How to Make Money Using Your Credit Card
Credit cards are often portrayed as money losers by most magazines and websites, however some positive benefits to having a credit card.
If you get the right credit card, you can actually use it to make some extra cash for yourself. Here are a couple of ways that you can make money using reward programs with your credit cards…
Everybody loves cash and for good reason!
Cash back programs will often offer between 1 and 5 percent cash back to customers on select purchases. There is typically a minimum amount that must be spent in order to qualify to receive cash back.
Try automating all of your regular bills so that they charge to your credit card and then train yourself to just pay off the credit card at the end of the month. It’s a great way to instantly reduce your monthly expenses by a 1% or 2%.
Unforntualtey, a lot of credit card companies have recently dropped their airline mile reward programs. However, if you have good credit try using a credit card comparison website to find one of the remaining program.
Miles reward programs are great because customers can earn free trips to wonderful destinations by using their cards for everyday purchases. Some programs will even offer you bonus reward miles for making purchases at the grocery store and gasoline station.
Bonus points are probably the number one perk offered by credit card companies. Customers earn points for all of the charges that they make and these points can be redeemed to purchase specific merchandise. For example, the best credit card in Australia offers bonus points to customers that allows them to get free luggage and gifts.
Credit card gifts can range from clothing to electronics. You typically have to accumulate a lot of points to acquire free merchandise. The bonus is that you can use the free items to eliminate your need to visit a store and purchase it yourself.
All of the credit card programs above are ways that you can make your credit card work for you. The key is to select the rewards program that makes the most sense for you and that will give you the most benefits.
Good luck Penny Hoarders!
The Penny Hoarder Promise: We provide accurate, reliable information. Here’s why you can trust us and how we make money.