Making best choice of credit card out of hundred is huge task but it can save you good money. Thus money saving concepts gives you easy but very effective 10 tips, which will save you some money in your pocket.
Credit cards and Debit cards payment are widely acceptable and they are very convenient to use. Card payment has got many benefits compare to cash payment. More suitable to hold these cards compare to holding big bunch of cash and coins in your pocket. Credit card payment provides great protection too.
Though, hundreds of thousands credit card consumers get hurt for the reason that they either obtain the incorrect card for their requirements or do not utilize it in the correctly. It is not too hard to dig out your best credit card, which can fulfil your needs. Just you have to remember our few tips, which will lead you to find your pleasing credit card.
1. Interest free or minimum interest on Credit card
There are hundreds of finance lenders, banks, building society and post office offering credit card. Because of the huge competition in the financial market they offer some excellent packages on credit card. You just have to focus on few important things, such as free interest for maximum amount of period. Make sure about other fee or hidden cost. Sometime they don’t charge interest but they may charge you such as admin cost or minimum fee.
2. Choose Credit card with 0% interest on balance transfers and purchases.
Interest free balance transfer and purchase is huge advantages for consumer. Select maximum time limit. Balance transfer can be very handy, when you need to transfer some funds into your bank or you need some cash. As I said earlier sometime they charge some charges such as fee or minimum charges. Hence make you select minimum admin charge possible.
3. Earn cashback or club card vouchers.
Few credit card packages come with cash back or other rewords such as club card vouchers. Therefore you can earn money or points, while you are spending by credit card in selected store up to agreed amount within approved time limit. So make sure you select top percentage of cash back with maximum amount and period. Again read carefully about fee and hidden charges.
4. Pay full amount of your credit card bill if possible to save interest.
Interest rate is quite high on credit card. Therefore pay whole amount of your credit card bill within period if possible to save interest.
5. Do not apply for credit card if you really don’t need it.
If you think, you can live without credit card facility and it won’t make any huge impact in your life, than it is preferable not to apply for that credit card. Sometime we just spend on unwanted goods and services, because we have credit card facility and then end of day we are liable to pay credit card bill.
6. Credit card can build or break your credibility (Credit Rating)
If you can pay your credit card invoice in full amount regular basis than it is one of the great tools to build your credit rating. On other hand if you are unable to pay credit card invoice and keep delaying than it can lead your credibility in poor condition (Poor Credit Rating).
7. Set up a direct debit payment
Making Payment of your credit card invoice by cash or cheque is very time costing and you have to remember each time to make payment of that invoice within a time limit. If you make any delay in paying of this invoice, then you may end up with interest and some late payment charges. Therefore paying by direct debit is hassle free and you don’t have to worry about making payment. They just collect money from your bank account on certain date.
8. Personalise your credit card with your own picture.
Recently few banks are offering personalise credit and debit card, that means you can have your own picture or you business logo on credit card. Some of them are offering this service absolutely free of charges. You just need to login it to your account and upload your picture, within a few days you will get your personalised card.
9. Be alert about wifi credit card snopes.
These days most of credit and debit cards come with inbuilt wifi system. It is useful toll to making payment at some places. But one of the great disadvantages of this system is that people can get your card details with some devices from certain range without your knowing. Therefore always take care about your card.
10. Always check your online credit card statement very frequently.
Check your online credit card activity at list once week or every 15 days. This habit will give you great control over spending and if you find any suspicions entry in your statement then inform your credit card supplier to prevent huge loss. Do not share your credit card details and pin number with others.