7 Tips on How to Make the Most of Your Credit Card

1. Make a plan of spending

Think before using cards. Compare the highlights of different cards. Some cards might be the best at 0% installment. Some might let you have more advantages if you use it to purchase things at department stores or apps. Some might be great to collect points when you buy items. If you can categorize your cards into groups, it will be more effective in using cards.

2. Do not forget to set the money limit

Especially for people who spend a lot of money via cards. It will affect other expenses and make you have a hard time at the end of the month. Remember to “Think before using cards”. to practice more financial discipline as well.

3. Do not be fooled by 0% installment trap

You may think it is fine to do 0% installment, it is even better if the 0% installment is for 24 months or 36 months. However, if you have many items’ installment at the same time, the total of all the installment will be a great amount so that you cannot pay them off. The 0% installment is suitable for high-price items such as electrical appliances and furniture. Some credit cards may offer additional top up discounts when we use them at the stores that join in the promotion. This way will make us buy the item at a lower price to make it more cost-effective.

4. Cash Back

You might have to compare many banks if you love to have your cash back because some banks offer a great amount of cashback. Cashback is a return of money to your credit card bank account according to terms and conditions of the cards. The cashback will be calculated according to the percentage of the money you spent. You might receive it as cash, discount coupons or points depending on terms and conditions of the cards, shops or partners in the promotions.

5. Be a point collector

Every spending is not nothing. You will get points in return every time you spend your money. You can trade your point in the next purchase, trade for gifts or discounts of goods and services. It’s worth a lot of money, which is a huge discount for you.

6. For shopping lovers, use the card that cooperates with malls or apps

This kind of credit card is good for those who love to go shopping at department stores or online shopping in the apps. It will give you more discounts than other cards. It will also give you a special coupon, seasonal gifts, cashback and special news before others.

7. For travel lovers, collect miles to trade for privileges

Those who travel a lot, especially by plane, must love the cards that can collect miles of the airlines. Beside trading miles for flights, miles can be traded for special lounge or other special gifts from the credit card provider. Normally, there are additional services during your travel such as the airport shuttle service, special lounge at the airport and travel insurance. It is a special and cost-effective service for travelers.

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