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7 Brilliant Credit Card Tricks To Save Your Money

7 Brilliant Credit Card Tricks To Save Your Money

Working hard to maximize your cash heading in to the summer? While you’re scrutinizing the use of every hard-earned dollar, play it smart with plastic and save money with these 7 credit card tricks.

1. Get that bonus!

Sign-up bonuses are perhaps the fastest way to earn miles, rewards points, or whatever incentive attracted you to that particular piece of plastic. You may be surprised to learn that a large number of new cardholders never complete the steps necessary to earn their bonuses. Take the time to claim what was promised to you, including filling out registrations or surveys.

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2. Think before you pay to play.

Many rewards programs require an annual fee. If you are depending on credit cards to earn airline miles or rewards other than cash back, take the time to determine how likely you are to actually use the rewards, and when. If you fly once every five years, for instance, that $100 annual fee means you’re already paying for your ticket out of pocket. Same goes for restaurants, hotels, and other points-based rewards—if you have to adapt or change your habits in order to maximize the rewards and justify the annual fee, you are less likely to actually use them. Shop around for a card with no annual fee or cash rewards instead.

3. Take the company up on that offer.

Credit card vendors often offer perks like gift cards, or short terms promotions like “5% cash back on all gas purchases in the month of October.” The trick here is that you usually have to claim them, and much like those mail-in rebates that rarely make it to the mailbox, many people don’t. Figure out how your bank advertises their offers, and monitor accordingly. A bank may, for instance, share promotions in a banner on the credit card account home screen once you log in. That’s it, no other way. So if you don’t log in regularly, you’ll miss it!

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4. Maximize your statement cycle.

US banks are required to allow you 21 days to pay off your bill after the cycle closes. This means that if you make a major purchase toward the end of a given cycle, you’re also buying yourself extra time to pay off your bill. If money is tight and you need what is essentially an interest-free loan to make a purchase, timing the buy well can mean a few extra weeks to pay it off.

5. Protect your identity.  

If you use your card to shop online, a bit of security mindfulness can go a long way toward protecting yourself. Take the time to change passwords and login information on sites you shop frequently, and avoid making them all the same. Avoid writing down passwords; if you must, keep the cheat sheet securely locked away at home, not on your desk or phone. Speaking of phones, refrain from having automatic login information to financial or shopping sites stored on yours—if it’s lost, a hacker can easily crack your phone password, if you have one, and have access to your accounts in no time. If you offer credit card information over the phone, do so in a private location, away from strangers.

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6. Demand a chargeback if appropriate.

 A “chargeback” is simply a refund of your money by the credit card company in the event that unauthorized charges are made on your card. Make sure your card offers this sort of protection and that you can get a hold of your company at any time to freeze your account if necessary. Do not hesitate to file a chargeback request if you have to—the merchant may not like it, but it’s your money you’re protecting.

7. Most importantly—pay off your card.  

Nothing puts a damper on a month’s worth of good deals and smart shopping like late fees or interest charges. Treat your card like cash. Only buy what you can afford, when you can afford it, and pay it off on time, every time.

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Want another tip?

Here is a simple one: get a credit card. Charge cards are the easiest way to build good credit history, which is going to be very important if and when you ever apply for a home loan, business loan, or similar. You don’t have to use it a lot, but use it often and pay it off regularly. Taking this article to heart, and want a reader’s sign-up bonus, too? Alright, you’ve got it—know your credit score! Soft inquiries, which mean you are checking on your own credit score, do not adversely impact your score; too many hard inquiries, made by merchants when you open up additional cards, can.

If you’re eager to maximize your rewards, check out these 7 Myths About Credit Card Rewards.

Featured photo credit: http://www.flickr.com/photos/68751915@N05/6355848263/ via Photopin

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Last Updated on March 29, 2021

Life Insurance: A Secure Way To Protect Your Future.

Life Insurance: A Secure Way To Protect Your Future.

Life is a journey full of ups and downs. No one can actually predict what might happen the next moment; there are times where the happiest moments do not even take a second to turn into the gravest. Planning for your future can help you face such unwelcomed but irrepressible situations with much ease. We all want to make every memorable event of our life more special and to cherish all those moments happily and worry less, you must financially plan your future. But no one has control over life and death. Who would wish to see his family suffer in his absence? Insurance hands over the financial jeopardy of life’s happenings to an insurance company.

Importance of getting a life insurance

No one has control over life and death. Nobody would like to see their family suffering in an absence, and that’s why many people recommend life insurance. A life insurance plan is one of the best ways to secure the future of your family, even against those financial troubles after an untimely demise. These plans are safe and credible, and you could trust them for your family’s better future.

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On the other hand, a life insurance policy is a contract between a company (insurance provider) and policyholder in which the insurance provider ensures to pay a certain amount of money to the nominated beneficiary in case of the policyholder’s death during the term of the agreement. There are different types of insurance plans, and it is important for you to know the benefits of those plans such as a funeral, medical or some life expenses provided they are mentioned in the agreement.

Choosing the right insurance plan

If you’re about to select an insurance plan, you should consider some important factors:

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  • The time at which you start investing in a program and the number of family members you want to get insured. Obviously, a married man with two children has different needs compared to a single one. The number of persons who are dependent on an individual also varies from person to person.
  • The next thing you need to consider is you and your family needs. What are your child’s dream, your retirement plans, for how long would your dependents need financial support, any personal injury, etc. And do not forget those events or situations that will surely demand a huge sum of money.
  • The next thing one must consider is your current income. You should preferably choose a plan which you can afford.

Now you must be having a pretty clear idea of how to choose the best plan for you. Further, you should also compare various plans offered by different companies and numerous sites available online that help will you to compare them.

Differences between life insurance plans

Here’s a short brief of some plan categories you can choose according to your needs:

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  • Term Insurance Plan – You have to pay once, and your nominee gets the paid money under your misfortune demise. It ensures a person for a fixed time. If you survive the policy period, you do not get your premiums back.
  • Whole Life Policy – This plan continues for your lifetime. Under this, the policyholder has to pay regular premiums, until their death.
  • Endowment Policy –  In case the individual dies during the tenure, the beneficiary gets the amount assured. If the person survives the policy tenure, they gets back the premiums paid with other investment returns along with several other benefits.
  • Money Back Policy – In this a portion of the money invested is returned to the investor at regular intervals. If you survive the insurance term you get the entire amount back; else the beneficiary receives the entire sum assured.
  • ULIPs – These are the life insurance plans that offer you future security plus wealth creation options.

Many people do not opt for whole life policy and endowment policy because of the high amount of money you need to pay, while others may prefer to opt for these if they have a high life expectancy. Surely you will find the best one for you.

So what are you waiting for? Plan for your future and live a happier and carefree life today.

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Featured photo credit: aryehsampson.com via aryehsampson.com

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