Nowadays, almost anybody can get a credit card and enjoy the benefits it comes with, some of the most important being a bigger financial freedom, but also a more secure way of keeping your money. And let’s not forget about cash back credit cards or travel rewards credit cards, which are also excellent ways of getting some money back, depending on how much you spend.
However, most people don’t know that there are a few ways through which you can actually use your credit card smarter and eventually enjoy additional advantages.
Below you can find a short list with them, so, without much further ado, let’s begin:
Never settle for minimum payment
By paying bills in full and not just parts of them, you can avoid big interest rates with ease. Also, forget about minimum dues and always clear your full card balance every month!
Keep an eye on joining and renewal fees
A lot of credit cards usually come with joining and renewal fees. However, if you do a bit of research, you will find out that there are also cards with no fee. Carefully check this fee structure before deciding upon a card.
Ask for a high credit limit
This is pretty much one of the best things you can do with your credit card, since it can significantly improve your credit score, especially if you have a low use. This low use on a high spending limit implies a lack of credit need, which is always considered favorable.
Avail a loan if required
Most credit cards allow unsecured personal loans, if the user’s credit history is ok. However, on requirement of financial help, use your credit card in order to avail a loan.
Avoid using the card at another bank’s ATM
There are a lot of banks out there who still charge you if you use a credit card from another bank at their ATMs. And sometimes, these charges can be ridiculously big. Make sure you withdraw just from your bank’s own ATMs all the time!
And this is where our short list ends, but we’re convinced that there are way more tips that can be added here. Do you know any of them? Let us know, by dropping a few lines in the comments section below!
