Most websites I´ve read about saving money recommend using debit cards instead of credit cards. I think this advise can be useful to those who have difficulties controlling what they spend but it doesn´t apply to all personal finance management cases.
The credit card market became very competitive. So much, that most banks offer rewards for using credit cards, such as cash back, air miles and points that can be redeemed for gift certificates, merchandise, hotel stays, etc. I recently learned that if I use my credit card wisely I can actually save some money.
I´ll explain how I save money using my credit card in detail. I have a credit card associated with my debit account that offers several advantages: No annual fee when I use it every month, 30 days free credit, 2% rebate, a generous point system and special conditions for big purchases. This means I can save the annual fee, use the money for free during 30 days, get 2% of everything I spend and each time I use the credit card I accumulate points that can be converted to money. Plus, if I make a big purchase I can choose a suitable plan for my budget and decide the most convenient paying dates.
For example, if I spend 200.00 Euros in my monthly groceries shopping I get 20.00 Euros back in my credit account and eight points. If I pay the total amount used within the next month, I´m not charged interests. So, if I use my credit card to pay all groceries I can actually save some money. The more I use the credit card the more I save.
I know my credit card is a good deal but I only have this advantage because I use several products of the same bank, including my plot´s loan. Maybe you won´t find similar conditions but if you use credit you should always look for low interest cards and check if they offer any rewards.
If you have a credit card or you´re thinking about having one, you can compare the best low interest cards available for you in Credit-land.com.
Credit-land.com is a website that provides an online credit card ranking service. This company monitors the current credit card market, which is constantly developing, and reports the best deals and new offers. Credit-land features the best online credit card applications on the Internet and provides comparison tables so you can analyze all details and find the cards that best suits your individual needs.
In credit-land.com website you can also read credit cards news and recent researches to be well informed or gather information to make the best personal finance decisions.
If you´re trying to save money, check well all the card offers. If you have a money found available and use it to clear your monthly debt, you can actually save some money using credit cards.
See you soon.