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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 June 25, 2019

5 Books You Must Read if You Want to Be a Millionaire in Your 20’s

5 Books You Must Read if You Want to Be a Millionaire in Your 20’s

Millionaires and billionaires read more than you think. In fact, the likes of Warren Buffet are said to read 1.000 pages a day. As the old saying goes “There’s no smoke without fire”; so, start off with these 5 incredible books!

1. The 48 Laws of Power

48-laws-of-power

    “If you are unsure of a course of action, do not attempt it. Your doubts and hesitations will infect your execution. Timidity is dangerous: Better to enter with boldness. Any mistakes you commit through audacity are easily corrected with more audacity. Everyone admires the bold; no one honors the timid.”

    On your journey to becoming a millionaire in your 20’s, there will be many people trying to manipulate you into doing what they want. This international bestseller by Robert Greene is the widely read by those in the entertainment industry because of its dog-eat-dog environment. This book is a must-read for anybody who wants to claim power and keep it. it’s a fun read that tells the story of some of the most powerful people in history.

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    An example of a law of power is: Always say less than necessary.

    • When trying to impress, the more you say the more common you look and less in control.
    • Be vague.
    • Powerful people impress and intimidate by saying less.

    2. Influence: The Psychology of Persuasion

    influence-the-psychology-of-persuasion

      “Often we don’t realize that our attitude toward something has been influenced by the number of times we have been exposed to it in the past.”

      This book explains the core strategies people use to influence others using real world examples. Robert Cialdini’s book goes over human quirks like the need to be consistent, and how you can use that in your marketing strategy to make more money. “People’s ability to understand the factors that affect their behaviour is surprisingly poor,” Cialdini says, “which leads to people making poor decisions without realising why.”

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      Cialdini includes real world examples of why people join cults, buy certain jewellery, or give to charity.

      3. Blue Ocean Strategy

      blue-ocean-strategy

        “Value innovation is the cornerstone of blue ocean strategy. We call it value innovation because instead of focusing on beating the competition, you focus on making the competition irrelevant by creating a leap in value for buyers and your company, thereby opening up new and uncontested market space. Value innovation places equal emphasis on value.”

        This book argues that leading companies don’t succeed by battling competitors in “Red Oceans”, but by creating “Blue Oceans” where they have uncontested market space to grow. It goes over case studies like “Cirque Du Soleil” who created a blue ocean by creating a circus platform that didn’t include animals or more than one act on at once but instead, decided to focus on talented performers and music who created a mystical storyline.

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        4. The Fountainhead

        the-fountainhead

          “A man’s spirit is himself. That entity which is his consciousness. To think, to feel, to judge, to act are functions of the ego.”

          The Fountainhead takes place in the United States, mostly in New York City, during the 1920s and 1930s. Billionaire Mark Cuban named his yacht “Fountainhead” after this book. This classic novel is about the struggles of an innovative architect named Howard Roark and his effort to achieve success on his own terms. Many entrepreneurs are inspired by this book because it depicts how you should be uncompromising when it comes to your vision and your goals. If you follow this way of life, you develop the ability to change the world and creating something unique.

          5. The Compound Effect

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          the-compound-effect

            “Do you know how the casinos make so much money in Vegas? Because they track every table, every winner, every hour. Why do Olympic trainers get paid top dollar? Because they track every workout, every calorie, and every micronutrient for their athletes. All winners are trackers.”

            This book is by Darren Hardy the CEO of Success Magazine, he goes over how it’s the small, seemingly insignificant choices that compound to create success or failure over time. No one has a plan to be broke and fat but that’s what happens when you don’t have a plan and go along the path of least resistance. Hardy argues that you cannot improve something until you measure it and to always take 100 percent responsibility for everything that happens to you.

            So, those are five books you must read if you want to give it a try to become a millionaire in your 20’s. What are the best books you have ever read? Leave a comment and share these life-changing books with your friends to help them become successful like you.

            Featured photo credit: Bill Gates Foundation via businessinsider.com

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