This post is a sort of continuation from the last one that offered a little advice on credit card training. This little gem of wisdom works out best if you have a family and you have a reward card that is actually worth having, like a cashback card or perhaps something that you might use…
Too many people actually have a reward card that is no good to them like an airmiles card when there is little chance of you ever leaving the country, or when you don’t even have a passport. If you have a cashback card you can really make this thing work out to your advantage.
Now you’ve probably paid your paper bill or something with your credit card it’s time to try paying something a little bigger and allow yourself a little luxury by accumulating some more points or whatever reward you have on your credit card. Remember i said not to buy anything you wouldn’t usually buy didn’t i? At least in the early days of managing your reward credit card.
Now we’ve all got to eat, and the average family spends between £100-150 each week in the supermarket or online. Well can you imagine converting those pounds into rewards? Well it’s time to start doing it now. All you need to do is put the money that you spend on your shopping to one side, or better still another bank account that you don’t use. When you get your monthly credit card statement you must pay it off immediately.
Please remember that this will only work if you only buy things that you usually buy. If you start buying a load of expensive stuff and drive up your shopping bill then you will undoubtedly be unable to pay off your balance at the end of the month and you will add interest to your credit card statement.
Tags: credit card training, paying your balance, Reward Credit Cards
