Save More Money by Using a Credit Card This Holiday
Save More Money by Using a Credit Card This Holiday
Based on a report by ABC 15, most Americans will be using their debit and credit cards when they buy in bulk this December. But, many are also afraid of the debts they will have to pay afterwards. Did you know that there are ways in which you can enjoy shopping using your credit card while saving more? Here are some effective ways to do it:
Pay ahead of time
Most credit card companies reward customers who pay their bills ahead of their due date. By having good payment habits, you are avoiding any other charges through
penalties that might add to your expense. In fact, Credit Karma suggests paying on time and more than the minimum payment for the month if your budget permits. It can save you a bit in interest over the long run if you do so. Most credit card providers also reward clients with good payment behavior, so we suggest you practice it perpetually.
Maximize gift cards
Instead of using a reward card that leads you to spending more money just to earn rewards, you can purchase gift cards directly at the participating merchants of your credit card provider. You see, a reward card is the most common gimmick offered by credit card companies to make you use the card more often, or spend more on one purchase. Gift cards almost work the same way, but you only get to spend the budget you allot for shopping, while still earning some points you can redeem afterwards for freebies or discounts.
Use new card technologies
Most shops just started implementing new forms of credit card payment systems. And, commonly, to encourage them to use the terminal immediately, they introduce it to consumers at a discount. There are
various card machines used by businesses today. In a post by WorldPay, they introduced us to four kinds of credit and debit card machines available on the market:
• Countertop – This is a widely used card machine by businesses worldwide. It requires the buyer to pay right at the counter.
• Portable – The machine is no longer tied to the cashier. Customers can make the payment at their table when the server gives them the machine.
• Mobile – Similar to the portable machines, but more mobile, this terminal can be used for delivery payments and all it needs is an internet connection to work.
• Contactless – This is the newest machine in the business payment world. Cards and even smartphones with near fields communication (NFC) can make payments using this terminal.
Call the provider to lower your rate
This is highly effective for those with good credit history. There is a way to save more by using your credit card, and that is by calling your provider to know if there’s a way to lower your rate. Often, they are highly amenable to this type of request, as they want to keep their most valued clients.
If you have other tips you want to share, feel free to leave a comment below. We’d love to hear from our frugal readers out there!