Using credit cards to make your savings and not washing them away

Advertising Disclosure

Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from many credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. Credit-Land.com has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » Research » Guides » Cardholder Benefits » Using credit cards to make your savings and not washing them away

Using credit cards to make your savings and not washing them away

By
Add to Favorites:

Credit cards have often been blamed for making people spend far more than what they intended to do. In fact, a lot of people end up paying the credit card bills for the expenses they unwittingly made, with the money that was supposed to be part of their savings. However, not all people see the credit card as a device to use up all their money even where there isn't a great need to spend. In fact, some credit card customers have gained a certain level of expertise at using credit card to make savings and getting the best deals in town.

Credit cards usually come with cash back offers and loyalty points

Some credit card holders are good at using credit cards to get the loyalty points and avail the cash back offers on the credit cards. Sometimes loyalty points can be redeemed for purchases at malls and super markets as well. Cash back offers too will help credit card customers to make some savings at grocery stores or gas stations. Saving a few hundred dollars a month on the discounts, cash back offers and loyalty points is a great benefit with the credit cards.

Interest free loan for more than a month

With loans hard to get and interest rates touching the skies, credit cards are often a great way of saving a lot of interest. Usually when a purchase is made at the beginning of a cycle, the credit card customers get a month and a little more in terms of grace period to make the payment. If the expenditure was big, e.g. for a flight trip across the world or a hotel stay, or a few appliances and furniture, customers save quite a lot on what could have been the interest on that amount for a month or so. Some people use this really well to make some extra savings.

Estimates of income and expenditure and controlling the flow of money

Credit card issuers generate monthly reports for your income and expenditure statement. This statement will help customers to find out where the money is flowing out, what the general categories of expenditure are and where money could be saved instead of wasting. In fact as per new reforms, credit card issuers also provide in the statement, the time it will take to pay off all the credit card debt if minimum monthly payments are made consistently.

Add to Favorites:
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.

Related Research:

How the Fed Rate Rise Impacts Credit Cards

How the Fed Rate Rise Impacts Credit Cards

By Credit-Land, Posted: May 25, 2017

Recently, the Federal Reserve hiked its benchmark rate by a quarter percentage point, as a result, you could see a rise of the interest rates on your credit cards by 0.25%. That was the first hike of the key rate in 2017 and the Fed ... Continue reading
Top 5 Credit Card Offers For Those With Excellent Credit

Top 5 Credit Card Offers For Those With Excellent Credit

By Credit-Land, Posted: May 25, 2017

Do you have excellent credit? If so, banks are actively looking to win you as a new credit card customer by offering some unprecedented deals. Although banks have been more careful about acquiring customers with questionable credit ... Continue reading
Interest Free Credit Cards: Pay No Interest Until 2019

Interest Free Credit Cards: Pay No Interest Until 2019

By Credit-Land, Posted: May 23, 2017

Carrying a balance on a credit card is wasting your money on interest fees. It is easy to avoid interest payments on purchase transactions by paying off the entire card balance by the due date each month. But what to do if you are already ... Continue reading