding heavy fees charged by the companies and you are transferring your debts to the credit card with lower interest rates and so, you save money. But some credit cards charge a higher fee for transferred balances and so, you need to make sure that you choose the right card. Also, make sure that you can transfer your balance again to another card in order to save some more money. Use this tip with caution.

Send us ideas on paragraphes how to “Save Money with a Credit Card”.

7 Comments

Michael said

am January 10 2008 @ 9:48 am

I liked your X-ways to save credit on credit cards. They are worth to follow while you go out for shopping with your cards and even when you want to buy a new one. I think interest rate is the most important factor to be considered while choosing a credit card. Thanks for these awesome ideas.

Michael
Bad Credit Loan said

am January 30 2008 @ 2:37 pm

Yes great ideas. I always pay off my cc each month in full but if I ever need to make a big purchase and can’t pay in full I will want to look into those interest free credit cards.
EmilyStarbuck said

am January 31 2008 @ 11:47 am

There is also a way to MAKE money using your credit card, if you can do it wisely. It’s called credit card arbitrage, and it’s where you take out money from a 0 percent APR credit card, invest it, make interest, and then pay off the card and keep the money you made. Pretty good deal if you have the spare money and discipline!
Popular Credit Card Rewards said

am July 28 2008 @ 2:08 am

Nice job! this is a great post.

True, if you don’t use your reward credit card wisely, you can get easily stuck in credit card debts. Nevertheless, there are ways to minimize the risks and maximize your rewards. Let’s talk about these steps one by one in this related article:
6 Steps To Minimize Your Credit Card Debts and Maximize Its Rewards
Teenage Credit Cards said

am September 18 2008 @ 2:37 am

Your ideas are great when it comes to saving some moeny with your credit card. I want to go shopping right now and try the new things i learned.
Tracy Isaacson said

am December 21 2008 @ 10:34 am

It all depends on your background with the use of credit cards. For some people they need to do the old “freeze them in a block of ice” trick.
Urging You To Learn About Money - California Loan Find said

am December 21 2008 @ 8:26 pm

[...] X Ways To Save Money With Your Credit Card - this is all about what the title says and it was written by Marcel and posted on Financial [...]