Saving Money with Your Credit Cards pt 1

July 2nd, 2010 | Money, Personal Finance, credit, credit cards, saving

creditmoney When it comes to personal budgeting, we tend to try to think of ways that we can cut corners while cutting down on any frivolous expenses in our lives. What many people are not apparently aware of however is that you can actually make use of credit cards to help to reduce your budget as well.

So can credit cards really help to save you money?

This is only going to work if you are the kind of person that pays all of your bills completely in full every single month. If you are accustomed to this, then there are two types of credit cards that are going to be able to save you money.

The first type of credit card capable of saving you money is the cash back credit card. These are credit cards that allow you to earn back cash rebates for every single dollar that you spend using your credit card. In other words, this is literally like you are earning a perpetual discount, however small, on everything that you end up buying on credit. If you pay your credit cards off every month, then this really pays off in the end.

A typical cash back rebate may be something like 1% back for every dollar that is spent on the card. There are better cash back opportunities such as the American Express Blue credit card that offers 5% cash back any time you buy gasoline, drug store items or gasoline purchases. Another type of cash back credit card is the American Express Costco credit card, which pays out 3% on restaurant and gasoline expenses as well as 2% rebates on any of your travel expenses. If you use these types of credit cards, then it would be feasible for you to save as much as hundreds of dollars in a single year.

So what is the best way for you to save money using cash back option credit cards?

Always make sure that you are using a card offering between 1% and 5% in cash back.
Combine your coupons, your clearance items and your store sales with these cash back cards in order to earn maximum discounts while shopping in the store.
When you are shopping online, make sure that you are looking for special discount codes and free shipping codes to maximize your savings even further.

Combining all of these tactics is going to help you save the most amount of money possible over a period of time, especially when you combine these tactics with the automatic option for cash back through these credit cards. The best thing that you'll find from these cash back credit cards is that they can save you money without requiring any effort from you. Even when buying items that are not on sale, you are still going to get a discount automatically.

Photo Credits: mangpages

Originally posted 2009-09-23 03:29:37. Republished by Blog Post Promoter

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