Earn Money When Using Credit Cards

$$ EARN MONEY WHEN USING CREDIT CARDS $$

Beside all the earning sites I do online, I also earn money when using my credit cards. I never pay interest on my cards so all the cash I receive is true earnings.

When it comes to looking into getting a credit card, there are so many things to consider.  Of course you have to be employed and  have a good credit score in order to get a credit card.  So assuming you passed these qualifications, you then have the overwhelming task of decided which credit card to apply for. There are so many choices but you have to look into all the fine print.

The first thing I look for is a card with NO ANNUAL FEE.   I never pay a credit card company to carry their plastic around but make sure you read all the fine print. Some cards have written in BOLD print there is no annual fee however if you read the fine print you may find it says no annual fee for the first year only.

The next thing to look at is the INTEREST RATES.  If you carry a balance from the previous month, you will be charged interest.   This amount will vary depending on the interest rate or APR of the card you have chosen. Again, read the fine print because some cards offer no or very low interest rates for the first 90 days then BAM! they hit you with rates sometimes up to 26%!  Interest has a way of accumulating to the point where you are paying on your small purchase for years!   My theory is, if you can’t afford to pay off your purchase when the statement is due, rethink the purchase.

Now the cool part of a credit card is the REWARDS PROGRAMS.  Most all cards seem to have some sort of a reward program whether it be cash back, points for hotel stays or airline trips, groceries or gas while other cards have a program where you can use your points for shopping and gifts.

As for me, I prefer using cards that offer cash back.   I have an American Express card and the points accumulate until you get $50.00 then you can either request a check or use the money towards paying off your statement.   The percentage earned on each charge varies from 1% to 3% whether it is for groceries, gas, eating out or just shopping.  I had a Costco American Express card and since they are dropping that program I looked into another card and at the time they had an offer of $250.00 cash back when you charge $1000.00 in six months.  Some cards offer 50,000 bonus points towards travel if that’s the kind of card you decide on.  So when looking into a new credit card, also look to see if companies offer perks for opening up a card with them.

Our bank had an offer if you opened a new credit card and charged $500.00 within 90 days, you got a Samsung Galaxy tablet. I jumped on that offer for the tablet!

Another card I have is from one of my earning sites where I earn 1.25% for every dollar charged.  I get a monthly bonus on the earning site for my monthly total earned and then I have the option to put it in my Paypal or use it for a variety of gift cards.

Some cards you earn points for purchases then you can use your points for the store the card is branded. There are also airlines and hotel branded cards to earn free travel and hotel stays.

Me personally, I prefer racking up the points for cash.  Whether I get a month check or accumulate it for the year and receive a hefty check on the anniversary of the card, cash is cash.

I like to save money any way I can and charging purchases on my credit card is one way I do this.  I never pay an annual fee for a card, I always pay the statement in full when it arrives so I don’t have to even worry about the APR, and I earn free money.

But I always tell people, if you can’t afford to pay for something when the statement arrives, don’t charge it, you will get in way over your head and once there, it’s so hard to see clear.  When looking over all the advertisements that you may receive in the mail or online, make sure you read everything over and then read it again to make sure there are no hidden surprises. Also remember every time you apply for credit, a credit check is done and that can lower your credit rating if you have too many credit checks being done.  When you do get a card, make sure it’s with no annual fee,  pay in full when the statement arrives so you don’t have to worry about finance charges, and watch your points or cash back build up for something special.