Talk to a debt counselor toll free:800-300-9550
Our Clients Rate Us Excellent
Based on 3234 reviewsTrustPilot Reviews
Use different cards for different purchases
There are a number of credit cards available now that offer 0% interest rates to new cardholders. These interest-free periods can be anywhere from nine to 21 months. One of them can be helpful if you're in the market for a big-ticket purchase and need to pay for the item over a period of time. Use one of these cards and you will not be required to pay any interest on the purchase – assuming you pay off the entire balance before your introductory period ends. As an example of this, if you're in the market for a new smart phone that costs $700, you could pay for it with 21 monthly payments of $33.33 and because you wouldn’t be paying any interest you would save more than $200.
Take advantage of the card’s concierge service
Some credit cards now come with a free concierge service. If you're looking for good deals on concert tickets, restaurants or travel, why do the comparison shopping yourself? Just call the concierge's phone number, tell them what you need and the concierge service will probably provide you with a few options. If your card comes with this benefit you should be able to use it for restaurant reservations, concert tickets, travel plans and even shopping – which will save you from having to spend your valuable time searching the web.
Credit cards will protect your cash
If you lose cash, it's gone. There's just no way to get it back. Debit cards are a bit safer but they pull money from your checking account. This means if there are unauthorized charges put on your card you'll be out of the money until the issue has been resolved. On the other hand, credit cards offer zero liability if unauthorized purchases are made on their cards. Instead of you having to wait for a refund or for your bank to resolve the issue, the credit card company will do the heavy lifting and resolve the issue for you.
There are some other important differences between credit and debit cards as explained in this video.
Save money with credit card shopping portals
Credit card companies have two simple goals. One of them is to get you to use their cards. To do this, some of them have shopping portals for their customers where you may find steep discounts and better rewards. As an example of this, you can have a credit card that offers 1% cash back if you're buying something online but could get 5% cash back on the same purchase by shopping in the card’s store.
Credit cards can help build your credit history
Assuming you use your credit cards responsibly they will help you build a good credit history. And the longer you use a credit card sensibly the better it will impact your credit score.
It used to cost to get your credit score. But you can now get it free with several different credit cards. Or you can get the equivalent of your FICO score at CreditKarma.com and CreditSesame.com. You may also be able to get your credit report at one of the sites. It's important to know your credit history because this is what sets the interest you'll be charged on auto and mortgage loans. The simple fact is that a good credit history will save you thousands of dollars in interest charges.
the interest rate will be charged on a home or car loan42t carry credit card debt, it costs them about $1,300 a year in interest.
at carry credit card debt, it costs them about $1,300 a year in interest.