You’d be surprised to find that having a credit card isn’t as bad as you might think it is. If you’re a responsible credit card user, you can get some much-needed benefits. You don’t have to be a high-ranking official like a Cane Bay Partners CEO to know how to effectively make a credit card work for you. knowing the reasons why a credit card works for you can even help you to change your attitude and become a responsible user. To find out how you can handle your valuable plastic better, you should keep on reading.
One-Time bonuses
Did you know that getting a credit card comes with an initial one-time bonus opportunity? If you’re an applicant who has a good credit score, your credit card comes with this bonus that you can redeem should you spend a certain amount. This is a great reward that you should consider using for other expenses. Additionally, it offers you more than what a standard bank account offers you.
Cashback
You’d be surprised to find that in America you have a credit card option that gives you cashback on at least 1% of your purchases. The great news is that depending on the card that you have this cashback incentive can go up to 6% on your selected purchases. However, you should be aware of the conditions of your cashbacks. In some cases, you have quarterly or annual spending caps. Moreover, you should find out what the fees are, and the interest when you’re being offered your rewards.
Rewards Points
The fact of the matter is that your credit card is set up to ensure that you earn as many points as you can for each dollar that you’re spending. This is why your credit card often has a rewards point system for certain categories that you spend on. For instance, you can go to your favorite restaurant or pour gasoline and you’ll be offered reward points. The great thing about these points is that you can use them instead of spending money when you’ve accumulated enough of them.
Flyer Miles
If you’re a frequent flyer you can use your credit card to your advantage. You can earn miles watched to your dollar spent when you use your credit card to book your flights. This reward program depends on the type of flight that you use. Moreover, the type of card also determines how much you’ll pay on your annual fees. Yet, it’s still not much when you think of how you can get anywhere between 50% -100% when you’ve spent enough to meet your card’s spending criterion.
Safety
The most important reason why you should consider using a credit card is that it offers you safety from losing money or fraud. Using cash all the time can put you at risk. In summary, a credit card Isn’t that bad if you know how to use it. It also helps when you use it for the right reasons.