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Tips to Save Money With Credit Cards
Credit cards can help people to meet their financial obligations and also fulfill their desires by purchasing the things that they like. They also offer a wide range of discounts, promotions, deals, promotions and other benefits to the cardholders from time to time. However, they also offer a lot of other benefits and in fact they can even help people to save money. If you are a credit cardholder, you are probably wondering how you could possibly save money with a credit card. You might even find a contradictory statement given that you are required to pay finance charges and annual fees to use the card. The reality is that with a little bit of planning and by choosing the right credit card you can actually save a decent amount of money.
Here are a few tips that will help you to save money with your credit cards:
1. Cash Rebates – there are many credit cards that offer cash rebates for a variety of transactions. The rebate is provided to you instantly in the form of a discount when you use your credit card to complete the transaction. Thus, you can save a lot of money by using such credit cards as you can use them to refuel, book hotels, purchase groceries, shop online and so on. Cash rebate credit cards are offered by most of the credit card issuers in Singapore.
2. Rewards Points – if you use a credit card, you are probably aware about earning reward points with your card. The reward program can be very beneficial and can help you to save a lot of money. You will earn reward points every time you use your card for any type of transactions. In most cases, you will earn minimum 1 reward point every time you spend a dollar with your credit card. The reward points accumulated can be redeemed for discount coupons, vouchers and a variety of other treats.
3. Cashback – many banks offer cashback credit cards and these cards are ideal for those who want to save money on their day to day expenses. You can use a cashback credit card for all kinds of transactions and get a percentage of the amount spent as a cashback at the end of the year. For example, if you spend S$10,000 in a year you are likely to get $100 or more credited to your account at the end of the year as a cashback.
4. Air miles – if you are someone who travels very frequently, you can benefit from a travel credit card that can help you earn air miles. Every time you use your card for a transaction you will earn air miles. You can then redeem the total air miles earned for free air tickets and other benefits. You can also get discounts on hotel bookings and thus save a lot of money in the process. On top of that, some travel credit cards can offer you with free travel accident insurance and so you will not need to spend additional money on purchasing a travel insurance policy.
These are some of ways through which you can save money with a credit card. If you are sure that you can manage your expenses widely, you can actually opt for multiple credit cards and save a lot of money by utilizing the benefits and featured offered with these credit cards to the fullest.