Using Credit Cards to Save Money


Saving money with a credit card may seem like an oxymoron. It’s not! Think of credit cards as a financial asset you should leverage as much as possible. Credit cards are to a certain extent an extension of your income and earnings.

Five tips that can help you save money with your credit card:

  1. Transfer your balance to cards with lower rates (APR). The interest rates on a credit card can be one of the major burdens of owning such a card. But you can cut high interest rates down to size by finding the best credit card transfer rate and transferring the balance of one card to one with a lower rate. You not only cut down on your overall balance but shorten the amount of time it takes to pay your debt off.
  2. Ask your vendor or credit card company to lower your interest rate. If you are a card holder in good standing (no late payments or outstanding debts), your card issuer may be willing to lower your interest rate in order to maintain the relationship.
  3. Get a rewards credit card. If you’re going to use your credit card, you might as well get something out of it. Rewards credit cards offer you the chance to get miles good for airline tickets, points that can be used for merchandise or even cash back for regular use. Just be sure to get a no annual fee rewards card to make it worth the effort.
  4. Pay your bills on time. This sounds like a no-brainer but late payments are common among today’s credit card holders. Every time you make a late payment, you increase the amount you own and push the length of time it will take to pay off your balance further back.
  5. Pay more than the minimum. As with paying your bills on time, paying more than the minimum will shorten the length of time that you need pay off the balance. Even a few dollars more than the minimum will shorten the amount of time you will need to pay off the balance.

Make Your Card Work for You

Credit cards don’t have to be a financial burden or a liability. Used wisely, they can be a useful addition to your financial portfolio and even save you money. Study the tips outlines here and start making your credit card pay work for you!

Please feel free to email us at if you have any questions or comments!
© Earth's Magic Inc 2000 - 2015. All Rights Reserved. [ Disclaimer | Privacy Statement ]