Your Guide to the Ultimate Credit Card Hacks

Most Americans use their credit cards extensively but aren’t aware of how they can make the best use of their cards. That’s why we’ve got a few credit card hacks to help you maximize your rewards, save money, and also get a better credit score. Read on to know more. 

Hacks to Maximize Rewards

• Use one credit card: If you don’t have the time to maintain different cards and use them for different purposes to get varied rewards, stick to just using a single card. Using only one card for all your expenses will help you accumulate a ton of points. 
• Get cards for places you shop at: Choose a card that gives you rewards in stores that you shop at frequently. But, don’t allow your spending habits to be dictated by your credit card.
• Use a multi-card system: When you become habituated to using more than one card, you can get a few more cards and use them varyingly to cover your spending fully. So, you can have one card with accelerated categories on certain purchases like groceries, a reward card with an unlimited flat rate on all purchases, and a card that gives you excellent cash-back and points transfer facilities. It is best to get all the cards from the same issuer.
• Use only cards, NOT cash: To earn maximum rewards from credit cards, it is necessary to use your card. So, avoid using cash when making payments. 

Hacks to Save Money

• Don’t carry a balance: Pay off in full any charges you make every month. If you do, your credit card company will not charge you interest. If you start and end every billing cycle with a zero balance, you can enjoy all the rewards of a credit card, without any associated costs.
• Look for cards without the annual fee: Avoid credit cards with high annual fees. However, if the card has excellent benefits, then it may be worth getting it even if it has an annual fee. 
• Use balance transfers carefully: Doing a balance transfer from a higher-interest credit card to one with a 0% APR can save you a lot of money. But, ensure you pay off your balance during the no-interest period. 

Hacks to Improve Your Credit Score

• Request for an increase in your credit limit: If you are carrying a balance on any of your credit cards, you can request a credit limit increase. This will lower your credit utilization ratio, which will improve your score. 
• Don’t close accounts: Keep old credit card accounts open, so you can benefit from the free credit limit. 
• Pay off your balance: If you pay off some or all your credit card balances, you can increase your credit score since you would be freeing up your credit limit. 

Put these tips into effect to make your credit card work in your favor!